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Caveat: It is estimated that 70% of wealthy families will lose their wealth by the second generation, and 90% will lose it by the third. https://www.nasdaq.com

by nreece 5y ago

Caveat: It is estimated that 70% of wealthy families will lose their wealth by the second generation, and 90% will lose it by the third. https://www.nasdaq.com/articles/generational-wealth%3A-why-do-70-of-families-lose-their-wealth-in-the-2nd-generation-2018-10 https://www.nasdaq.com/articles/generational-wealth%3A-why-d... https://money.com/rich-families-lose-wealth/ https://money.com/rich-families-lose-wealth/

1-6 5y ago
'The Millionaire Next Door: The Surprising Secrets of America's Wealthy', the author of this book has also pulled together data to show that wealthy families usually end extending financial life-lines to their children. It's not surprising that most wealthy neighborhoods are inhabited with people who are the first generation to become rich sprinkled with a few wealthy inheritors but most of the time the wealth stops with them.