Reply to What Are the Tell Tale Signs of 'New Money' People?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The entire United States is new money. It’s by definition. This country was buffaloes and Indians before the White man came. It’s all new money and anybody that appears wealthy is just 1 or 2 generations from wrangling cattle and planting corn[/quote]

It’s all relative.  I think if it’s more than 1-2 generations, it’s “old money.” To me, the Rockefellers are old money. Same with the Carnegies, Astors, and Gettys.  I would never call this new money.  [/quote]

Yes, I would agree. Once the family maintains their wealth for 3 generations they become old money. [/quote]

One line is almost bound to maintain it. Now that investments are more stable (it would be really hard to lose a fortune now, but it was common in the 19th century though the 20s and 30s), I would assume that any family crossing a certain threshold will be able to maintain it in perpetuity through most of their lines [/quote]

Investments are only as stable as the people running the markets keep them - do you think they all have your best interests in mind?  Or, how confident are you that they wouldn't throw you to the wolves to protect themselves?  These are extreme thoughts (sort of, 2008) I admit...but diversification assists wealth maintenance.  [/quote]

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