Why Aren’t Most People Wealthy Today Through the Passing Down of Wealth and Compound Interest?
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Why aren't you the beneficiary of generations of wealth accumulation by your ancestors? The short answer is it gets diluted as the family tree branches out and as younger generations squander their inheritance. Of course, for that to happen wealth must exist in the first place. Reality is that throughout most of history, most humans have been dirt poor peasants. Until recently, labor (because of its abundance) has never really been a way to build personal wealth, so preservation of wealth was only an issue for a small proportion of landowners.
Why Aren’t Most People Wealthy Today Through the Passing Down of Wealth and Compound Interest?
Why Aren’t Most People Wealthy Today Through…
Why Aren’t Most People Wealthy Today Through the Passing Down of Wealth and Compound Interest?
Why aren't you the beneficiary of generations of wealth accumulation by your ancestors? The short answer is it gets diluted as the family tree branches out and as younger generations squander their inheritance. Of course, for that to happen wealth must exist in the first place. Reality is that throughout most of history, most humans have been dirt poor peasants. Until recently, labor (because of its abundance) has never really been a way to build personal wealth, so preservation of wealth was only an issue for a small proportion of landowners.