"Clogs to clogs in three generations":
https://en.m.wiktionary.org/wiki/clogs_to_clogs_in_three_gen...
Re:How Not to Explain Success
by vintermann on Tuesday May 31, 2016 @01:58AM
(#11804897)
Plenty of heirs "lose the farm."
The transfer still worked. And people who get success more on their own sometimes lose the farm too (more often, I'd bet - I don't think there are any low risk strategies of getting richer than your parents).
Maintaining and growing wealth are different than receiving and spending.
It's much easier than getting it in the first place, though.
Sure it does.
Plenty of heirs "lose the farm."
It's been said that the first generation builds the business, the second generation manages it, and the third generation loses it.
Maintaining and growing wealth are different than receiving and spending.