How To Build Generational Wealth
What Is Generational Wealth?
Generational wealth comes in many forms, but the simplest way to put it is that it includes any financial resources you give to your children, their children, and beyond, offering them a head start in life so they don’t have to start from zero.
Money
The most basic form of generational wealth is money. That can be in the form of simple cash or other valuable assets, such as a car, home, or investments.
Knowledge
Even if you don’t have vast amounts of money to pass on to your children, you can help them tremendously by educating them about money. Teaching your children how to build a budget, use a credit card, or how investing works is all a form of generational wealth. The knowledge you give them can help them improve their financial life.
Support Systems
Support systems are another form of generational wealth that doesn’t strictly require that you have a lot of money to give to your kids. Simply being there and being willing to help can help your children get a leg up in their financial life.
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