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Inheritors and the Quest for Legitimacy

The wealth that inheritors receive from parents or grandparents is often accompanied by feelings of self-doubt and guilt. Many inheritors have a great desire – a need, even – to justify their wealth and prove to those around them that they deserve all that unearned money.

This drive for legitimacy can empower inheritors to achieve great things – but it can also come with a dark side that creates wealth-destroying problems.

  • Some inheritors feel guilty about their wealth and feel intense pressure to justify their good fortune.
  • Building and running highly successful companies can help inheritors feel a sense of worthiness.
  • Engaging in meaningful philanthropy is another way for some inheritors to gain legitimacy.

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Inheritors and the Quest for Legitimacy

Other notes and risk warnings

This article contains the opinions of the authors but not necessarily Donald Wealth Management (the Firm) and does not represent a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but is not guaranteed. It is not a promotion of Donald Wealth Management’s services. Donald Wealth Management strongly suggests that no investor should act on any of these ideas without first seeking financial advice.

Past performance is not indicative of future results and no representation is made that the stated results will be replicated. The value of an investment is not guaranteed and on encashment you may not get back the full amount invested. Errors and omissions excepted.

Donald Wealth Management is a trading style of Donald Asset Management Limited which is authorised and regulated by the Financial Conduct Authority in the United Kingdom (FRN: 223784). Donald Asset Management Limited is registered in England and Wales under Company No. 4675082. The registered office address of the Firm is: Stable End, 12 Heather Court Gardens, Four Oaks, West Midlands, B74 2ST.