It takes only three generations for inherited family wealth to dwindle significantly.

[lone]

It is a lucky break if the second generation doesn’t completely gamble it away.

 

[Apollo]

Many of them have financial/wealth managers, so even if they are retarded they still stay rich. This is why inheritance tax should be very high in order not to get aristocracies.

 

[mrlog]

Inheritance tax is daylight robbery on the working class.
The elites will always find loop holes and register shell companies etc.
Whereas the working class who are fortunate enough to inherited an estate are forced to give it all back within 2 generations.

 

[Apollo]

Inheritance tax is daylight robbery on the working class.
The elites will always find loop holes and register shell companies etc.
Whereas the working class who are fortunate enough to inherited an estate are forced to give it all back within 2 generations.

Not true. Most working class don't inherit anything. Their parents tend to blow it up before they die. The middle class inherits a lot.

 

[lone]

At the end of the day genetics is the deciding factor. You can plan all you want.

 

[mrlog]

Sxb lately ur posts have been depressive.
Did a Halimo reject u?
Waa caadi just go for a drive to niagra falls.

 

[mrlog]

Not true. Most working class don't inherit anything. Their parents tend to blow it up before they die. The middle class inherits a lot.

Markaa compare middle class and Elites.

 

[Apollo]

Markaa compare middle class and Elites.

In Europe the elite gets taxed a lot. It's only in the US and some other Anglo countries where they get away with inheritance tax evasion. This is why income/wealth inequality is much lower in Northern Europe vs the UK/US.

 

[lone]

Sxb lately ur posts have been depressive.
Did a Halimo reject u?
Waa caadi just go for a drive to niagra falls.

Tough times fam.

 

[lone]

In Europe the elite gets taxed a lot. It's only in the US and some other Anglo countries where they get away with inheritance tax evasion. This is why income/wealth inequality is much lower in Northern Europe vs the UK/US.

Schemes exist to avoid the inheritance tax

 

[Apollo]

Schemes exist to avoid the inheritance tax

Right-wing parties look the other way and keep them because they want to keep the rich rich. The left wants to get rid of those.

 

[RasCanjero-]

Inheritance tax doesn't really play into it.

There is a threshold for the poor and the rich have plenty of loopholes to work with.

It's mainly inflation and petty family members.

However most rich folks (50 mill+) have setup family offices nowadays that get them close to 5%-25% a year on their capital.

With the right binding family bylaws in place you should be able to at least keep your fortune for a lot longer.

 

[mrlog]

Tough times fam.

I feel ur pain bro, been there done that.

Nayaahe @Steamdevolopment why don't u slide into his Luuq and comfort the brotha, he's on da brink.
Even the Henny ain't cutting it.
Where's ur festive spirit

 

[Steamdevolopment]

Tough times fam.

I feel ur pain bro, been there done that.

Nayaahe @Steamdevolopment why don't u slide into his Luuq and comfort the brotha, he's on da brink.
Even the Henny ain't cutting it.
Where's ur festive spirit

One time the great Solomon asked a man that he could avoid death if he come up with a sentence that would comfort the poor and unfortunate and cause grievance and humbleness to the rich and powerful

The man took on the quest and came up with this wise sentence: This shall pass too, and thus remember brother that the tough times aren't forever and if you have grievance against others you will get justice on judgement day, so leave it be for now

 

[mrlog]

One time the great Solomon asked a man that he could avoid death if he come up with a sentence that would comfort the poor and unfortunate and cause grievance and humbleness to the rich and powerful

The man took on the quest and came up with this wise sentence: This shall pass too, and thus remember brother that the tough times aren't forever and if you have grievance against others you will get justice on judgement day, so leave it be for now

But but sliding into the DMs will help sooth the wadno

 

[Steamdevolopment]

But but sliding into the DMs will help sooth the wadno

I am too old and wise to do slides

I think @Reiko would be of better serves, with her emotional slides as self-evident

 

[Shamis]

I bought a few houses in the Midlands and I rent them out. That's my children's inheritance. They're smart kids and I hope they also build on what we already have. I inherited nothing from my parents.