How much wealth in the last generations without financial education 1
80% of millionaires are people who have made themselves, only 20% of millionaires are people who are millionaires by inheritance, lottery or a lucky break in the stock market or other conditions which shows that the more people are rich that is done by their own efforts and not to get it all by chance, however there is a problem, since even just a popular saying is both a truth that “the first generation creates wealth, the second and the third administration spends “this because of different views about money can briefly explain what happens in most cases.
The first generation: Work hard, save, invest and diversify.
The second generation: usually saw their parents worked, saved, invested and diversified, it also helped their parents to get wealth.
The third generation: was not sacrificed as if they were grandparents and did not see it very closely so that they cause a big impact, and lived in wealth and may not have worked hard in the pursuit of goods and money ( or may not have worked at all) only saw the process of investing and diversifying not to earn money, save it and undertake the projects.
In other words without the wealth of financial education a family can begin to wane or permanently in the third generation.