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How are families preserving wealth for generations, if they aren’t engaging in safe, steady, low risk management of their wealth? Even if you ignored inflation
by chordalkeyboard 6y ago
How are families preserving wealth for generations, if they aren’t engaging in safe, steady, low risk management of their wealth?
Even if you ignored inflation, how much cash would someone have to accumulate in order to sustain a middle-class lifestyle for their family for multiple generations, if they weren’t investing and managing those investments?
- babesh 6y ago- Investing in their kid’s education in a broad sense (attitude, career). - Marrying well i.e. marrying smart and successful people so that your progeny’s genes are the best they can be. The British aristocracy was famous for doing this. Marrying old blood to new blood. However, many cultures do the same. That is why marriage was so often a negotiated affair.
- chordalkeyboard 6y agoThis is true. They invest in the education and socialization of their children so their children can go get good jobs and earn big paychecks in a well-paying, low-risk industry. However that is not the same as living on accumulated wealth for generations.
- babesh 6y agoTrue but the above compounds over time.