Why Rich Families Lose Their Wealth

Most families squander and destroy their wealth after three to four generations.

I hate when articles cite statistics without any kind of source.

Look the subject up. Their are dozens of articles written on it.

I just did, very difficult to find the source of that information. All I can find is some doctorate research that interviewed accountants and lawyers for rich people. It'd be cool if there were some hard numbers on this because at this point in my lazy search (looking at all the results for "why wealthy families lose their money" and "why families lose their money research"), it all sounds like conjecture and theorizing.

I'm a pretty big stickler about research methods.

70% of Rich Families Lose Their Wealth by the Second Generation

And I can say from experience it's true. My great grandfather had built the company Gordmans. I haven't seen any of the money from it.

I agree that it happens for sure, I'm just uncertain about the scale of it. I want the statistics themselves, not statistics about the statistics.

Pay me what you owe me Fluffy!

I'm coming for it whether you like it or not.

Well my family's Irish and weren't even here at the time so I don't owe you ****. You probably have more slaveowner blood in you than I do. :p:

Is your name Fluffy?

Also like I said earlier it would only pertain to slave owner descendants not you and your immigrant ancestors.

I might have slave owner blood in me but I have no clue. I'm curious to do a DNA kit to see every thing that's in my blood.

I'm pretty sure I'm Portuguese.

I think my dad is supposed to be Polish or something, so I'm a turn-of-the-20th-century immigrant mongrel.