I know none of us will live that long (unless futurists are right), but our bloodlines might. This is what they call "generational wealth". If you have 2 children who each have 2 children etc, and none of them die (unlikely I know, but idk how to factor that in), you will have 147 quintillion descendants. If you invested $10,000 now at 5% a year, after 2000 years, despite having so many descendants, they will still have $163 SEPTILLION dollars EACH.
Pic related, but Warren Buffett earned like 27% a year on average.
Now I have to wonder...are there any bloodlines that have been collecting wealth of this caliber? How could we know if someone had a septillion dollars in some secret bank account? What signs would we see? The English crown owns 6 billion acres, for example (UK, Canada, Australia, and some islands), but I'm not sure how much all that is worth. But who knows if they have secret wealth, too? Thoughts?
Never heard of rothshilds? Grafen of germany? Every kingdom basically?
Lucas White
>$163 SEPTILLION dollars EACH.
Literally nothing. That would barely keep pace with inflation.
Jaxon Butler
>have sex Making 100MM from crypto seems more realistic
Bentley Thomas
Why we should I caree about that oldfart money
Charles Price
Jesus christ imagine how much better society would be if warren buffett wasn't a selfish asshole and distributed his money properly
Isaiah Reed
learn English
Carson Gutierrez
>People still believe Warren didn't use insider trading I hate humanity
Christian Reyes
If inflation was 2.5% then it would be 80 septillion dollars each.
Kevin Richardson
By the time he was 14 he read every book on finance in his local library.
Jack Campbell
literally not impressed by burger buffett, at least not over the last 25 years he didn't see multiple massive bubbles had his companies bailed out by the government has the nerve to go on tv and say investing is about finding good companies and just hodling makes false claims for political reasons about his secretary paying more in taxes than he does
>Yes, I DO fall for PR teams' efforts, how did you know
Wyatt Jenkins
What the fuck guys, why are you going on about how much you hate Warren Buffett? I asked about something completely different.
Leo Davis
Buffet has been deboonked as a good investor.
His massive gains came at the time when his dad, a US senator, was alive. US senators and their immediate families were exempt from insider trading laws at that time. After his father died, he was NEVER able to match his previous record and he had a long period of underperformance.
Buffet got rich through insider trading knowledge and very hostile business practices.
NPCs that use him as an example of compound interest are delusional. He didn't just buy coke stock, he did a hostile takeover of the company and sat his boomer as on the board of directors to influence the company.
You don't even know the names of the richest people on this planet. Putin is never on any richest people list, but his watch collection is rumored to be worth almost a hundred million by itself. He's certainly richer than zuckercuck and Buffet.
The richest elite don't care about your made up monopoly money. They only use that as a tokens in the board game they play against each other and use the niggercattle as pawns. They want to own all of your farmland, your water sources, and all of your privacy. They don't give a shit about useless fiat compounding over 1000 years.
Henry Campbell
based
Brandon Murphy
> are there any bloodlines that have been collecting wealth of this caliber? The short answer is "no". Let's start with dilution. Let's say you have a billion dollars and four children, so you split it up equally among all of them. Every one of them would need to turn that 250m into 1 billion again just to keep the status quo. Then repeat for the next generation with 16 grandchildren, who also need to all 4x their 250m just to keep the status quo. Quickly it becomes impossible. You could potentially pass that wealth down to just one child, but then you are putting all of your eggs in one basket and will likely strain that child's relationship with their siblings. Now you might say "but 4x over an entire lifetime is easy through a total market fund", to which I'd say 1) most of human history hasn't had the equivalent of a total market fund, 2) a "real" total market fund depends entirely on global peace and open markets which have historically been rare so you're more likely to be restricted to specific markets, and 3) at the time scales we are talking about, the world changes so much and so rapidly that it can be difficult to predict even the safe bets. At the time your grandparents were born, the world had completely different global powers, ways of living, industries, and values. Japan has been stagnating for 30 years despite being one of the most powerful economies on Earth when your parents were young. China went from a backwater to the world's factory. You, as an individual living in 2022, will not be able to predict the problems that your grandchildren in 2075 will have to face. All you can do is raise them will the values, education, and skills they'll need to navigate it on their own. cont.
This is the problem with modern “money”, this idea of accruing government paper credit. There are not enough resources in the world to even match that at the rate retards think it should in their minds.
Connor Morales
Kids in here really shitting on Buffet >the state of this board >enjoy bear market until 2024 faggots
Asher Robinson
Now, if you really, really want to find a way to pass your wealth down through the generations, here are some guiding principles based on families that have done so successfully: 1. Codify your family values. This sounds silly, but I'm completely serious. Put down on paper the things that your family will choose to be their north star. This will allow them to have a compass when times get hard and they need to prioritize what is really important. 2. Invest in capital that isn't just financial capital. This includes social capital (the relationships your family has with others), educational capital (the knowledge and skill set of each member), and spiritual capital (what does the family do that gives their life meaning and purpose). All of these will play off each other and enable the success of the family when one aspect is lacking. For example, if you have strong relationships with other families, they could become business partners or in-laws and provide opportunities that would have otherwise been unavailable. 3. Go through a real rigorous training on trusts and inheritance laws. Every state is a little different, and there are a million small ways that you can get around things like probate or losing wealth between generations. Some states won't allow a trust for more than 100 years, some will allow it for 500+. If you expand that to other countries, it becomes even more nuanced. Make sure you have an estate plan that is carefully planned out. Make sure that your trusts are managed by a board of family members who can oversee that wealth and collectively make decisions to protect and grow it. cont, one more
If that chart is correct, that means he had $80k in 2022 dollars by the time he was 14. Nobody has that kind of money at that age unless they were born into wealth. The average price of a house was half of his net worth in 1944. Imagine being able to afford to buy 2 houses at 14.
Carter Campbell
Screenshotted for future generational domination. Thank u user
Brody Reyes
>1 cent at 5% a year makes you 30 sun-sized spheres of solid gold after 2000 years. the price of gold also goes up at 5% per year lmao
Carter Thomas
4 (and the last one I'll mention): Centralize processes, and decentralize risk. In the same vein as the earlier topics of "the future is hard to predict", you want your investments to focus on protecting that wealth more than growing it. It takes a lifetime to build up that wealth and you can lose it in a matter of days if you delegate it to a foolish relative. That means investing in real estate, bonds, stocks, gold, silver, directly owning and operating multiple businesses in multiple fields, angel investing, etc. You need to cast as wide a net as possible to minimize risk so that if one part of the family fails, you can recover. Centralizing processes is the other side of that coin. Every member of the family should have skin in the game and stick to a shared plan. While they don't have to be responsible for managing that wealth (which is more of a "calling" than something you can arbitrarily assign), they do have to keep part of their wealth with the family if they want to benefit from its shared successes. If someone starts a business, then this centralized model of knowledge will allow other business-minded members of the family to give advice, recommend trusted partners, and again increase the chances of those endeavors succeeding. It keeps the family focused and united, it minimizes the costs of custom processes or duplication, it creates a template for the next generation to follow. I'll leave it at that for now. If you're interested in reading further there's a good book called Complete Family Wealth by Hughes/Massenzio/Whitaker that walks through many of these topics. t. trust fundie.
