On May 18, 2010, at 3:34 PM, Jordan Hayes wrote:
> If it was "mostly" inheritance, you'd have to believe that the
> difference between the two groups from start to finish is that the
> White group had someone with some wealth die during the 20 year
> period.
Not just 20 years - it's a matter of generations. The best estimates I saw when researching Wall Street was that at least 50% of all personal wealth comes from inheritance or the appreciation of inherited property, and it could be closer to 75%.
Doug