AfroEconomics #60: Three Commitments to Generational Wealth

Many wealthy families lose 90% of their wealth by the third generation. First generation builds wealth by working hard and making sacrifices. The second generation grew up watching their parents struggle, witnessed their hard work, discipline and sacrifice. But are more comfortable because of their parent’s success. The third generation never experienced struggles and sacrifices, did not see the hard work, and does not understand the value of money.