Comments by "Maggie Jetson" (@maggiejetson7904) on "Why Do Family Fortunes Disappear? - How Money Works" video.

7 generations prior my family was super loaded, but by the time my dad was a kid we were starving. Politics, bad investments, laziness, etc all did some random to the family wealth, and my dad grew up poor eventually climbed back into middle class partly from hard work partly from luck. The #1 reason people lost their family wealth are bad investment, usually some sort of leverage, and the same strategy that made your family wealthy no longer worked after a few generations. Diversify my friend, diversify.
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