Rich Girl Roundup: What an Heiress Giving Away $27M Says About Generational Wealth & Inequality

The Money with Katie Show

Money with Katie

Investing, How To, Self-improvement, Business, Education

4.8 • 1.3K Ratings

🗓️ 5 February 2024

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

An Austrian heiress made headlines when she announced she would let 50 strangers decide what to do with $27M USD of her inheritance. Katie and Henah discuss the potential impact of this kind of social experiment, how the lack of inheritance and estate taxes disproportionately support inequality, and why "generational stability" might be worth striving for more than "generational wealth." Welcome back to #RichGirlRoundup, Money with Katie's weekly segment where Katie and MWK's Executive Producer Henah answer your burning money questions. Each month, we'll put out a call for questions on her Instagram (@moneywithkatie). New episodes every week. Transcript, show resources, production credits and more can be found at: https://moneywithkatie.com/austrian-heiress-experiment Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Rich Girl Random!
0:03.0	Random!
0:04.0	27 million U.S. dollars.
0:06.0	If you had to decide where it goes, what would you pick?
0:09.0	Given the amount, pizza party. Pizza parties, plural. Domino's everywhere. I'm gonna go ahead and say
0:21.2	no. Love it!
0:27.0	Welcome back,
0:28.0	and boys to Rich Girl Roundup, the weekly casual discussion segment
0:32.0	of The Money with Kitty Show, where we're super
0:34.3	hip fun and cool instead of so buttoned up. I'm your host Katie Gaddy toss in and
0:40.6	here's a quick message from our sponsors.
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0:52.0	Well, Discover wants to change that by making everyone feel special.
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1:12.3	where you are in life, you'll feel special with Discover.
1:16.0	Learn more at Discover.com slash credit card. Limitations apply. Okay, before we get into it, this week's upcoming main episode is about why poverty persists in one of the richest places in the world,
1:36.0	aka gestures at home of the free land of the brave or whatever it is.
1:42.0	What's the phrase? Land of the free home of the
1:46.4	brave. The land of the free home of the brave. Yes, that place. The episode
1:50.9	pulls on quite a bit of research and work from four books that I've read recently and so we're going to cover everything from more affordable housing to tax law to social infrastructure as well as how we tend to perceive the situation of being in chronic scarcity
2:05.1	despite our own relative closeness to it. Like after all we are all closer to
	...

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