How to Build Generational Wealth

Being born with a silver spoon in your mouth is usually used as an insult aimed at members of high society families. People born into wealth seemed to have everything given to them since birth, but what many people quickly forget is the sacrifice and hard work that the family's founder went through, to create that lifestyle and privileges. These founders toiled and sacrificed to create something that they can pass onto future generations by creating generational wealth. A common theme amongst every parent is that they all dream of creating a life for their children where they would be happy, healthy and never lack anything. A life where all their needs would be met and fulfilled. This is also what wealth family founders intended for their family and generations to come. To allow their families to have an easier time and to have a better life than the previous generation.

#GenerationalWealth

Timestamp
(0:53) What is generational wealth, and how is it different than personal wealth?
(1:58) Who has generational wealth?
(3:19) How can you make generational wealth? And how long will it take?
(6:13) What are some of the benefits of having generational wealth?
(7:50) What are some of the potential dangers to your newly built generational wealth?

Popular Videos:

Practical Wisdom – Interesting Ideas

DISCLAIMER: I’m not a financial adviser. These videos are for educational purposes only. No official financial advice is being given. Please always check with a professional before making any investments or financial decisions. Your investments are your sole responsibility, these videos merely share my own opinions with no guarantee of gain or losses.
- The Audible link is an affiliate link meaning if you make a purchase using the link, I will receive a small commission at no extra charge to the buyer.

[aronfrasheri]

To whoever reading this, never stop chasing your dreams you can do it. Keep pressing and thriving you will make it!! Consistency is the key to achieve your goals

[JLW]

0:54 Generational Wealth vs Personal Wealth
1:05 Family Generational Wealth/Family Fortune
4:47
3:59 Growing
4:58 Appreciate Assets
5:09 Trust Fund/Compound Interest
5:52
6:40 Individual Trust Fund
7:25 State Lottery/Grant
8:50
9:34
10:14
4:01 Long Term Investment
5:19 Basic Intrest
5:38 Bonds
5:52 Outside a Trust Fund

[sandragailgaines]

just planned the best surprise party for my mom and gave the best speech i've ever given because of this video, thanks for your help the best way to start progressing in life is by saving money, i promise nothing brings the confidence level up like a a good finance believe me!! i'm taking her to hawaii afterwards..

[jusrarsh]

This is why it’s extremely important to implement financial literacy from age 10 up. Life has it’s tempting poison that will ruin everything.

[joysoyo]

Generational wealth is built on love. Dysfunctional families never have love, nor generational wealth.

[michael]

A good man leave an inheritance to his children's children:

[vitoriamartins]

This is actually the best 4 steps to create generational wealth;
Step 1: INVEST
Step 2: INVEST with the profits gotten from the previous INVESTMENT.
step 3: INVEST AGAIN!
step 4: keep on INVESTING!

[robertanderson]

The philosophy of the rich and the poor is this, the rich invest their money and spend what is left. The poor spend their money and invest what is left

[oneillbilder]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.

[wisdom-for-all]

Indeed, build something that outlives you. We are Born To Make An Impact, not to just pay bills and die. Get up, dress up, show up, and never give up 🖖

[xixi]

Health is the best asset. The best wealth. Don't ruin your psyche to earn a ton of money, because you're actually digging a pit for yourself and your family. With a ruined, burnt out psyche you can't create happiness. Why even have money if you're unhappy, unhealthy, addicted to drugs and alcohol?

[superslyko]

There is a fine line between giving your kids $$$ and not having them value $$$. My son actually said, "Oh Dad, no biggie just buy another 1!" I grew up very poor & as a result I watch every penny. I've accumulated quite a few bucks, but now I must keep it hidden in order to grow some more maturity into my children. What's more important teaching a man how to fish or the fish?

[miken]

No. The key to generational wealth is the correct values. The founder valued investing because they grew up poor. Their successors will grow up wealthy and therefore not value money or investing. The third generation thus ends up wasting the wealth due to laziness and giving into temptations. Successful families impose a strict of rules on behaviour before successors can inherit. Trusts can help, but control of that trust breeds corruption.

[mstr]

Don't you hate being the first one in your generation to implement this discipline? Thanks a lot, MOM AND DAD!

[pyschologygeek]

Create a budget. Understanding how you're spending your money and where you can cut back is essential to saving and growing your wealth.

[sno]

It's so much money out there, money shouldn't even be a problem in 2021-

[modernadulting]

Diversifying your investments and your income is vital if you want your wealth to last. That means don’t just rely on your business or your jobs. Own stock, invest in real estate, and establish multiple income streams.

[emmanuelonyidon]

I once ask myself oh when i my going to make it to the top but now am working towards it so my advice is it so far resilience and focus is the key no hope is Lost for me ❤

[Templarswordxx]

Great vid! Excellent use of time. Thank you

[you-know-who]

Ben's gift of 2000 dollars being realised as six and a half million 200 years later appears to have grown at an average of just short of three percent per year.
While that was clearly a safe way to invest I am not sure the realised amount would buy as much as the original amount
This leads me to think that Ben probably should have shortened his long term investment
Maybe after 30 years it would have been enough to build a. citizens park or kick start an education endowment for the citizens which others could also contribute or be invested into a large forest over sixty years with strict conditions that it could not be cleared by city authorities without large compensation. The forest could become sustainable while allowing for cultivation creating high value timber jobs dividend to the public purse an amenity district wild life and a necessary break to urban sprawl
Just one idea.
I think a long term investment should be ready to start paying dividends in a time period of no more than 50 or 60 years and be designed to only pay out dividends.

Great video 👍😀