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Relationship Discussion (non-explicit)
Reply to "Are there any downsides to marrying into a rich family?"
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[quote=Anonymous]My sister married into a family that I assume has $20+million net worth but I have never asked. FIL has a pension that is around $700,000 per year (he is 86 and has been getting this for the better part of 20 years). They bought a home in a retirement community about 2 years ago for $1.5 million cash because they couldn't imagine downsizing at this point - they are in their 80s! They have a generational trust that has been carried through since the 1920s when a great great grandma made it rich on the stock exchange. Anyway they are all very low key and you would hardly know they have so much wealth. But they are low key wealthy. My brother in law and sister work and make around $1 million a year. His brother in law (so my sisters BIL) makes probably $2-$3 million a year. This is how generational wealth is built. They keep it, each generation makes enough they don't need to rely on the trust, and it just keeps getting passed on and on. [/quote]
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