Generational wealth is a type of financial planning that focuses on transferring stable and significant financial resources to future generations. Can the majority of the new generation understand what it takes to build and maintain wealth because they grew up in a financially stable environment?
It’s estimated that 70% of wealthy families will lose their wealth by the second generation and 90% will lose it by the third. There are a variety of reasons why this happens including:
• Generations are not taught to talk about money
• Many have no clue about the value of money or how to handle it
• Most parents find it very difficult to discuss their wealth, and what will happen when they’re gone
There are many elements that can make your wealth last for generations to come such as developing a good estate plan, educating the next generations and investing wisely with a reliable and trustworthy platform such as FWD Invest First Plus. It magnifies your savings for you to pass on to your next generation while providing protection for your family’s well-being. Speak with one of our Agents to begin investing with us!