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[quote=Anonymous][quote=Anonymous]does your spouse work? or are you a single earner family?? your bio reads like mine (even though I am much older than you (61 now)). came to US at age 16 w/ a few $ in my pocket. hard work and education got me where I am. have a few million (~7 i think) at this point but certainly not enough to call "generational wealth." my lessons learned over the years are 1) you can't do it with single income if you have a professional job (like you). you need one income to support living and another income to save; 2) stay focused on your savings and investment approach (slow and steady); and 3) save, save and save more... GL[/quote]

Your $7M can certainly be "generational wealth", if it grows before you pass on, and if your heirs husband it carefully.  Wealth disappears from families when the generations receiving it mishandle it - they don't understand why or how to save and invest, they don't know how to minimize their tax burden, and/or they squander it as a windfall instead of treating it as the basis and foundation for an enduring family fortune.[/quote]

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