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Williams Group, a wealth consulting firm, claims that by the third generation, 90 percent of wealthy families had lost all of their fortune, up from 70 percent in the second. However, people who were reared in wealthy families have a substantial edge over those who were raised in poor ones. Improved Education People who were raised in wealthy homes typically reside in more affluent areas. Generally speaking, the educational resources and school systems in these areas are better, including better teachers. The wealthy undoubtedly possess more resources. They are able to pay for tutors for their kids. They are able to pay for the extra expenses related to the clubs or organizations that their kids can join. They have the financial means to pay for their kids’ SAT prep classes. They have the financial means to pay for their kids’ college educations. Many youngsters reared in low-income households are eventually required to pull the cart because they need to find employment to support the family. This reduces the amount of time they have for other activities. Those who came from more affluent backgrounds do not require this. As a result, wealthy children have more time for studying, participating in school activities, and establishing lifelong friendships with other wealthy children.

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