Generational Wealth is any assets passed down by one generation of a family to another. This can include financial assets, real estate, businesses and heirlooms.
Most people assume wealth is passed down like a family recipe or inherited bags of money. The reality: around 80% of millionaires built their wealth themselves. And even when families do create wealth, it often doesn’t last. Many studies show a majority of family wealth is lost within two to three generations.
The top 1% of households control about 31–32% of all wealth in the United States. The top 10% begins at roughly $1.6 million in net worth. Meanwhile, the median U.S. household (50th percentile) has a net worth of about $190,000.
