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Find New Ways to Build a Lasting Legacy

Find New Ways to Build a Lasting Legacy

July 12, 2023

Did you know an estimated 70% of wealth passed down doesn’t make it past the second generation? Up to 90% disappears by the third generation.1 This is why proper financial education, and an established estate plan are important. Building generational wealth requires a long-term mindset, strategizing and disciplined execution. Here are some tips to keep in mind and pass on to your loved ones.

Invest Your Money Wisely
Through our continuing work to invest your assets, there are potential investment opportunities and options you and I have and will continue to explore together to help you pursue your financial goals.

Avoid Unnecessary Debt
High levels of debt can derail your wealth-building efforts. Minimize your debt by prioritizing paying off high-interest debts first and avoiding unnecessary debt in the future.

Focus on Education: Teach Your Children About Finance
Having open conversations about money and teaching how to responsibly manage finances is key to raising financially independent adults.

Creating an Estate Plan
At its simplest, setting up an estate plan takes three steps: writing a will, setting up a trust and naming your beneficiaries.

Leaving a Legacy Through Generational Wealth
Financial literacy plays an important role in developing your lasting legacy. As you transition from building your wealth to leaving a financial legacy, contact the office to discuss strategies for passing on your hard-earned wealth to your loved ones and setting them up for greater potential.

1 70% of Rich Families Lose Their Wealth by the Second Generation” Accessed 17 May 2023.

For discussion purposes only and in no way represents legal or tax advice. For advice regarding your specific circumstances, the services of an appropriate legal or tax advisor should be sought.

This material was developed and prepared by a third party for use by your Registered Representative. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security. The content is developed from sources believed to be providing accurate information.