[cushpush]

Another aspect: savings and investment habits. If you are born rich and have savings and investment habits that are good, you will remain rich. Savings and Investment habits are a large determinant. The article suggests that the prior generations' "worry about entitled behavior" is the second dominant cause, while financial illiteracy trailing behind at third (in order of presentation). But I find that quite misleading. Are the wealthy really wanting to put their offspring at a disadvantage because it is perceived as laziness? That's "patently false" as my friend says.

[creer]

It takes time and serious work to learn about investing beyond clichés. Past even the basic professional level which is entirely "mechanical" - grounded in practices, not in understanding. Meanwhile if one heir is headed to med school and the other is going from vacation to harebrained scheme, what are you - the patriarch - going to do? Neither has time or inclination to learn seriously.