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Reply to "Preventing generational decline"
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[quote=Anonymous][quote=Anonymous]Generational wealth here. I think key is not to touch the principal and have good investing strategy. We definitely do not make enough to add to the pot (make high six figures through our professional careers) but key is not to actually spend any of the inherited wealth and only spend the interest, if at all. Get good lawyers, FAs and accountants.[/quote] I’ve heard the “don’t spend the principal” mantra before but rarely is it caveated to note that it should be in real terms (ie inflation adjusted). Otherwise you are spending the principal. [/quote]
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