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There's a book called "The Millionaire Next Door" that gives all the citations you could ask for on this topic. It basically corroborates what you're saying -- wealth usually doesn't last past the 2nd generation.

Link: http://www.amazon.com/Millionaire-Next-Door-Thomas-Stanley/d...

Yep. And this book is an excellent read and resource to have. It is saturated with great observations and solid data. Highly recommend it.

Hence the dictum: Rags to rags in 3 generations.

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