Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Biodom
on 03/08/2023, 15:35:12 UTC
⭐ Merited by JayJuanGee (1)
Inter-generational wealth is a nice dream, but for most it ain't going to happen even if bitcoin skyrockets.
Why? Because you don't really have full control over how the following generations would squander it.
Yeah, yeah, I am aware of trusts, etc.

Still, sometimes "you can bring the horse to water but you can't make it drink".
Typically, it is all lost within 2-3 generations (at most). In 70% it is lost by second gen and in 90% by the third.
https://romanosumner.com/blog/avoid-losing-generational-wealth/

Of course, everyone knows about Rothschilds and few others, but it is an outlier, an exception, so don't keep your hopes up too much, be realistic about it.
That said, giving the 'wealth' away in donations to extended family and charities (once bitcoin is in $ seven digits and even few bitcoins would represent something substantial) is an attractive proposition.