Eight successful practices to sustain and grow wealth for generations

The gravest threat preventing a family from passing along its wealth from one generation to the next is poor planning and management.

Creating significant family wealth is no small feat, and serious steps should be taken to ensure that wealth survives not only into the next generation, but also for future generations beyond that. Avoiding the outcome of “shirtsleeves to shirtsleeves in three generations,” or the phenomenon whereby inheritors of wealth squander it before it reaches the fourth generation, requires discipline and vigilance.

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