6 Ways to Create Generational Wealth And How To Pass It Down To Your Kids

In this episode, Patrick Bet-David discusses how to grow and maintain generational wealth.

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[Patriciacraig]

Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.

[Richardcarlett]

My aunt passed and I inherited some of her portfolio and cash savings, I’m 51 with about 400k cash in savings and as usual everybody’s preaching invest, so what stocks are a good long term buy, only major purchase I intend to make is buying a home in 5years from my return

[AndersonFair-cybb]

Financial management is a vital subject that many avoid, often leading to future regrets.

[debbygradley]

Putting well-earned money into the stock market can be over emphasized for first-time investors, unlike a bank where interest is sure thing! Well, basically times are uncertain, the market is out of control, and banks are gradually failing. I am working on a ballpark estimate of $5M for retirement, and I have a good 6-figure loaded up for this, could there be any opportunity for a boomer like me? I'm nearly 60.

[tonysilke]

One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I hope I make profits.

[austingraff]

Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?

[lawerencemiller]

if the idea is to build an income stream to use as complement for retirement, or at any given point if needed, then building a dividend growth portfolio always buying adding to it could be a good and peaceful path. On the long run consistency and perseverance could guaranty the desired income stream goal with little worries

[stephaniestella]

Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities.

[albacusBC]

I recently started thinking seriously about how to think about money in a way that grows it both for me and my future generation. I started with 400k stock portfolio but it's hard for me to build confidence. I want to invest another 200k over a three-month span, but I want to be strategic about doing it so I can grow more and not stay stagnant. Any suggestions?

[williamyejun]

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too,

[erichkraetz]

Talked to my millionaire uncle (been investing in Vanguard funds for 30 years) last night and asked what advice he would give investors in today's market: "If you're a long-term investor, you should be buying stocks now. Ignore the news, it doesn't matter over the long-term."

[jameswood]

What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.

[Curbalnk]

It feels like if people don't see growth in a week or a month they throw a tantrum sell out then proceed to call the market a fraud, lol. Forgetting It's always the hard times that show us how to be better investors making at about $2M for the long term ; understand and know the path needed and stay committed to the craft. Be smart don't let fear stop you from making money

[joesphcu]

The investment you choose isn't right or wrong, just depends on the kind of business person you are or simply the kind of person you are. However, the end game is investing money long term creates wealth every time. Just pick what you like and understand, invest and it will pay off. A lifetime of investing for 5 mil is not hard to accrue.

[Raymondjohn]

Great Video Mav! Maybe make a video on potential investments in this current market that would fetch substantial profit, been coming across articles on bloomberg, business insider etc about folks raking in $200K averagely in 6weeks using some sophisticated strategy and I'd love to know how.

[bobbymainz]

Protecting your capital is much more important than making money. Basically because if you lose your capital, making money is much harder. ''Missing the train'' vs. ''losing your money''. There are a lot of trains, but if your money is gone, it's over.

[kortyEdna]

The economic crisis and downturn are all the signs of 2008 market crash 2.0, so my question is do I still save in the US dollar or is it okay to move all emergency and savings to precious metals?

[jenniferpowell]

Heard someone say the best season for a financial breakthrough is now, especially with inflation running at a four-decade high. I have approximately $250k stagnant in my portfolio that needs growth. What is the best way to take advantage of this downturn?

[ericprunty]

The stock market rally run is over but I don't know if stocks will quickly rebound, continue to pull back or move sideways for a few weeks, or if conditions will rapidly deteriorate.I am under pressure to grow my reserve of $250k.

[darnellcapriccioso]

For 2023, it’s hard to nail down specific predictions for the stock market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.