Money, money, money: 4 in 10 of Dutch rich inherited wealth

Four out of every 10 people considered rich in the Netherlands have inherited their wealth, according to a survey commissioned by ABN Amro MeesPierson, the Telegraaf reported on Friday.

The rich are defined as those with with a minimum of €500,000 of disposable assets. A full 39% of repondents said they had inherited all or part of their wealth. Another 31% derived their money from their own businesses.

This number advanced to 37% for those with more than €1m of discretionary assets. And 26% said they had built up their assets through investments or property.

Those born into a rich family apparently have a better chance of remaining wealthy. Eight out of every 10 of the rich in the Netherlands plan to leave part of their money after their death to their children.

With millionaires it’s only six out of every 10, but many of these have already gifted their offspring money to buy a house. Finally, 56% think their children are more spoiled than other Dutch children.

Contrary to the belief that money does not make you happy, the Dutch rich seem quite content. Only 2% of those with inherited wealth found it to be a burden. Two-thirds said it had made them happier, and give their lives an ‘8’ out of 10. Those less fortunate rate their lives at only a ‘6’, according to the research.