When Cornelius Vanderbilt (the Commodore) passed away in 1877, he left the majority of his fortune valued at $95,000,000 to his oldest son. In today’s dollars, this fortune would be worth around $2.1 billion. He left smaller amounts to all of his other children. This particular son, who received the majority of his fortune, actually…
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This morning I woke up and sat down to continue reading “Family Fortunes – How to Build Family Wealth and Hold Onto It for 100 Years” by Bill and Will Bonner. This really is a fantastic book highlighting the differences between old money and new money. It really is an eye opener and definitely worth…
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Do you think long-term, or short term? Before you answer this question, take a second and define what “short-term” and “long-term” means to you. How many years into the future is short-term? How many years into the future is long-term? Most people would define short-term as the next 3 to 5 years and long-term as…
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