Generational Wealth: What it is, Why it Matters and How to Build it!
Did you know that one of the top indicators of a child’s social class is the social class of their parents? Social mobility is at an all-time low in the US.
Nearly half of the kids born into the lowest class will stay there for their entire lives, and only 4% will ever reach the highest class.
Generational wealth is any form of inheritance or financial assistance from parents or other family members.
What is Generational Wealth?
Generational wealth is created in exactly the same way that regular wealth is created. Smart investing, asset building and frugal living are some great examples.
How is Generational Wealth Created?
Here are 11 things you can start doing right now to help you build wealth for your own financial goals and for the financial security of future generations.
Debt is a huge wealth killer. According to the Fool, over 16 million families in the US have a negative net worth.
Get Out of Debt
Financial emergencies can hit at any time. And if we aren’t prepared for them, we may end up relying on credit to resolve them.
Establish an Emergency Fund
SWIPE UP FOR MORE!
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