I just got out of a seminar on global financial analysis. One of the speaker's areas of specialty was family wealth management. He informed us that 90% of families create and destroy their wealth within three generations. Moreover, the majority of those who inherit money spend it within the first 18 months. Dismal, yes?
The beauty of a bad economy is that, in my parents clever words, "We never had any money to begin with!" As I listened to these statistics I felt golden. This is one thing I won't have to worry about!
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