Reply to How much is considered generational wealth?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]In my opinion, if it can easily be spent on basic necessities within a generation, then it's not generational wealth. My parents are leaving ~1 million for grandkids college and another million to my brother and I. Welp that will be more than gone as soon as they hit college and will just help me pay off my house a little faster. Even with 10 million, that would be gone by the next generation considering all the grandkids and great grandkids. Not even enough to accumulate interest. 100 million yes you are getting to a point where it works because assume a ~5% return just living off that, you're drawing $5 million a year and then you can start supporting a good lifestyle for multiple families[/quote]

If you paid for your own house and kids' college and invested the $2M your parents are leaving you, then it wouldn't be gone in an instant.  It would double every 10 years or so and then be an amount that your kids or grandkids could use the 5% return to supplement their incomes in perpetuity.  [/quote]

Well yes but then you're asking me to sacrifice my own lifestyle which I'm not willing to do. That defeats the entire purpose of "generational wealth" if we're living in a cardboard box and [b]driving a Prius[/b][/quote]

Oof.  You act like you are too good for a Prius.[/quote]

...or a cardboard box![/quote]

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