Good points, luck is a huge factor, but enough people have climbed the social and wealth ladder starting from insurmountable negative odds to prove there is more to it than simple luck. At the same time, enough folks seem born to lose, even when starting from a major advantage, that bad luck / karma appears to be a factor.
In rich families skill seems to skip one generation. I am reading American Heiress, about Patty Hearst. The Chief, Randolph Hearst had 5 sons, none finished college and none was a good businessmen.(Hearst also smartly protected the heir from them by hiring professional managers, and tying up the money in trusts.) Petty's father had 5 daughters, only 1 finished college. In most fortune stories by the 4th generation the money is gone...
Yes, that's the thing about wealth transfer: it doesn't really work that well. As soon as you spoil your kids (or if they know a bunch of money is coming later), they don't want to do anything. My parents gave us basically nothing unless it was Christmas or a birthday. And if it was Christmas or a birthday, you would still only got part of what you wanted. Of course I did not understand that then, but I see the wisdom of it now.
There are families in the UK who have managed to keep their huge wealth like the Rothchilds, Duke of Westminster etc. for centuries but it only takes one rash spender to blow the lot. The US has it's Gettys, Rockefellers etc. Many spent their fortunes living in hotels in Monte Carlo, Monaco etc. and gambling in the casinos.
I looked at some of those multi million dollar properties elsewhere in this forum and wonder if the inhabitants are happy. As one matures over many years one can see more clearly the important things of life and it really comes down to happiness. Without that one is screwed whatever the surroundings and material luxury.
It depends on the the person. All those factors can have an impact. Don't discount unseen forces in the universe. surf