Money doesn't last forever. Even the rich have to monitor spending to keep it. Although Millennials are expected to be the beneficiaries of the largest wealth transfer in history, family wealth and assets fail to outlive the generation that created it 90% of the time.That's typically due to a breakdown in communication within the family because heirs are unprepared or as a result of tax or legal issues. In fact, a Merrill Lynch study found that 69% of high net worth Americans want their money to last through their children's lifetimes, 43% through their grandchildren's lives and 17% want it to last forever.
More from Video
Amid the Selling, Here's the Big Question Now
How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
One Tweet Pulls the Rug Out From Under the Indexes
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
A Technical Look at the New Dow Jones Industrial Average
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
Conagra Brands Looks Tastier After Its Upgrade to Buy
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Biogen Bulls Get a Lift From Quant Upgrade and Strengthening Charts
Breaking down an approach to the long side of this biotech stock.