haxor@derp.fooMB to Hacker News@derp.fooEnglish · 2 years agoBillionaires amass more through inheritance than wealth creation, says UBSwww.ft.comexternal-linkmessage-square3linkfedilinkarrow-up1106arrow-down12file-textcross-posted to: workreform@lemmy.world
arrow-up1104arrow-down1external-linkBillionaires amass more through inheritance than wealth creation, says UBSwww.ft.comhaxor@derp.fooMB to Hacker News@derp.fooEnglish · 2 years agomessage-square3linkfedilinkfile-textcross-posted to: workreform@lemmy.world
minus-squareLvxferre@lemmy.mllinkfedilinkEnglisharrow-up15·2 years agoRelevant detail: the amount of wealth that you’ve inherited allows you to take riskier and thus more profitable decisions to accumulate further wealth later on. So it is not an “either this or that” matter - it’s both.
minus-squareGork@lemm.eelinkfedilinkEnglisharrow-up8·2 years agoYeah if I had a several million dollar inheritance it is trivial to spin up a new business and make more money. Otherwise it’s business loans and stressing to get those paid off while keeping a profitable business.
Relevant detail: the amount of wealth that you’ve inherited allows you to take riskier and thus more profitable decisions to accumulate further wealth later on. So it is not an “either this or that” matter - it’s both.
Yeah if I had a several million dollar inheritance it is trivial to spin up a new business and make more money.
Otherwise it’s business loans and stressing to get those paid off while keeping a profitable business.