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> The best way to get ahead is to inherit wealth. I think you need to define ‘best’ here. 80% of American millionaires today are first generation wealth, so if
by djrogers 7y ago
> The best way to get ahead is to inherit wealth.
I think you need to define ‘best’ here. 80% of American millionaires today are first generation wealth, so if by ‘best’ you meant ‘most likely’, you’d be wrong.
[1] https://www.investopedia.com/financial-edge/0810/7-millionaire-myths.aspx https://www.investopedia.com/financial-edge/0810/7-millionai...
- imesh 7y agoI don't think of most millionaires as being particularly wealthy. Most millionaires are simply people who can retire at 60.
- devcpp 7y agoFunny, because you'd be wrong about billionaires too, 69% of them are first generation https://www.cnbc.com/2014/10/03/two-thirds-of-billionaires-made-it-themselves.html https://www.cnbc.com/2014/10/03/two-thirds-of-billionaires-m... So which is it?
- viklove 7y agoRight, but how many of those billionaires started as millionaires (or were born into a millionaire family)? When you have generational wealth, it's much easier to take risks.
- Dylan16807 7y agoWhat do you mean 'which is it'? imesh didn't say anything contradictory. But thank you for bringing some more relevant evidence. It's good that inheritance seems to be less than half at all levels. But I'd still say getting it for free is 'best'.
- jayd16 7y agoYou're looking at this backwards. How many 2nd generation m/billionaires stay that way vs the average person becoming a first gen m/billionaire.