How many generation does average wealth last?

[marcusfe]

Wealth in my own understanding is not contagious by can be transferred to another generation. We have seen some wealthy people who died and their wealth died with the while we have seen some whom after years of their departure their wealth still lingers. I can't say for sure what made the difference between these two set of people or could it be their intention to make it happen that way. Now from general perspective and experience how long do you think a wealth can be transferred to another generation before it finally disappear?

 

[Queentener]

Being wealthy is not only having enough money to meet your needs but being able to afford not to work if you don’t have to. It’s about amassing assets and making your money work for you. In other words, it’s having a significant net worth. So in my own opinion I don't think wealth can disable except the assets where liquidated, I mean except the assets where sold, we make this mistake most types calling a rich person who just has money to spend to be a wealthy person, I will agree that if a rich person dies the richness might likely die with them, because they have money but doesn't have assets.

 

[Chibson]

Actually there is no guarantee you that they were what were the last to a certain generation. There are people who have maintained their wealth to even 3-4 generations. There are also people whose wealth did not even last to a second generation. This may be likened to the ability of whosoever that is in charge of the wealth to maintain the status.

 

[Adetayo100]

There are families whose wealth are over 3 or 4 generations and the wealth is still very strong, it all depends on the how the family manages it is resources or wealth. There are also ones where the money doesn't last at all due to mismanagement or lack of spending well.

 

[Teatea]

Yes wealthy people pass down wealth to their offsprings or generation. If you mismanage money, billions may disappear in matter of a day. The duration of a wealth in a family depends solely on how well it is managed, if the person it was passed on to decides to spend it on lavish things without putting in the work done by the previous person, then the wealth might not even stay throughout his/her lifetime.

 

[springtech]

Wealth in my own understanding is not contagious by can be transferred to another generation. We have seen some wealthy people who died and their wealth died with the while we have seen some whom after years of their departure their wealth still lingers. I can't say for sure what made the difference between these two set of people or could it be their intention to make it happen that way. Now from general perspective and experience how long do you think a wealth can be transferred to another generation before it finally disappear?

This is a serious question as there is no scientifically proven answer yet to date. Wealth owned and initiated by one generation can end with that generation if care is not taken, and on the other hand it can be transferred from one generation to yet another. For instance if my great grand father was a great cocoa farmer with 200 acres of cocoa plantation, he might have handed down the farm to my grand Father who also continued and carried on his estate, handling it down to my father. But unfortunately if my father is one useless drunkard, polygamous who take pleasure in acquiring unnecessary liabilities and lived recklessly, if care is not taken, he will soon be in debt not having anything to hand over to my generation. What a pity. But with discipline he might be able to hand same heritage down to me and i also do the same to my kids.

 

[IamDozzy]

It depends on how well your offsprings can manage your wealth when you are gone. If your offsprings are able to manage your wealth well, it can last for so many generations. There is even a potential for the wealth to be increased. But if your offsprings can manage your wealth then it wouldn't even last a decade. This is why it is important for wealthy parents to teach their children the value of money and how to manage it.

 

[Shigobad2020]

The average generation a wealth can last is 3generation, that is if the other 2generations are lazy and are not working to keep the wealth, but if the coming generations are working hard, I believe the wealth will last up to five to six generations.

 

[Alexandoy]

There is a saying in our culture that a person is very rich if his children and grandchildren will not need to work anymore and live in a luxurious life. That is our measure of wealth. One example now is Bill Gates who is one of the richest in the world. I think it is not only his children and grandchildren but also his great, great grandchildren will not need to work anymore.