I read this same article and it brings up some interesting stats but really seemed to lack insights into spending behaviors and financial education of future generations. My father made a determined effort to educate my brother and I on basic financial concepts, such as interest, debt, stocks & bonds, dividends, savings accounts, etc. He gave us each a ton of books and by far the best one was The Millionaire Next Door.

My father handles a lot of family trusts and estate planning. Many blue collar families, such as electricians and plumbers. These families made MILLIONS over their lives and were passing a ton on to their kids. The biggest issue was how the kids would use/treat the money when they inherited it. Most admitted they didn't do much to educate their kids of the value/use of money and my father advised the families to set up trusts so the money would be dispersed over time, helping to prevent them from blowing it all quickly.

I think a lot of the issues stem from cultural taboos around openly talking about money and investing. People that grow up thinking that discussing finances is rude are typically less financially savvy. This could be a major issue in how wealth and status transfers down through families and it shows by how the kids view money.