8 Ways To Build Generational Wealth [In 2022]

Generational wealth building is an approach to financial management that secures personal, long-term prosperity, but that of your successive generations as well.  

What Is Generational Wealth?

Generational wealth suggests intergenerational transfers of capital that begin with one wealth-originating family. Those resources then pass from one generation to another. 

Why Is Generational Wealth Important?

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. 

Challenges Of Building Generational Wealth

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.  

Eight Ways To Build Generational Wealth

Here are the 8 best and most proven approaches to building generational wealth:  

1. Invest In Your Child’s Education

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.  

2. Invest Your Money

Market investing is a time-proven approach to growing your wealth without putting in the extra work associated with managing income-producing real estate or a small family business. 

3. Invest In The Stock Market

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. 

4. Invest In Real Estate

Investing in real estate can be profoundly beneficial to establishing long-term wealth. However, this strategy is not without its challenges.  

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