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
Avoid Unnecessary Debt
Focus on Education: Teach Your Children About Finance
Creating an Estate Plan
Leaving a Legacy Through Generational Wealth
1 Source: 70% of Rich Families Lose Their Wealth by the Second Generation” https://money.com/rich-families-lose-wealth/. 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.
For a comprehensive review of your personal situation, always consult with a tax or legal advisor. Neither Cetera Advisors LLC nor any of its representatives may give legal or tax advice.
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.
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