Wealthy grandparents and parents have learned to fear trust fund babies — and with good reason. Trust fund babies are infamous for leading pointless, consumer-oriented, slothful lives. Based on our experience during the past 25 years, roughly 80 percent of the third-generation rich do not work: and this is not necessarily a good thing. Robbed of the incentive to earn a living, heirs too often work at nothing at all; taking no risks; overcoming no challenges; creating, learning and producing ...

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