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What happens next is interesting too. It takes many forms afterwards. I think many here/on this topic view this as a happily ever after scenario where then the
by conductr 4y ago
What happens next is interesting too.
It takes many forms afterwards. I think many here/on this topic view this as a happily ever after scenario where then there is a family tree full of successful people doing interesting things at low personal risks.
My grandpa was a Gen 4 in your lineup. He was essentially a trust fund kid that never worked and just squandered the significant savings and assets of his depression era parents. My dad got some rather minor assets. Or so I heard growing up. In reality he got a free house, the one I grew up in, and several debt free rental units/cash flow. Not luxury apartments but growing college town type market. He was essentially a minor league trust fund kid who was bitter about having to work to afford everything he wanted (something he never saw his dad do). He kept a mediocre job and never strived for much. He was more interested in exotic cars, fashion, women, etc. He ultimately blew through all his inheritance in by my young adult years. I got nothing but a stable home environment growing up. Paid for my own college, cars, and everything else. I know many others in similar situations where gen 4-6 seems to be highly correlated to addiction, crime, etc. and just never strive for more.
I feel like I’m just starting over with no real advantage. Similar to maybe what gen 2 had.
- bigcat12345678 4y ago"Wealth does not last more than 3 generations" This is my translation from "富不过三代”, an old Chinese saying about the impossibility of sustaining wealth. In some similar way, the power and wealth of a nation also is unsustainable. Every powerful nation falls eventually. And even the whole earth undergo patterns of up and down. 20th century seems a peak of human civilization, and 21 century seems a slow match to the inevitable crash...
- blitzar 4y ago"Shirtsleeves to shirtsleeves in three generations" Thats what I was tought as a kid... although oop north in the UK they say "clogs to clogs in three generations".
- bigcat12345678 4y agoWow, cannot believe there is another saying so close to the Chinese one...