How to Build Generational Wealth! | Clever Girl Finance
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Published 2020-07-10
For instance, you might be focused on getting out of debt, saving money, or pursuing other financial goals. It may be that creating generational wealth is not on your immediate priority list while you tackle your current finances. But with that being said, you can still build it into your long-term financial goals.
Not quite sure what transitioning generational wealth means exactly? Don’t worry! I share exactly what it is and how to build it for your family in this video.
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All Comments (21)
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Hey all! In this video, I'm sharing a few tips on building generational wealth and why it's important to add it to your long term plans. Remain well and talk soon!
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Invest in the stock market. Invest in real estate. Build a business to pass down. Take advantage of life insurance. Invest in your child's education. Teach your children about personal finance. Create an estate plan. Write a will.
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Such a great video! with superb points!🙌🏾🙌🏾 1) Investing 2) Real estate 3) Starting a business 4) Having life insurance 5) childrens education I wish more people thought about these things sooner!
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As a black male, this knowledge is highly appreciated and supplies so much knowledge! I am 24 and taking the steps to make sure things are set in place for myself and future generations
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Generational wealth is so important as it helps to pave the way for future generations so they don't have to struggle with some of the issues we have to today. These are all great points with opportunities for building generational wealth and it should include teaching our children and family memebrs how to effectively manage their finances/money so the wealth will last for many generations to come and not just end with them
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I am a big believer in generational wealth. I have spent years teaching individuals about this, especially in the black community where it is severely lacking.
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Thanking my greatest of great grandmother Olivia, for investing for generations of grandkids she would never physically meet. She purchased 14,000 acres of land in 1943, that I now have inherited and own alone. Very emotional as I explain to my daughter the little history I know, of the ancestors I did know before they transitioned. The importance of history and this type of love. I am beyond nostalgic and overwhelmed with honor 💞
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I appreciate how you emphasized not just building the wealth, but also to put a plan in place on paper. I've watched many families tear themselves apart because a relative didn't have a plan before they died, so the surviving members fight over things. It's also a comfort to your loved ones to have everything organized so that when you die, they're not worried about how to pay for the funeral, etc. and where all your important documents are.
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Generational Wealth is so important. We should all want our Children to start off in a better position than we did. Great Video!!
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I like that you explained what generational wealth is as well as how you can achieve it. Lots of people only think about the here and now or their own lives. This is a way to help your family and even your community. Nice job on the video!
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Thank you for this very helpful checklist. I hadn't considered each of these elements as adding up to make generational wealth, and it's such an important topic.
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1. Invest in the stock market (invest long term) 2. Invest in real estate (get equity and cash flow) 3. Build a business that can be passed down 4. Take advantage of life insurance 5. Invest in your child's education 6. Create your estate plan: a detailed will, a custodial trust, named beneficiaries)
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Thank you! Great video! Very helpful as l am trying to get this started with my family. Thank you again.
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Thank you so much, I’ve been looking for a clear explanation.
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Excellent! Good video.
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Very neat. Thank you.
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Thank you for this video. You are a great woman. God bless you abondently
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Thank you for your advice. This is one of my bucket list goals.
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Thank you sm for this video, generational wealth is so important!
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Good information and I love that shirt!
