Fucking out of your mind? Go back to Politics you moron.
The richest woman of the gilded age
- Thread starter Pekelo
- Start date
Fucking out of your mind? Go back to Politics you moron.
Good post MW.
Isn't it funny though,that most of us would aspire to creating enough wealth that it becomes generational wealth,yet the beneficiaries would be seen as:
"daughter of a rich..."
Since when are cronies and do nothing rich worthy of admiration? Inheriting was not a praiseworthy skill last time I checked".
Not sure what the answer is there.
I never aspired to create generational wealth. I taught my kids well and they all signed notarized agreements about 5 years ago to agree to not inherit a single penny. That conversation lasted 15 minutes, not one of the kids disagreed. That's how you raise kids, to equip them well in life, invest in them and make them earn their own financial safety cushion. Fuck generational wealth, this is the real ill of this world and breeds corruption and laziness. In my opinion every single penny of inheritance funds should be taxed 100%. Complete disincentive to pass on anything. Every penny leftover when someone passed goes into public hands, managed by those with a fiduciary duty to generate decent returns for the public. Any wealth invested in corporations will pass on into a trust that continues to own the corporation and keeps or replaces management. That's how you get rid of corruption in the highest political circles. And how you make the middle class whole.
Interesting take and I understand your frustration from a personal growth perspective.
However,wouldnt that mean that the family never reaches its full potential? i.e it starts from scratch each time rather than potentially growing exponentially?
So why didn't her son or nephew pay for it themselves?? If she's that rich, hard to imagine that her son or nephew would be so poor that they can't afford to even pay for surgeries.
Assume this is true, what are you going to do with your money, assume there is some left over after you pass on? Burn them in a fireplace or shred them in a shredder? If your answer is donating to charities, you are still creating generational wealth, the only difference is the difference in the recipients. Instead of passing it on to people who are related to you, you opt to pass it on to people who are not.
Again, assuming this is true, it's very noble of your children to have respected your wish but if they have inherited your wealth, I am 100% certain they would still be well-adjusted and positive individuals. The only difference is you have denied them, actually half of your future self the opportunity to carry on your legacy and continue to develop and grow it to something even more phenomenal. And 100% tax on inheritance? LOL You assume the government will manage the inheritance better than your children? If you believe so much in the state, why don't you pay 100% tax now on all of your income? Why don't you hand every single penny of your income now to the government to manage? Why wait until you are six feet under to hand everything to the government? LOL
As I have known always, you are just a troll, putting in thoughtless crap full of contradiction just to garner attention.
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Recall what "miser" means. She probably was not prone to just giving away money to others, including her own family.
I don't quite understand the concept of "full potential through generational wealth" that you refer to. Success in life is measured by how well an individual ran the race. That has absolutely nothing, really, nothing, to do with where one starts. It has to do everything with what you do with the talents and skills that you were born with and that one acquired throughout life and compassion shown to others along the way.
We measure success in finance exactly the way I described above hence I am even more confused why some don't "get it". Someone who doubled a one million dollar account at given risk metrics is deemed more successful than someone who generated 5 million in a 100 billion dollar account with similar risks metrics. It's called relative comparison, meaning, it takes into account where someone started.
In this messed up world, however, new generations seem to learn early on to value each other not by what one accomplished but by what one has, regardless of where it came from. This is the stupidest concept I can possibly think of.
We measure success in finance exactly the way I described above hence I am even more confused why some don't "get it". Someone who doubled a one million dollar account at given risk metrics is deemed more successful than someone who generated 5 million in a 100 billion dollar account with similar risks metrics. It's called relative comparison, meaning, it takes into account where someone started.
In this messed up world, however, new generations seem to learn early on to value each other not by what one accomplished but by what one has, regardless of where it came from. This is the stupidest concept I can possibly think of.
Psst, let grown ups speak about the truly important stuff that matters in life. You and mono get back to valuing your little options plays. I hear a big day is upon us. Careful out there.