Shirtsleeves to shirtsleeves in three generations

A proverb about family wealth proclaims that it won’t last over the generations. The U.S. version is “shirtsleeves to shirtsleeves in three generations”. Other countries use other language, but the idea is universal and of long-standing: a family can build wealth but will not be able preserve it over generations. This possibility – some claim it’s a near guarantee – causes stress and conflict over measures to try to prevent it, as well as stress and conflict if it does occur. Additionally, thought leaders in the field are now expressing their own conflicting view of the way the concept has been often used. I agree with them that building on the positives that a family has and can create is preferable to using this well-known adage to try to frighten families into action.

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