Reply to If your family had generational wealth when did it end?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I think of my family as having generational wealth, but it's not like there's some huge trust fund that sustains everyone in million dollar houses.

But my grandmother who lived a frugal life left me an investment account that had $35k in it.  I never even thought about it until I wanted to buy a house.  And wow, was that awesome.  My other grandmother had left my mom money, and my mom was financially comfortable enough to pass that along at the same time.  So I essentially had $75k from my grandparents, who were NOT rich, to help buy a home.  My father was also able to pay for college without loans, another huge financial gift.

That is still generational wealth, even though the numbers are not eye popping to many on this board.  It padded my financial life immensely.  [/quote]

That is very, very nice and certainly helpful, but it is not the same thing as [b]generational wealth[/b]. 
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Sigh, I thought we were done arguing semantics.  The actual definition of generational wealth is: "Generational wealth refers to assets passed by one generation of a family to the next."  So PP was right. What was passed on to her are actual examples of generational wealth.   What you're talking about is are they rich from loads and loads and loads of generational wealth.[/quote]

Sorry, but you are [b]being pedantic[/b] here. The average person on the street does not think of “generational wealth” as being, “My parents paid for college” and “My parents/grandparents gave me a one time gift that helped with my house down payment.”

And I say this as someone who paid for college myself with a combo of scholarships and loans and got $0 help with any kind of down payment. While I would have loved financial help of any kind from my family, I don’t think of people who got that kind of help as having “generational wealth” and mine is not an unusual take on this phrase. 
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I only corrected it because you (or whoever was the PP) felt obligated to "correct" the way someone else used it in a pretty patronizing way.  Obviously people on the street think of generational wealth in different ways and there is an actual definition for the term that is not yors.
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Do you have a cite for this definition?

At some point, the definition of a word is what the majority of people think it is. 
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Simple google search of every day articles on the topic shows that the majority of people who write about generational wealth, define it this way:

Investopedia: "Generational wealth refers to financial assets passed by one generation of a family to another. "
https://www.investopedia.com/generational-wealth-definition-5189580

Forbes: "Generational wealth is anything with monetary value that is passed down from one generation to the next."

Fortune: "Generational wealth is essentially any kind of asset that is passed down from one generation to the next."
https://fortune.com/recommends/investing/generational-wealth-explained/

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