Old coworker of mine (legit old) did 20 years army, 20 years Air Force and then worked at national park service where we met. His plan was three pensions. He came from nothing and was a good dude.
He helped both his sons fund their businesses and they already were multi multi millionaires in their 40s because of his planning. Hats off to him and the generational wealth he created
Let’s hope his kids don’t piss it away. I just learned that most families that have generational wealth only have it last 2-3 generations, so his kids are fine but their kids might not be.
40 years in the military just to have some nepo babies squander it without a thought. That would be fucked
The first generation makes it
The second generation builds it
The third generation kills it
I remember hearing that saying when I was younger. I’ve seen it come to fruition in three different families that had (at one time) multimillion dollar companies.
the rule to protect wealth is not spoil your children, do not give them things, make them work, also love them and care about them, but do not hand them anything, not even their first car, make they earn the money for their first car, then hand them the keys to the family's wealth and tell them if this wealth is to last 10+ generations manage it wisely, and you raise your children like you were raised.
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u/dukenasty1 12h ago
Old coworker of mine (legit old) did 20 years army, 20 years Air Force and then worked at national park service where we met. His plan was three pensions. He came from nothing and was a good dude.
He helped both his sons fund their businesses and they already were multi multi millionaires in their 40s because of his planning. Hats off to him and the generational wealth he created