Chapter
The Hidden Benefits of Inherited Wealth
23:54 - 27:32 (03:37)
Inherited wealth can open doors and opportunities that could be otherwise closed, regardless of the amount of money inherited. It's not just about the money but also about the access it gives you.
Clips
The true definition of wealth isn't just the amount of money you earn or the interest you accumulate on it, it's the amount of money you have but choose not to spend.
23:54 - 25:08 (01:13)
Summary
The true definition of wealth isn't just the amount of money you earn or the interest you accumulate on it, it's the amount of money you have but choose not to spend. It's not liquid wealth, but it's still wealth in the truest sense.
ChapterThe Hidden Benefits of Inherited Wealth
Episode#142 - Morgan Housel - How To Create & Manage Your Personal Wealth
PodcastModern Wisdom
Economist Bashkar Mazander has shown that income among brothers is more hereditary than physical characteristics like height or weight, highlighting the privilege brought upon by coming from a wealthy family.
25:08 - 26:46 (01:37)
Summary
Economist Bashkar Mazander has shown that income among brothers is more hereditary than physical characteristics like height or weight, highlighting the privilege brought upon by coming from a wealthy family.
ChapterThe Hidden Benefits of Inherited Wealth
Episode#142 - Morgan Housel - How To Create & Manage Your Personal Wealth
PodcastModern Wisdom
Bill Gates' success is attributed to various factors, including his intelligence, but there's also an element of luck involved that led him to find the computer at Lakeside School in Seattle and meet Paul Allen, which eventually resulted in the creation of Microsoft.
26:46 - 27:32 (00:46)
Summary
Bill Gates' success is attributed to various factors, including his intelligence, but there's also an element of luck involved that led him to find the computer at Lakeside School in Seattle and meet Paul Allen, which eventually resulted in the creation of Microsoft.