If 100 homeless people were given $750 per month for a year, no questions asked, what would they spend it on?
That question was at the core of a controlled study conducted by a San Francisco-based nonprofit and the USC Suzanne Dworak-Peck School of Social Work.
The results were so promising that the researchers decided to publish results after only six months. The answer: food, 36.6%; housing, 19.5%; transportation, 12.7%; clothing, 11.5%; and healthcare, 6.2%, leaving only 13.6% uncategorized.
Those who got the stipend were less likely to be unsheltered after six months and able to meet more of their basic needs than a control group that got no money, and half as likely as the control group to have an episode of being unsheltered.
Whoa there rich people were born the same way we were. They followed a simple 7 step plan.
See rich people work hard to get rich.
The overwhelming majority of people who inherit wealth lose said wealth within 3 generations.
70% by the second generation and 90% by the third
https://www.nasdaq.com/articles/generational-wealth%3A-why-do-70-of-families-lose-their-wealth-in-the-2nd-generation-2018-10#:~:text=The only thing they know,lose it by the third.
Almost like money doesn’t equal ability.
That article didn’t seem to cite any studies or data and reads like an ad for something.
Wikipedia has a few good paragraphs with citations: https://en.wikipedia.org/wiki/Economic_mobility#Intergenerational_mobility Most relevant: