New Delhi, Dec. 15 -- For financial planning, building wealth is just the first step. Sustaining it is what matters in order to pass it down through the generations. However, a global study reveals that 70% of family wealth dissipates by the second generation, while over 90% vanishes by the third.

This wealth erosion comes not primarily from market volatility or poor investment performance, but from a fundamental discontinuity in financial acumen. Inheritors receive assets without acquiring the disciplined mindset that built those assets. They inherit the wealth but not the wisdom behind it. This pattern manifests across economic strata. Among India's high-net-worth (HNI) households, a substantial 43% save less than one-fifth of their in...