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Historically, American millionaires had a much higher rate of prior bankruptcies than the general population. A good way to squelch entrepreneurship is to make failure so onerous that it’s not worth the risk.
Historically, American millionaires had a much higher rate of prior bankruptcies than the general population. A good way to squelch entrepreneurship is to make failure so onerous that it’s not worth the risk.
I assume that is self made millionaires. They are likely entrepreneurial with a higher risk of failure in doing so, but greater rewards when succeed.
Inherited millionaires are likely risk adverse.