Creating Generational Wealth
Greetings Family. This is not so much a blog as it is a list of things we need to do in order to create generational wealth for our families. After all, that is why we are here.
These are treacherous times for us. But they always have been. Thing is, we are tired. Dead tired; bone tired; just tired. The world has been on our backs for generations. Many of us have not been afforded the benefits of generational wealth. Not really. Some have been just a bit more comfortable than others, but there are not many that have truly experienced generational wealth. Generational wealth is something as simple as the term denotes, passing wealth down from generation to generation. And I do not mean from ONE generation to ANOTHER. I am talking about generation, to generation, to generation. One generation passing down their hard earned wealth to the other generation, who in turn does the same and they subsequently do pass along the wealth.
The hundred of years of racist oppression on Black, Native, and other indigenous peoples in the United States has had an alarming impact on our abilities to create and maintain wealth and an even more detrimental affect on our ability to pass down generational wealth. I won't get into the hateful details in this post because that is not what this page is about. It is about us lifting each other up and collectively joining forces to create wealth and leave a legacy to our family members so the their struggles are not as profound as our ancestors. Here are some tips and things we will address in this group. Welcome family!
How to build generational wealth
Invest in the stock market (we will not address that here).
Invest in real estate (this is why we are here.
Build a business to pass down (we will discuss this).
Take advantage of life insurance (this is critical and will be discussed in this group).
Invest in your child's education (each one teach one, but every child must get educated).
Teach your children about personal finance (a must. cannot build without this).
Create an estate plan (let's face it, we all have to go. It is divine order).
Write a will (or the state can take what you have amassed, and family WILL bicker. Don't go out like that).