Absent the resources provided by familial wealth, even the most career-minded people continue to find themselves burdened with an endless stream of debt, taking years to pay off. Moreover, as time progress, acquiring new capital is more challenging.
While building generational wealth is a goal that many income earners aspire to, it requires earmarked discipline.Generating significant capital that leads to lasting wealth is not as simple as working hard and passing down a set of assets accumulated over a lifetime.
Investing in your family’s education, particularly early education, is crucial to sustaining wealth. Raising financially educated, independent adults is the only path to securing a legacy that lasts more than a generation.
Investing in the stock market over the long term is the most proven approach to building a large source of wealth that doesn’t require the amount of work necessitated by managing real property or a small business.