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A comment on Why do 70% of families lose their wealth in the 2nd generation? (2018). Parent comment

Re:Why do 70% of families lose their wealth in the 2nd gener... by _the_special_ on Saturday January 08, 2022 @03:19PM (#29855728)
I understand this is all relative. I come from an African country but even there around 250 acres of both residential and agricultural land is significant money. I'd say only about 20 acres are left where the owners are one of the ancestors.

My dream is to one day repurchase some of the lands and have financially sounder children that could take care of it ;)

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Re:Why do 70% of families lose their wealth in the 2nd gener... by Misdicorl on Saturday January 08, 2022 @05:34PM (#29857200)
It's a good point. I can I imagine a family having the local purchasing power (homes, a night on the town, etc) of a hundred millionaire family but that wealth diminishing quite quickly when used to consume luxury goods marketed to very expensive countries.
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