Why do 70% of families lose their wealth in the 2nd generation? (2018)

Re:Why do 70% of families lose their wealth in the 2nd gener... by civilized on Saturday January 08, 2022 @10:36AM (#29852609)

I agree that the 70% figure appears to be BS but I don't think social commentary is the goal here. I believe the article is targeted at wealthy people and is trying to soft-sell scare them into spending more money on preventing future generations from wasting what they built.

Note how it urges them to employ a "Financial Planning Professional" near the end. Googling suggests this puzzlingly capitalized phrase is an umbrella marketing term for CFPs and other people with financial planning certifications.

Source: I work for a company that is constantly marketing to the wealthy and I know it when I see it.

[ Parent | on HN ]

Re:Why do 70% of families lose their wealth in the 2nd gener... by dsizzle on Saturday January 08, 2022 @10:51AM (#29852773)

Yeah, the article is focused on what to do about it, not convincing you that it's true.

[ Parent | on HN ]

Re:Why do 70% of families lose their wealth in the 2nd gener... by inter_netuser on Saturday January 08, 2022 @12:15PM (#29853695)

what's the minimum amount of wealth do you think they are targeting in the article?

[ Parent | on HN ]

Re:Why do 70% of families lose their wealth in the 2nd gener... by civilized on Saturday January 08, 2022 @12:55PM (#29854208)

Anyone who's going to pass down an estate of $1M or more.

[ Parent | on HN ]