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Money and Finances
Reply to "If you are new money"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Do people still talk in terms of "new money" and "old money"? I thought that sorta aged out alongside rules like not wearing white before Memorial Day. What cutoff are we using? [/quote] I think we can leave generations out... let's go with this: You are new money if the money you have today - doesn't matter how much it is - is generated from your earnings/work/salary/revenue. You are old money if - money from an inheritance or trust is doing a lot of the work/all of the work for you. I realize this may mean only one generation of wealth for the kids of a CEO for example, but usually it takes 2 or 3 generations of wealth and the 3rd generation was raised with money and their attitudes towards it are different than those who come into it. [/quote] Wrong. On all counts.[/quote]
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