'Succession’ Characters’ Finances, Analyzed by a Money Expert | WSJ As Spent on TV

Step-by-Step Financial Analysis of 'Succession' Characters:

1. Introduction to the Characters:

   • The video provides insights into the financial situations of characters from the show "Succession," focusing on their wealth, spending habits, and potential financial decisions.

2. Understanding Inheritance and Investment:

   • Inheritance from family members is typically received tax-free.
   • The 3% rule suggests that investing a sum of money prudently can yield a 3% return annually.
   • For example, investing $5 million could provide approximately $150,000 per year.

3. Analyzing Greg's Lifestyle and Investments:

   • Greg's lifestyle choices, such as expensive watches, may not always be good investments.
   • Some watches appreciate in value, but not all.
   • Greg's $40,000 watch investment may or may not yield a good return.

4. Income Disparities and Career Progression:

   • The show highlights income gaps between characters like Shiv and Tom.
   • Tom's career advancement to the head of ATN indicates improved financial status and affording luxury items like tailored suits.

5. Divorce and Asset Division:

   • The possibility of Tom and Shiv's divorce raises questions about asset division.
   • Assets like retirement accounts, checking accounts, and property come into play during a divorce settlement.
   • A prenuptial agreement can outline asset distribution in case of divorce.

6. Estate Planning and Wealth Management:

   • Clear communication and documentation are essential for estate planning.
   • Having a will, powers of attorney, healthcare proxy, and living will are crucial components of estate planning.
   • Trusts can also be used to manage assets and minimize estate taxes.

7. Tax Considerations and Business Expenses:

   • Capital gains tax implications apply when selling assets with low basis.
   • Business expenses like travel, clothing, and transportation can be tax-deductible if related to work.
   • Deductions for business expenses depend on specific thresholds and regulations.

8. Family Wealth and Inheritance Dynamics:

   • The video portrays the complexities of passing down wealth through generations.
   • Logan's desire to pass on his empire to his children may face challenges due to family dynamics and conflicts.

9. Conclusion and Financial Insights:

   • The analysis provides a glimpse into the financial intricacies of the characters in "Succession," showcasing wealth disparities, investment decisions, and estate planning considerations.
   • Understanding the financial aspects of the characters adds depth to their portrayals and the overall narrative of the show.

By following these steps, viewers can gain a comprehensive understanding of the financial themes and implications depicted in the show "Succession" as analyzed in the video.