What They Don't Tell You About Old Money | No BS With Birchy | EP 245
About this episode
Nathan Birch discusses the differences between old money and new money, focusing on wealth retention and family succession planning.
In this episode, Nathan gets into the difference between old money and new money, why most people who build wealth don't keep it past one generation, and how to actually set your family up so your life's work doesn't get blown by the next generation. 00:00 - Intro: new money vs old money and why Nathan used to have "new money" on his number plate 04:00 - Why building wealth is the easy part. Retaining it is the real game 07:00 - The rice paddy proverb: why wealth disappears in three generations and how to break that cycle 12:00 - Treating your family like a business: succession, structure, and the Rockefeller trust model 17:00 - Why old money is quiet and new money is loud, and why stealth is actually a defence mechanism 22:00 - How old money thinks about education vs how new money thinks about it 32:00 - What to teach kids about debt, inflation, and how financial markets actually work 44:00 - The Vanderbilts: what happens when the richest family in the land raises heirs with no plan 47:00 - Financial anxiety vs financial abundance: the fine line you need to walk with your kids 50:00 - Final word: processes, systems, and succession planning for your portfolio Make your move on…
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