Don’t you think this is the start of generational wealth?

[Anonymous]

My dad’s worth £7mill (8-10mill US). By the time I inherit it, it will probably be double.

My plan is to take over it and 10 fold it carrying on expanding his businesses. His clinics have a lot of untapped private potential. Carrying on buying property 🏡

I’ll inherit the businesses in the next 5 years

This is why I became a doctor and all my siblings are too but it’s up to me to carry on the name as the main son

This is really good and sounds like the start of generational wealth

It’s not

Other

[jshm2]

Your mom is entitled to half, and your dads partners are probably entitled to most of the other half.

You can only call it "generational wealth" if you're at least the 2nd or 3rd generation to hold that wealth or assets. Which it doesn't read like you are.

Reads like you've a lot of debt, and nothing much in real wealth. I assume "clinics" to mean you have a couple, and only "7 million for two" is nothing much. A typical health clinic will set you back around 2 million to buy and refurbish, the costs and running are around the same.

[Ereza]

@jshm2 I’m the owner of the question. My dad has NO PARTNERS. Also my parents are not divorced.
Why you chatting shit? We ain’t in any debt, we’re not paying off anything 😂 you’re just mad jealous you will never be 1/10 of what we are. You don’t even know what you’re talking about. His clinics are gold mines, they make him a fuck ton of money you dummy.

[Ereza]

I’ll tell you something crazy, my dad has never had to borrow money.
Like I said you you’re just mad jealous. Even if my dad stopped working he’ll still be making a lot of money from all his income streams - he’s wealthy.
He’s got 16flats he lets out making him 6 figures alone 😂

[Ereza]

My parents live alone in a 8 bed mansion 5000-6000 sqfeet 2mill. A house made for a king. Yes that’s nothing much 😂
Really struggling 😂

[jamesgoldman]

Possibly, generational wealth requires growth focus with little spending

My late antique dealer was the first generation and aside from business matters, her only big expenses were her farm and the vehicles

N. b. she'd bought her daughter had a Triumph spitfire as an 18th birthday present and got a Jaguar e-type for her 21st (preferred the Triumph, so the e-type was garaged inside a year and unmoved for 30 more)
Her own cars were an 80's Land Rover Defender (bought new and well maintained) and the mid 00's Navara pickup mostly used on the farm (bought new and allowed to run down)

Her daughter is a likely to hold on to the wealth but probably spend more of the income than reinvest it

The grandkids will blow it, my antique dealer didn't get on with them after they scrapped a lot of antique silver and gold that was in the shop

[exitseven]

I guess it is really good to have rich parents. I bet you never had to sweat making a tuition payment

[TheSpaceGnome]

Generational wealth is good. Families should keep secure futures for offspring.

[Anonymous]

"Fmilies are always rising g and falling in America" -Nathanial Hawthorne

I'm actually quoting The departed I don't know if Hawthorne actually ever said that.

[tfan1]

I just don’t know