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Reddit mentions of Fortune's Children: The Fall of the House of Vanderbilt
Sentiment score: 1
Reddit mentions: 1
We found 1 Reddit mentions of Fortune's Children: The Fall of the House of Vanderbilt. Here are the top ones.
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Features:
Specs:
| Height | 9.25 Inches |
| Length | 6.12 Inches |
| Number of items | 1 |
| Release date | December 2012 |
| Weight | 1.15 Pounds |
| Width | 0.87 Inches |
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u/GopherAtl ยท 12 pointsr/todayilearned
- it's really not. It's because truly rich people tend to leave their money in trust funds which are not entirely in their heirs' control, and which doles out what amounts to a generous allowance out of earned interest without allowing them direct and convenient access to the principle. Check out the history of the Vanderbilt family. A handful in the first couple of generations of heirs had some business savvy, but they were outnumbered by those who had absolutely no concept of wealth management. Trust funds are only partly about tax avoidance, they're also about protecting your estate from your beneficiaries, or depending on your perspective, your beneficiaries from their own poor money management skills.
- edit: I recommend this book to anyone curious; it was a pretty fascinating read I thought.