Most Wealthy Individuals Earned, Not Inherited, Their Wealth
http://www.fiscalisadvisory.com/assets/pdfs/how_the_wealthy_get_that_way.pdf
Wealthy people are made, not born. 80% of millionaires are the first generation of their family to become wealthy. Interestingly, most of the very wealthy families leave a major portion of their estates to charity. Children who inherit significant wealth without achieving it on their own seldom manage money well. As one wealthy man told me, "if money comes too easily, it isn't properly respected." A large inheritance can often undermine the character of the recipient because they don't have to focus on adding value to the world. This often happens when parents continue to support adult children.
http://www.fiscalisadvisory.com/assets/pdfs/how_the_wealthy_get_that_way.pdf
Wealthy people are made, not born. 80% of millionaires are the first generation of their family to become wealthy. Interestingly, most of the very wealthy families leave a major portion of their estates to charity. Children who inherit significant wealth without achieving it on their own seldom manage money well. As one wealthy man told me, "if money comes too easily, it isn't properly respected." A large inheritance can often undermine the character of the recipient because they don't have to focus on adding value to the world. This often happens when parents continue to support adult children.