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Reply to "What would you consider a large trust fund?"
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[quote=Anonymous]I think $5mm is about where the existence of the trust fund begins to meaningfully influence behavior and life choices for the beneficiary. I got $500K when I turned 25 and expect to get a couple $mm when my parents pass, for which I am definitely blessed and the $500K helped me get a house and start investing, but this amount doesn't make me pursue a life path I ordinarily wouldn't have. I've also worked as an advisor to family offices with huge multigenerational wealth (close to a billion$ across all the generations and family branches), and while there are always a couple great grandkids that take their $2-$3mm and immediately blow through and die destitute, I didn't see much intent to 'live off the fund' until the awarded dollars were in the $5-$10mm range. Above $10mm almost no one ever took a job based on economic reasons (lots of museum curators and horticulturalists) and their lifestyle clearly reflected the existence of a perpetual support net.[/quote]
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