Oddbean new post about login | logout As I've gotten a little older, I've started to learn that generational wealth has much less to do with passing money/assest than it does with love, support, health, education, and opportunity.
This yes! This is the problem I see in bitcoin communities tbh, is the focus on money at the expense at all else. We don't need more rich asseholes. We need more People living transformational lives and sadly, the bar for that is low. Love, health, curiosity, morals etc...
Education is key. Extreme wealth can be squandered in a matter of months. The future generations need to understand how to maintain their inherited wealth and how to invest and grow it.
The whole "Teach a man to fish" comes to mind. Teaching your son how to get in shape, discipline, work ethic, how to dress, how to speak, how to meet people and so on. Are far more valuable to building and maintaining wealthy than simply passing money along.
If your values are what made you wealthy, passing those values on for more than 3 generations is critically important, but rarely successful.