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While I think there are several larger factual errors in your comment, it may not matter because it seems like we’re talking about totally different things. >
by mlthoughts2018 7y ago
While I think there are several larger factual errors in your comment, it may not matter because it seems like we’re talking about totally different things.
> “I'm not just talking about total financial ruin, I'm talking about staying rich over multiple generations.”
I think the OP and my comments are all only talking about wealth outcomes over a single lifetime for a person born wealthy. AFAICT no part of this thread was about multi-generational wealth, and for multi-generational wealth I largely agree with your broader points.
- gridlockd 7y agoThere is the point that I originally made: "Families that have been wealthy over generations have figured out how to do this, while the "noveau riche" often fail after one or two generations." That also implies that if you're born into "old money", you most likely will stay rich. Just being "born rich" isn't sufficient though.