There’s a saying I’ve heard often, think it’s Chinese in origin, “Wealth lasts three generations”.
A friend’s explanation was the first generation makes the wealth, the second generation, seeing their parent’s hard work, maintains the wealth, but the third generation, only knowing privilege, wastes it.
But I’ve realized above a certain financial bracket this seems to not apply.
There’s a saying I’ve heard often, think it’s Chinese in origin, “Wealth lasts three generations”.
A friend’s explanation was the first generation makes the wealth, the second generation, seeing their parent’s hard work, maintains the wealth, but the third generation, only knowing privilege, wastes it.
But I’ve realized above a certain financial bracket this seems to not apply.
At a certain other of magnitude, failure requires clever deliberation.