Reply to Generational wealth. What's behind the obsession?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Generational wealth is just a family's pooling of resources.  And you can start doing it right now too.

To start with, the most obvious is living in a multigenerational home.  Staying together in the same house brings with it economies of scale, in-built eldercare, in-built childcare, distributed household chores - laundry, grocery, shopping, cleaning, ability to outsource chores to outsiders by pooling in money.

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We do!  My son is a single father with one child, we have a middle schooler, so we have 5 living together.   Our parents started by creating trusts for the their kids, grandkids and great grandchildren.  My son has an 8 figure trust fund from grandparents that he hasn’t touched because of our living situation and the fact that he doesn’t like to spend money.  We have a single family home but are looking for a two family home because he has a serious girlfriend.   We would be joint owners and he would automatically get the house when we’re gone.   Two family around here is 1.5 - 2 million. I’m not sure we would be doing this if he was married but since he’s not it has made a huge difference in his finances.

Besides one family I know the only other families I know who do this are immigrant families, mostly Asian countries.  [/quote]

Nice. I think Africans do the same as well. Not sure.[/quote]

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