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Reply to "If your family had generational wealth when did it end?"
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[quote=Anonymous][quote=Anonymous]My great grandfather was a builder in DC and owned car dealerships. Other side of the family owned parking garages downtown. The wealthier side was into race horses, which turned out to be a bad idea. Grandparents didn’t want to work (alcoholism) and then when they died, my parents “didn’t need the money” so let siblings have it. My aunts and uncles didn’t work either. Their kids are now lower and lower middle class. [/quote] This is why (IMO) generational wealth should first and foremost be used for education (or trade school, etc whatever you need to better yourself for a career in life) and trusts should be set up to ensure people are not just using the money to live off of without any care to try and function in the world. [/quote]
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