Shirtsleeves to Shirtsleeves

The progression of wealth begins with a Builder, transferring down to a Janitor, and finally disappearing from the clutches of a Debtor. There is a better way to leave an inheritance for our Children.

One of the greatest burdens on children is the inheritance of wealth. Yes, I know this sounds counterintuitive. Yet, with 35+ years of experience working with three generations of families, I can attest to the validity of the premise.

Each culture has its phraseology:

  • Old English: “there’s nobbut three generations atween a clog and clog.”
  • Italy: “from the stable to the stars and back again.”
  • Japan: “rice paddies to rice paddies in three generations.”
  • China: “from peasant shoes to peasant shoes in three generations.”
  • Scotland: “father buys, son builds, grandchild sells, and his son begs.”
  • America: “shirtsleeves to shirtsleeves in three generations.”

Why is this true? Answer: “We want what we don’t have.

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