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Wealth That Is Given Is Not a Gift - It's a Curse
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In this episode of the Above Board podcast, John Kennedy discusses the alarming statistic that 70% of generational wealth is lost by the second generation and 90% by the third. He shares his thoughts on why wealth often vanishes and how to prevent it, emphasizing the importance of preparation, accountability, and the transfer of values. This conversation is aimed at ensuring that wealth becomes a meaningful and lasting gift for future generations.
- 00:00 Shocking Statistics on Generational Wealth
- 00:42 The Burden of Inherited Wealth
- 01:19 The Importance of Responsibility and Values
- 03:20 Strategies for Effective Wealth Transfer
- 05:13 Final Thoughts and Call to Action
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