Why Do Some People Blow The Family Fortune? 5 Tips To Build Wealth For Generations
Benzinga Contributor Wed, August 4, 2021
As more baby boomers (those born from 1946 to 1964) move deeper into retirement, a massive transfer of wealth to younger generations is approaching. One report mentions that over the next 25 years, U.S. households will pass nearly $70 trillion to their children.
But there is no guarantee that a family’s wealth will last for generations. Building and maintaining wealth, so it benefits many generations, requires proper financial education, perspective among family members, and communication, says Chance Robinson, a financial advisor and author of Financial Myths: Important Information You May Not Know About Your Retirement And Financial Future.
“There is much to learn from the reckless wealthy,” Robinson says. “There have been numerous instances where inheritors have squandered wealth. Unfortunately, they could not build upon what was available to them.
“Preserving intergenerational wealth is an uphill task. But understanding the differences between a wealth-generation mindset and a wealth-destroying one can teach lessons that are vital to continuing and increasing intergenerational wealth in your own family.”
Robinson has these tips for families to consider about building and maintaining intergenerational wealth:
View Wealth As More Than Money And Property
To Robinson, the first things that come to mind when discussing wealth are bank balances and properties. Still, he adds that a family’s collective wealth goes deeper to include family memories, relationships, and ethos – its aspirations for the greater good. “These intangible but important emotional factors play an important role in keeping the family and its generations on the same page and keeping the financial assets intact,” he says.
Take An Unselfish, Long-Term View
“There is no place for a self-centered attitude,” Robinson notes. “The person intending to generate wealth and leave a legacy behind would likely possess an open and generous mind. He or she would not necessarily look for ways to consume everything in his or her lifetime.
To continue reading, please go to the original article here:
https://www.yahoo.com/finance/news/why-people-blow-family-fortune-185703474.html
Stern Drew: Warren Buffet Warns that the US Dollar is on the Brink of Collapse
11-3-2026
WARREN BUFFET WARNS THAT THE US DOLLAR IS ON THE BRINK OF TOTAL COLLAPSE
He’s sitting on a record $380 BILLION IN CASH, not investing a single dollar because he says the stock market has turned into a CHURCH WITH A CASINO ATTACHED and he no longer understands what’s happening.
“I understand fewer of the businesses as a percentage of the whole than I did 10 years ago.”
Oil Rebounds After Reported US Strike On Qeshm
2026-11-03 Shafaq News Oil prices edged up on Tuesday after a report that the United States had struck Iran's Qeshm Island, raising concerns about an escalation of the eight-month conflict and prolonged disruptions to Middle East oil supplies.
US West Texas Intermediate crude was up 20 cents, or 0.21%, at $96.66 a barrel while Brent crude futures rose 3 cents, or 0.03%, to $104.8 a barrel by 0355 GMT.
Good Afternoon Dinar Recaps,
GLOBAL TECHNOLOGY RESET WATCH: CHINA WARNS AI INVESTMENT BOOM IS BECOMING TOO CONCENTRATED
China’s financial regulator warns that the rapid flow of capital into artificial intelligence could increase financial risks while making it harder for traditional industries to obtain the funding they need to grow.
TNT:
Tishwash: International Trade Centre: Iraq is qualified to become a regional hub for trade and investment.
The Executive Director of the International Trade Centre, Pamela Cooke Hamilton, confirmed that the Iraqi government is committed to accelerating the procedures for joining the World Trade Organization, expressing her hope that the membership requirements will be completed by 2028. While revealing a proposal to prepare a national strategy for trade and investment, she stressed that Iraq is qualified to become a regional center for trade and investment.
Hamilton said during her appearance on the “Economic Dinar” program on Al-Iraqiya News Channel, which was followed by the Iraqi News Agency:
Ariel: Redenomination, Revaluation, New Rate, Forex Market all Can Happen at the Same Time
11-3-2026
Iraq Field Report: The Play By Play (The Calm Under Palm Trees)
Drawing Attention To The Course of Action Taken By The Prime Minister
Let me pull the veil back on what’s actually happening in Baghdad right now, because the mainstream financial press is about as useful as a chocolate teapot when it comes to reading the tea leaves of Iraqi monetary policy.
Reset Intelligence: Iran Moves After a Nuclear Warning.
By Reset Intelligence | @EXIT_FIAT
On Sunday evening, Eastern time, Tucker Carlson told his followers the Trump administration "may be within days of launching a nuclear strike on Iran." The post has been viewed over 80 million times. None of it is confirmed, and the White House would not comment on military plans.
Within a day Iran's president said the supreme leader had given the government powers to pursue a diplomatic way out. On Monday Trump wrote: "Iran wants a settlement, as soon as possible. It could happen!" Oil fell 7.6%, its biggest drop since July.
International Trade Centre: Iraq Is Qualified To Become A Regional Hub For Trade And Investment
The Executive Director of the International Trade Centre, Pamela Cooke Hamilton, affirmed the Iraqi government’s commitment to accelerating the procedures for joining the World Trade Organization, expressing her hope that the membership requirements would be completed by 2028. She also revealed a proposal to prepare a national strategy for trade and investment, noting that Iraq possesses the potential to become a regional center for trade and investment.
Good Morning Dinar Recaps,
GLOBAL ENERGY RESET WATCH: IRAN OFFERS TO REOPEN STRAIT OF HORMUZ AS NUCLEAR TALKS COULD RESUME
Iran says it could reopen the Strait of Hormuz and restart nuclear negotiations with the United States within two days if Washington accepts its conditions, but no agreement has been reached.
How Wars And Geopolitical Conflicts Can Affect Stock Market Performance: What History Shows And How Investors Can Prepare For Volatility
Investment strategy Sergei Klebnikov Editorial Staff, J.P. Morgan Wealth Management
* Geopolitical conflicts can drive short-term market volatility, but history shows the initial sell-off is often more about uncertainty than a lasting change in long-term returns.
*The biggest risk to watch is whether the conflict disrupts critical supply chains in ways that spill into inflation, financial conditions, corporate earnings and broader economic growth – energy is one common channel, but not the only one.
Dinar Update: Interesting Week Ahead...
The Dinar Den: 11-2-2026
The landscape of international currency investment is often filled with a mixture of anticipation and uncertainty, particularly when it comes to the Iraqi Dinar.
Recently, Stephen, a seasoned entrepreneur and host of the popular channel The Dinar Den, shared a comprehensive update regarding the current state of this investment. His perspective offers a grounded approach for those who have been monitoring the region’s financial evolution for years.
KTFA
Monday Night Video
FRANK26…11-2-26….1:1 CLOSER
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#
Deputy Prime Minister: Dollar Exchange Rate In The Parallel Market Will Fall And Approach The Official Rate
Baghdad - INA - 11/01/2026 Deputy Prime Minister for Economic Affairs, Mohammed Tamim, confirmed on Sunday that the dollar exchange rate in the parallel market will decrease and move closer to the official rate. He also announced that a new shipment of $500 million is set to arrive tomorrow from the United States.
Tomorrow’s Election Changes Nothing About The National Debt
Notes From the Field By james Hickman (Simon Black/Sovereign Man) November 2, 2026
Johnny Moon was homeless and unemployed in the early 2000s. A high school dropout with a bad drug habit, Moon was hardly someone that banks would consider creditworthy.
And yet, over the course of a single year, he was able to borrow more than $600,000 to buy five different investment properties.
Rob Cunningham: Follow the Money
11-2-2026
No one hands over the world’s printing press voluntarily.
Start with one fact. The United States produces about 26% of world GDP, and the dollar is on one side of roughly 89.2% of foreign-exchange trades (BIS Triennial Survey). Whoever controls how dollars are issued, priced and settled controls the measure the largest economy on earth trades in, and through it the world’s trade.
$10,000 Gold, 10% Inflation: “Something Is Going to Break” | Vince Lanci
Miles Franklin Media: 1-11-2026
Michelle Makori, President & Editor-in-Chief of Miles Franklin Media, interviews Vincent Lanci, Publisher of GoldFix, Managing Partner at Echo Bay Partners, and Professor of Finance, about the sharp sell-off in gold and silver, growing risks in the U.S. financial system, and why he forecasts gold reaching $10,000 alongside 10% inflation within the next two to five years.
Lanci warns that cracks in credit markets, potential Treasury market instability, and the bursting of the AI bubble could force the Federal Reserve to reverse course even as inflation accelerates.
Good Afternoon Dinar Recaps,
GLOBAL FINANCIAL STABILITY RESET WATCH: ECB WARNS OF AI VALUATION, BOND MARKET AND SHADOW BANK RISKS
The European Central Bank is highlighting vulnerabilities that could spread across markets as elevated technology valuations, bond-market pressures, and risks among nonbank financial institutions converge.
TNT:
Tishwash: Fahmi Burhan: The Kurdish regions are our strategic depth, and Article 140 is the basis for the solution.
The head of the General Authority for Kurdish Areas Outside the Region’s Administration, Fahmi Burhan, affirmed today, Sunday, November 1, 2026, that the Kurdish areas represent the strategic depth and national identity of the people of Kurdistan, stressing the need to address their issues based on the constitution, while warning at the same time of the negative repercussions of internal disputes in the region on the conditions of those areas.
During an interview on Kurdistan 24, Burhan said, "The Kurdish regions, especially Kirkuk, Khanaqin, Sinjar, Makhmur, and the Nineveh Plain, constitute the central issue and the strategic and historical depth of the Kurdish people," noting that the Kurds' struggle, revolutions, and diplomatic efforts over the past hundred years have focused on determining the fate of these regions.
Note: All intel should be considered as "Rumors" until we receive official announcements ...and “Rates and Dates” could change anytime until we get to the banks/redemption centers.
RV Excerpts From the Restored Republic via a GCR Update as of Tues. 2 Nov. 2026
Compiled Tues. 2 Nov. 2026 12:01 am EST by Judy Byington
FINAL HOURS: THE BRICS SETTLEMENT RAILS ARE LIVE …Christien B. Wallace Tier4b on Telegram Sun. 1 Nov. 2026
A sovereign trade coordination office sent an internal settlement confirmation through the encrypted channel. It said: “BRICS rails live. 41 nations. First settlement cleared in Rainbow Units. 19:00 UTC.”
Reset Intelligence: Iraq Vows to Close the Dollar Gap
11-2-2026 By Reset Intelligence | @EXIT_FIAT
On Sunday Iraq’s deputy prime minister, Mohammed Ali Tamim, went on state media with a promise about the dollar. The price on Baghdad’s street, he said, “will decline and come very close to the official exchange rate.” Then he added: “I take responsibility for these words.”
His reason is cash. Washington, he said, has decided to send $3 billion over 2 months, in 6 loads of about $500 million each. By his account the first arrived on Thursday and the second is due Monday.
KTFA
Tuesday Night Video
FRANK26…11-3-26….THE 7th
This video is in Frank’s and his team’s opinion only
Frank’s team is Walkingstick, Eddie and Omar in Iraq and guests
Playback Number: 605-313-5163 PIN: 156996#