There once was a man who, although poor was both driven and industrious, and because of this inclination he eventually rose above his circumstances to become a millionaire. This fellow was a "first generation" millionaire.

This same man had a son and because he himself was a self-made man, he wanted the same for his son. So on a day when the lad was old enough to understand it the man informed his son that there would be no inheritance forthcoming. It was understood that upon the father's demise the fortune would go to a certain charity and that the son would by no means inherit even a penny of it.

In growing up, the boy was given every opportunity that wealth could afford and used these opportunities to eventually become a competent and industrious businessman in his own right - and in his father's lifetime he began his own business and he too became a millionaire. This son, even though his father was a millionaire, ultimately he was also a "first generation" millionaire.

When this son had a child of his own, he decided he wasn't going to do to his son what was done to him by his own father - and so he made it known to his son that one day his entire fortune would come down to him.

This last son, because he reasoned that his inheritance was guaranteed, and because he currently enjoyed the sort of freedom his father's vast wealth afforded - saw no point in pursuing anything outside of his own amusement, and where both his father and grandfather were driven men of industry - he was slack and lazy. He understood how to make a fortune, but had no real interest in doing so. When his father died he simply invested his father's fortune and lived richly off the proceeds. This son was a "second generation" millionaire.

When this last son himself had a son, the boy grew up in privilege and ignorance. He didn't understand why he was wealthy, and didn't have a clue how to become wealthy if he should somehow come to be poor - he only knew that he was rich, and in no danger of poverty - so he engaged himself in whatever amusements offered him contentment. This was a "third generation" millionaire.

The fourth and fifth generations eventually depleted the family fortune, and by the sixth generation they were as poor as their forefather had been. The family remained in obscure poverty until one industrious man again rose above his circumstances and made himself a millionaire... etc. etc. etc.