Where does wealth come from?
By definition, wealth is “an abundance of resources.” In other words, you have more than you need.
It may seem counterintuitive, but research shows the primary determinant for wealth is not how much we make (income) but how much we are given (intergenerational transfer).
This can come in three forms.
- Inheritance that is passed down upon the death of a parent or grandparent or other older relative.