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Reply to "Generational Wealth"
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[quote=Anonymous]There are obviously extreme views on the phrase “generational wealth” with one extreme meaning any inheritance and another extreme saying $40MM doesn’t meet the definition. I don’t adopt any extreme. To me, I think generational wealth means being able to live in luxury in my older years, leaving my children and grandchildren enough to pay for their educations without having to take out loans, being able to help with down payments, and even having some sort of trust to help pay for living expenses. I don’t think generational wealth means not having future generations need to work. I want my children and grandchildren to work. My hope is that we leave them enough money for them to work in an area that is personally meaningful for them, even if it is low paying, and they can use our money to pay for their children’s educations and living in a nice area.[/quote]
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