Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The problem with creating true generational wealth, $25M+, is that kids are not having kids anymore. With current fertility rates, if you have 2 kids there is a chance you get no grandkids and a good chance you will have no great grandkids….let alone 4-5-6 generations out.

The other issue is that all the driven/good future offspring will preserve or grow the money, but eventually you get a bad generation. And what happens is the least deserving wastes it all.

But isn’t part of the reason people aren’t having kids because they’re too expensive and hard to care for? I would presume money would help make it more feasible because they could outsource or a parent could stay home etc.

I gave my kids 5-6 reasons not to have children. They are well aware what made our lives difficult. It wasn't the kids being expensive or difficult and it wasn't the money.
I told them that I wish someone had reminded me that not having kids was an option. Both boys said they don't want any.

Hmmm maybe they don’t want kids because they think THEIR OWN MOM doesn’t want them! Great job, mom!

I won't even be on the same continent. More to do with them being boys and young when I asked. They may change their minds.

Dear god posts like this make me so immensely grateful for my own parents. Imagine winning the generational wealth lottery but this is your mother.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The wsj says there are 470,000 families worth $30 million or more. And over $200,000 worth $50 million or more. Almost 100,000 with $100 million or more.

how do they define "family" for that?

Altria (sp?) did a global 2025 wealth report and UHNW $30M+ are top 1% of millionaire households globally. So its about 45 million $1-$5M, 4.5 million $5-$30M and 450,000 oner $30M. Thats glbally. Population vs wealth follow a Pareto curve. There are wealth pyramid diagrams in the report. If the DC metro area has,say, 1.5 million households statistically its probably 1,500 to 2,500 with $30M+ given wealth concentration skew of DC

Anonymous wrote:

Anonymous wrote:The wsj says there are 470,000 families worth $30 million or more. And over $200,000 worth $50 million or more. Almost 100,000 with $100 million or more.

That’s not a lot of people. 770,000 people in a country of 350,000,000.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The problem with creating true generational wealth, $25M+, is that kids are not having kids anymore. With current fertility rates, if you have 2 kids there is a chance you get no grandkids and a good chance you will have no great grandkids….let alone 4-5-6 generations out.

The other issue is that all the driven/good future offspring will preserve or grow the money, but eventually you get a bad generation. And what happens is the least deserving wastes it all.

But isn’t part of the reason people aren’t having kids because they’re too expensive and hard to care for? I would presume money would help make it more feasible because they could outsource or a parent could stay home etc.

I gave my kids 5-6 reasons not to have children. They are well aware what made our lives difficult. It wasn't the kids being expensive or difficult and it wasn't the money.
I told them that I wish someone had reminded me that not having kids was an option. Both boys said they don't want any.

Hmmm maybe they don’t want kids because they think THEIR OWN MOM doesn’t want them! Great job, mom!

I won't even be on the same continent. More to do with them being boys and young when I asked. They may change their minds.

Anonymous wrote:

Anonymous wrote:Im glad I wasn’t given generational wealth. Having to make my own way has forced me to plan and work hard. If I knew I was going to come into big money I doubt I would’ve led the life I’ve led, which has been very fulfilling.

I think you would be the same person. We knew we didn’t have to save for retirement or the kids’ educations but that doesn’t mean we slacked off, we didn’t.

Anonymous wrote:Generational wealth doesn’t eliminate the possibility of stress. My spouses inheritance meant that we didn’t have to set aside money for retirement. We didn’t have to borrow to buy a house. We didn’t have to stress about bills. Now we can support our children and grandchildren. We can travel and have a second home. None of that was going to happen on our salaries. We worked hard but we also retired in our late fifties.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The problem with creating true generational wealth, $25M+, is that kids are not having kids anymore. With current fertility rates, if you have 2 kids there is a chance you get no grandkids and a good chance you will have no great grandkids….let alone 4-5-6 generations out.

The other issue is that all the driven/good future offspring will preserve or grow the money, but eventually you get a bad generation. And what happens is the least deserving wastes it all.

But isn’t part of the reason people aren’t having kids because they’re too expensive and hard to care for? I would presume money would help make it more feasible because they could outsource or a parent could stay home etc.

I gave my kids 5-6 reasons not to have children. They are well aware what made our lives difficult. It wasn't the kids being expensive or difficult and it wasn't the money.
I told them that I wish someone had reminded me that not having kids was an option. Both boys said they don't want any.

Hmmm maybe they don’t want kids because they think THEIR OWN MOM doesn’t want them! Great job, mom!

Anonymous wrote:

Anonymous wrote:The wsj says there are 470,000 families worth $30 million or more. And over $200,000 worth $50 million or more. Almost 100,000 with $100 million or more.

how do they define "family" for that?

Anonymous wrote:Im glad I wasn’t given generational wealth. Having to make my own way has forced me to plan and work hard. If I knew I was going to come into big money I doubt I would’ve led the life I’ve led, which has been very fulfilling.

Anonymous wrote:The wsj says there are 470,000 families worth $30 million or more. And over $200,000 worth $50 million or more. Almost 100,000 with $100 million or more.

Anonymous wrote:For my part, my kids are only in college, but when they talk about their lives, it always includes futures with spouses and kids. I have a mix of friends who have had children or not, and our kids have grown up in pretty diverse family structures within their community. But their default seems to be having a life partner and children. I feel frankly privileged that my kids have the option of seeing this future without any of the hurdles other people will face, but I also think it is in ingrained optimism. And while I am very far from a perfect parent, I’m very transparent about the joy and fundamental impact being a parent has had on me.

I am also from an immigrant family, which maybe makes a difference? I’ve grown up with a clear understanding of the hard work and goals that my parents, grandparents, and their parents had in mind. Not to be controlling, but a positive forward looking view toward the opportunities their children and their children may have. Without proselytizing I think my kids have grown up with an understanding of this very positive vision for the future. We have autonomy and free well, and can choose our own futures, and that we are also standing on the shoulders of our poor fathers. I think my kids take seriously, even at a young age, how they might be able to help the next generation.

Anonymous wrote:

Anonymous wrote:Generational wealth is incredible peace of mind. OP, you’ve got it wrong, once there’s generational wealth, the stress around money is gone. No one stresses over generational wealth.

There is always something to stress about. Your health. Your children’s health. Addiction issues. Infidelity. Depression. Anxiety. Complicated lifestyle with competing demands for attention and time. Generational wealth is not protective.

A UMC or less affluent family can live quite well and have a peaceful lifestyle. Wealth moves the goal posts. Suddenly you are stressed if your net worth drops, despite it being high. Your life grows larger with more things to worry about and manage.

Generational wealth is certainly not the pathway to peace of mind, despite what you may tell yourself.

Anonymous wrote:The wsj says there are 470,000 families worth $30 million or more. And over $200,000 worth $50 million or more. Almost 100,000 with $100 million or more.