What exactly is GENERATIONAL WEALTH?

[Auger]

Money that can be passed down the line to future generations. That’s the simple version

Doesn't have to be money, can be property, business, intellectual property, an estate...etc

People believe it means money, but it can (and most often) just means a way for future generations to make a living.

 

[BlackJesus]

I always hear the words generational wealth thrown around like a frisbee, but nobody ever really describes what it means in the grand scheme of things...

Is it money? If so unless we're speaking from a class point of view in terms of income, what wealth does a poor person really have if they live on services or work low/minimum wage jobs? What wealth can they build from that? I can't envision poor people building generational wealth outside of momentary wealth.

Children? If that's the case okay I get it in terms of passing genes / "looking towards the future" yada yada...but you can never tell the future beforehand and what it holds for them, financially.

Or something else?

So I'm asking what exactly is generational wealth and does it even mean anything outside of a particular class of people, who've already obtained wealth in the first place?




*Don't come inside the thread all preachy either...just straightforward answers*

Just because you lack the imagination, doesn't mean it hasn't been done

 

[Antwon Mitchell]

Just because you lack the imagination, doesn't mean it hasn't been done

I'm full of imagination but looking at the realities...

You do the math.

 

[Auger]

Yeah, but what money does a poor person have that can be saved and passed down?

Which is why I'm looking at generational wealth as a class (income) topic because unless we're talking about six/seven figure groups of people, I don't see poorer lower income individuals doing the same thing.

A piece of real estate, like a house that has been fully paid off or a farm that a set of grandparents owned.

 

[-G$-]

I make $185k (plus unaccounted bonuses) in yearly salary and my wife makes $145k a year so in total our household makes $330k yearly...so we're living large in NYC .

... yet you’re not clear as to what “generational wealth” is...


























@Barnett114 is this Reggie’s alt???

 

[Antwon Mitchell]

... yet you’re not clear as to what “generational wealth” is...


























@Barnett114 is this Reggie’s alt???

Nikka stop stalking me and then you wonder why I think you are a legit fakket and this question isn't about me but out of curiosity... since I was wondering how poor ppl can build generational wealth if they don't work high paying jobs, own property etc.

Who's Reggie ?

 

[Deflatedhoopdreams]

My dad owns three houses paid for.

 

[-G$-]

Nikka stop stalking me and then you wonder why I think you are a legit fakket and this question isn't about me but out of curiosity... since I was wondering how poor ppl can build generational wealth if they don't work high paying jobs, own property etc.

Who's Reggie ?

You the Paul Bunyan of thecoli.com , stuck on tall tale status. You’s a a fukkin’ bozo

 

[10bandz]

I disagree with this

Poor people can and should but it's only possible with group economics, and not with the individualist "I'm gon get richer than all you nikkas" mentality

I also believe that's the reason polygamy is illegal in the western society. You could easily live a lavish life if it was legal

yeah group economics could help for sure.

 

[UberEatsDriver]

A poor person can save money also.

but a lot of people remain cash poor cause sometimes they make silly decisions.

like the family who can only afford a houses monthly payments but can’t afford to upkeep the house

 

[Antwon Mitchell]

You the Paul Bunyan of thecoli.com , stuck on tall tale status. You’d a a fukkin’ bozo

If you don't stop harassing/stalking me I'm going to report you to the ADMIN/HEAD MODERATOR of the site...not one these side clowns who take part in these online games.

 

[Deflatedhoopdreams]

My dad owns three houses paid for.

And we ain’t selling.

 

[-G$-]

If you don't stop harassing/stalking me I'm going to report you to the ADMIN/HEAD MODERATER of the site...not one these side clowns who take part in these online games.

What happened to all that street action you were about a few days ago?

Now you running to the authorities?

 

[Mike Nasty]

Nikka stop stalking me

How do you make over 300k a year and not know what generational wealth is?

 

[Antwon Mitchell]

What happened to all that street action you were about a few days ago?

Now you running to the authorities?

Since you digging up about me...look up my pop on how he was a detective for over 35yrs plus my family having long ties to law enforcement in NYC...like I told you before my "street shyt" isn't exactly what YOU think.

Keep stalking me and we have ways to find out your IP address/location...since my dad has friends who work in that department as of this day...so you need to make up your mind now. Either you stop following me around or we'll find you..since you're in NYC right?

Make your decision.