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It’s trivial to identify a statistic to support the authors claim. People inherit money all the time, ranging from sums insufficient to cover funeral costs - to
by lumost 5y ago
It’s trivial to identify a statistic to support the authors claim. People inherit money all the time, ranging from sums insufficient to cover funeral costs - to enough money to last 1000 generations.
So coming up with “70% lose their wealth” amounts to choosing a threshold on inheritance where people are inheriting good money, but not extreme sums.
It’s easy to burn a 2 million dollar inheritance, and pretty much impossible to lose a billion dollar inheritance.
- andi999 5y agoCan be done, from at one time 3 billion to not that much: https://en.m.wikipedia.org/wiki/Madeleine_Schickedanz https://en.m.wikipedia.org/wiki/Madeleine_Schickedanz
- blablabla123 5y agoChances are that by the time wealth gets passed on a sum in the same order of magnitude has been already saved by the (grand)children. Probably the greatest leverage is at a young age. Of course this requires teaching about personal finance.