Does inheriting a profitable business + commercial real estate basically put you ahead financially for life?
I’m turning 33 soon, work in finance, and trying to realistically gauge how financially “set” someone in my position actually is.
My dad owns a pretty profitable eCommerce business that does about $20M in annual sales (with decent net margins) that I’ll likely inherit/take over eventually (once he retires) along with some commercial real estate that generates rental income. He’s also planning to buy me a condo around the $400k range, so housing costs probably won’t be a major issue for me either.
I realize this sounds extremely privileged and borderline failson territory, but I’m asking from a investing/personal finance perspective.
A lot of people around me are hyper-focused on maximizing income, grinding promotions, aggressively investing every dollar, etc. Meanwhile I’m wondering whether ownership of cash-flowing assets/businesses basically changes the entire financial equation versus someone starting from zero.
For people experienced with investing/wealth building, would you still treat your career and investing strategy with the same level of intensity if you knew you had a high probability of inheriting a successful business and income-producing property? Or is that the kind of head start that realistically compounds into “set for life” territory assuming nothing catastrophic happens? Would appreciate some advice, thanks.