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Wealth Does Not Pass Three Generations
boozich
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9-26-2009 6:09 PM
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10-6-2009
4:16 PM
ramsesemerson
interesting.
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/5964e87b-b18e-4038-aaf8-e341d9a19fe8/A6516BCD-D655-4ADA-881E-F6699F8B7F1D/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://muzich.blogspot.com/2009/09/wealth-does-not-pass-three-generations.html" href="http://muzich.blogspot.com/2009/09/wealth-does-not-pass-three-generations.html" style="font-size: 11px;">muzich.blogspot.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://muzich.blogspot.com/2009/09/wealth-does-not-pass-three-generations.html"><BLOCKQUOTE cite="http://globaleconomicanalysis.blogspot.com/2009/02/wealth-does-not-pass-three-generations.html">Chinese have an expression</BLOCKQUOTE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://muzich.blogspot.com/2009/09/wealth-does-not-pass-three-generations.html"><BLOCKQUOTE cite="http://globaleconomicanalysis.blogspot.com/2009/02/wealth-does-not-pass-three-generations.html"> <A target="_blank" href="http://www.moneyweb.co.za/mw/view/mw/en/page38?oid=235930&sn=Detail">富不过三代 (fu bu guo san dai) Literally: Wealth does not pass three generations</A></BLOCKQUOTE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://muzich.blogspot.com/2009/09/wealth-does-not-pass-three-generations.html"><DIV>Meaning: It's rare the wealth of a family can last for three generations (the 2nd may see the value of hard work, the 3rd, forget it).</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://muzich.blogspot.com/2009/09/wealth-does-not-pass-three-generations.html"><DIV>Year zero: First generation: Wealth creation</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://muzich.blogspot.com/2009/09/wealth-does-not-pass-three-generations.html"><DIV>Year 45: Second generation: Wealth preservation</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://muzich.blogspot.com/2009/09/wealth-does-not-pass-three-generations.html"><DIV>Year 75: Third generation: Wealth destruction</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://muzich.blogspot.com/2009/09/wealth-does-not-pass-three-generations.html"><BLOCKQUOTE cite="http://globaleconomicanalysis.blogspot.com/2009/02/wealth-does-not-pass-three-generations.html"><SPAN>The Role Of Attitudes</SPAN></BLOCKQUOTE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://muzich.blogspot.com/2009/09/wealth-does-not-pass-three-generations.html"><BLOCKQUOTE cite="http://globaleconomicanalysis.blogspot.com/2009/02/wealth-does-not-pass-three-generations.html">towards debt and asset accumulation over time</BLOCKQUOTE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://muzich.blogspot.com/2009/09/wealth-does-not-pass-three-generations.html"><DIV>Few alive remember the great depression. Most boomers headed into retirement have seen rising asset prices all their lives. Those boomers thought they could live off their houses and/or investments in the stock market, expecting prices to rise forever, even though it was mathematically impossible for that to happen. Now, headed into retirement, boomers are realizing they are actually savings poor given that asset prices have crashed.</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://muzich.blogspot.com/2009/09/wealth-does-not-pass-three-generations.html"><DIV>Three generations from now the lessons of today will have again been forgotten and the cycle will repeat.</DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/A6516BCD-D655-4ADA-881E-F6699F8B7F1D/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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