That three generations thing is pretty well established although I’m sure there are exceptions but I read an article once going over how many white males got rich and the fortune was lost by the time it got to their grandchildren so the “generational wealth” is a terrible excuse
I may have misspoken, but I was focusing on black people. It feels like they have a really hard time hanging onto generational wealth if they happen to make it. Generational wealth among whites and Asians lasts 3 generations, but among blacks it's often lost immediately to the next generation.
Oh. I get that. I was just saying you can find heirs who blow a fortune due to bad decisions. But yes on average blacks have worse spending and saving habits. I saw a YouTube video of this black lady who was a bank officer and stated it plainly that her white customers generally have better savings and make better choices whereas her black customers didn’t or burned through any money they did have. She said especially now it makes no sense because there are so many resources today regarding finance advice.
That three generations thing is pretty well established although I’m sure there are exceptions but I read an article once going over how many white males got rich and the fortune was lost by the time it got to their grandchildren so the “generational wealth” is a terrible excuse
I may have misspoken, but I was focusing on black people. It feels like they have a really hard time hanging onto generational wealth if they happen to make it. Generational wealth among whites and Asians lasts 3 generations, but among blacks it's often lost immediately to the next generation.
Oh. I get that. I was just saying you can find heirs who blow a fortune due to bad decisions. But yes on average blacks have worse spending and saving habits. I saw a YouTube video of this black lady who was a bank officer and stated it plainly that her white customers generally have better savings and make better choices whereas her black customers didn’t or burned through any money they did have. She said especially now it makes no sense because there are so many resources today regarding finance advice.