Wealth|Knowledge and Action… Creates Wealth
Jul
17
Filed Under (Personal Finance) by wealth
why not? asked:
Or wealth that has been within the families for generations more immune to things like recessions,downturns, as opposed to same one who is self-made.
tolleson wealth management
Or wealth that has been within the families for generations more immune to things like recessions,downturns, as opposed to same one who is self-made.
tolleson wealth management
Comments
oracleofohio on 18 July, 2009 at 8:15 pm #
The accumulation of interest. Families with generational wealth typically have the money for such a long period of time that the investments and assets have had years to grow and they never really tap into the initial wealth itself. (did that make any sense?? lol) A newly self made person is tapping into the wealth…not interest earned….
I’m sure there are other reasons such as paid for assets passed down and tax breaks…
STEVEN F on 21 July, 2009 at 3:52 pm #
Old wealth is NOT more stable then new wealth. 90% of US millionaires are FIRST generation. That means their parents WERE NOT millionaires. Self-made millionaires became millionaires by PROVING they could live on less than they earn. Those who inherit wealth, tend to spend more than the earn and LOSE the money.
Post a Comment
