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

This article has nothing to do with wealthy families losing their wealth after two generations. The 70% number is a complete fabrication, they couldn't even be bothered with coming up with a more believable number like 73%, or even defining what amount is losing it. This article serves two purposes. Puffing up currently wealthy people as only being that way from pure grit and determination. No inheritance here. If you're wealthy it's because you've worked hard for it because we've…

I'm not completely shocked, and for a lot it does come down to literally greed. My grandparents immigrated to the United States on both sides of the family, and had my father and mother respectfully. They saw their work ethic and worked equally hard, reaching to high levels in their medical fields. They then had a few children including me, and now I'm the only child left "standing" because my sisters turned into classic "Southern Belles" and once the cash…

I would really like to see a study on this. I bet there's a threshold. Aren't there a lot of trusts that hold wealth for virtually forever?