How To Make Your Family Wealth Last Through the Generations
Many prestigious families throughout history lost their fortunes within just a few generations. Consider the Vanderbilts, whose fortune originated in the railroad industry. In the 19th century, their wealth amounted to a staggering $200 billion1 in today’s money. However, once the grandsons inherited that wealth, they squandered it on lavish Gilded Age mansions2 and expensive…