S06.E18: Reunion Part 1

[qtpye]

17 hours ago, RedHawk said:

Generational wealth as I've always understood it is wealth acquired a few generations before and handed down to subsequent heirs. Not just a typical inheritance but residential and commercial real estate, dividend-paying stock shares, a successful family business, valuable artwork or jewelry, etc. Possessions that don't need to be sold to generate reliable income and/or increase in value and can be held and passed to the next generation. 

I've read that "generational wealth" even in truly wealthy families usually lasts only three or four generations at the most. So many families fail to plan for it to last, because inflation does happen, or the children and grandchildren, if given too much money with no need to work, often squander what they have or come to an early, bad end. Anderson Cooper's new book about the Vanderbilts illustrates how this happens. Families that manage to pass the wealth far down the line do it by careful investing and planning, often limiting how much each generation can take/sell from the principle. 

The thing is that I think Anderson Cooper stated that his family money was gone and most of his mother's money was from her businesses. Of course, Anderson Cooper is successful in his own right.

I think when his mother (Gloria Vanderbilt) died it was revealed that her $50 million came mostly from inheritance and all her businesses actually lost money. This money will be passed down to Anderson, which will also give an incredible leg up to his children. I am not totally sure if this is how it went down.

We have been talking about generational wealth in the Candiace thread. 

It is interesting to me that America is the only country where the rich pretend not to have the privilege (because hard work is so valued in the culture) whereas in other countries people flaunt that stuff.

Even the housewives that have married well (Mia, Camille Grammar, etc.) like to put up a front that they are earning money in their own right.

[Rlb8031]

18 hours ago, RedHawk said:

Generational wealth as I've always understood it is wealth acquired a few generations before and handed down to subsequent heirs. Not just a typical inheritance but residential and commercial real estate, dividend-paying stock shares, a successful family business, valuable artwork or jewelry, etc. Possessions that don't need to be sold to generate reliable income and/or increase in value and can be held and passed to the next generation. 

I've read that "generational wealth" even in truly wealthy families usually lasts only three or four generations at the most. So many families fail to plan for it to last, because inflation does happen, or the children and grandchildren, if given too much money with no need to work, often squander what they have or come to an early, bad end. Anderson Cooper's new book about the Vanderbilts illustrates how this happens. Families that manage to pass the wealth far down the line do it by careful investing and planning, often limiting how much each generation can take/sell from the principle. 

I think it tends to get thought of in this respect because when we think wealth, we think robber barons (Carnegies, Morgans, Rockefellers, etc.). But in reality generational wealth is also $250k life insurance payouts in the 1990's that allowed grandkids to put a down payment on a home when they would otherwise have been unable to do so. Its the families of WWII GIs who were permitted to purchase homes in Levittown for $7000 with no money down, passing those homes to their kids at a value of $70k in the 70's and their grandkids with a value of $300k in the 90's. That's actually the insidious wealth because it allows people to benefit from it to ignore their leg up since they aren't Rockefeller rich. It is absolutely the kind of wealth that some of the HWs (Katie, Candiace, Robyn and Gizelle) benefitted from albeit on a much smaller scale. Ashley was not a beneficiary of generational wealth, but her kids will be, even if Michael doesn't leave those kids a penny. 

[JoSafe]

On 11/12/2021 at 1:00 PM, RealReality said:

This is the game gizelle chooses to play with everyone else. 

She is the queen of the gang up and pile on and maybe its good for her to get a sip of her own medicine every reunion. 

I dont think she has a leg to stand on (well, maybe the one that isn't in a boot).  

 

The thing is, they are the ones that mad and not her.

1- Gizelle does not carry the same fucking questions and comments for years.

2- They are mad she doesn't give them what they want. Gizelle is not breaking down, so they are around her pushing her to get there, like vultures, waiting for herto fall.

How many seasons are we going to talk about Jamal, herbeing single or about her style? That didn't make her cry before, it won't. Move on.