"There is very little real risk associated with this strategy" Once you get to inter-generational wealth there is catastrophic risk that is almost uninsurable;

"There is very little real risk associated with this strategy" Once you get to inter-generational wealth there is catastrophic risk that is almost uninsurable; managing that risk is extremely difficult. It is not as simple as "buy bonds", you have to deal with things like confiscatory tax rates, hyperinflation, default, being targeted by the government as a juicy source of funds, fall of a government you had previously been associated with, a dumb heir coming into control of the fortune and getting swindled... If being rich was easy everyone would do it.