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"Direct ways of transferring wealth between generations never fail." Sure it does. Plenty of heirs "lose the farm." It's been said that the first generation
by Donzo 10y ago
"Direct ways of transferring wealth between generations never fail."
Sure it does.
Plenty of heirs "lose the farm."
It's been said that the first generation builds the business, the second generation manages it, and the third generation loses it.
Maintaining and growing wealth are different than receiving and spending.
- Terr_ 10y ago> It's been said that the first generation Ah, but how diluted does it get with each increasing cohort of heirs?
- theoh 10y ago"Clogs to clogs in three generations": https://en.m.wiktionary.org/wiki/clogs_to_clogs_in_three_generations https://en.m.wiktionary.org/wiki/clogs_to_clogs_in_three_gen...
- vintermann 10y agoPlenty of heirs "lose the farm." The transfer still worked. And people who get success more on their own sometimes lose the farm too (more often, I'd bet - I don't think there are any low risk strategies of getting richer than your parents). Maintaining and growing wealth are different than receiving and spending. It's much easier than getting it in the first place, though.