Old Money Vs New Money [Explained]
In the most simple of terms, old money is money that has been around for a long time and new money is money that was created within the last few years. However, we’re not talking about the printing process.
In this blog post, I’m going to talk about both types of money and compare them.
Understanding New Money And Old Money
The dichotomy between New Money and Old Money is a fundamental element of social understanding. It is a field of social science study of human relationships.
What Is Old Money?
Generally, “Old Money” is a reference to a social class commonly known as the “upper class” or “privileged class.” It is usually associated with inherited wealth or generational wealth.
Does Old Money Still Exist?
The first American multi-millionaires left descendants who inherited great wealth even after their ancestors gave away much of their wealth to philanthropic organizations. That wealth has been distributed, in some cases diluted or dissipated among multiple generations.
How Many Generations Are Considered Old Money?
“Old Money” is inherited wealth. But inherited money is not necessarily “old money.”
What Is New Money?
Simply put, new money is wealth that is not “old money”. It is typically self-obtained wealth.
When Does New Money Become Old Money?
Perhaps never. If it is not sustained and built on but rather dissipates or is squandered before it can survive multiple generations, new money will never see the day it is considered old money.
Swipe up now to read the full post!