Easy Ways To Build Generational Wealth
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- Опубликовано: 15 сен 2024
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Rachel, my husband and I are in our 70’s and have been married for 52 years. We have never had a mortgage. My husband was a contractor and we paid as we built. Almost 4 years ago, we signed our house over to our kids, with a life tenancy. As long as, at least one of us lives in the house for 5 years, the house can’t be used for our medical bills. We have had a will since our first child was born, 51 years ago. The kids names are on all of our accounts and, other than a couple bills (yes I’m the culprit) our vehicles and everything is paid off. I had a couple health issues, fine now, but wrote everything bill wise and last wishes wise down for my families use. I feel like we have thought this out and made wise decisions. As always, thank you for your advice🙂
so you are trying to scam the taxpayers into paying for your expenses... Hopefully one of your kids scam you 😂
having a toxic family will unfortunately ruin it all. My mom's brother lied and stole everything from her before she died and since I never really met my dad and he died when I was 15, exactly 0 generational wealth here. My husband and I are trying to do better to make sure our son has something to help him in his future.
''family is over rated''. sis got mom to change her will on her death bed.
wife and i never wanted kids. our will simply says, ''all money to our local
humane society'' again, family can gut you and is not what society tells you it is...
from a personal angle I'm aware continuing to invest in periods of higher volatility is a Smart way to build wealth.
yeah that's a good path, focus on a good strategy relax back and watch it compound within the years. In good time you'll see returns.
in my case Carl Jason Cohen has assisted me in doing that effectively, I'm not an expert so I lack experience in investment strategies, I work and my consultant handles the rest.
Please could you guide me on how to get in touch with your consultant? My funds are being eroded by inflation and I seek a more lucrative investment strategy to effectively utilize before I consider retirement
I just googled the man you mentioned, I am quite impressed with his credentials, will get in touch because I need all the help I can get, and consequently schedule a phone call. Thanks.
The market involves a whole lot of risk and he recognizes that and best believe this is the main reason for his long term success
We are in our mid fifties and just starting the baby steps again.
I have 3 kids almost 4 (one on the way :) Building generational wealth is a priority. Proverbs 13:22
Learning with Rachel
#1 way, do Not withdraw 8% every year! 😉
All Money In, No Money Out
- Nipsey Hussle
Our problem is we have no children, siblings are too old, only one niece responsible enough to inherit. Got to find more charities.
Consider looking locally. I found a church that has a sister church that needs help. I also find the local food bank loves our help.
navajowaterproject
is an amazing charity that builds water wells for Americans that dont have access to clean water... sad that this happens in such a rich country. Please consider this charity ❤
Rachel I'm the author of EIGHT DAYS IN AN INNER CITY SCHOOL please talk about the out of control OCCUPATIONAL LICENSING for k-12 teachers that's why we have teacher shortages
Will not be building generational wealth as my only child does not want children, so have to just worry about passing on to him and have charities to donate to when I'm gone.
Step One: Have a wealthy father who was born into a privileged family.
Racheal nice name ! Fire investing saving between 40 amd 50 average $300 a week of my income ! Wheres the best place to Invest so can use money for fire in 5 years ?
What about spend your money and let your future generations to earn their money, with hard work and effort?
Why not both??
That’s fine but don’t cry when others kids have better opportunities than yours
High earners. 15% investment
Where is the link to talk to an investing pro?
My problem is I am building Generational Wealth but I do not want any kids and my only sister also do not want any so I guess there wont be a next generation😅
😂😂😂
Charities, close friends, etc.
Same here, only child, no children and no plans. I'm not exactly building a fortune, but I don't trust charities and I don't want to leave everything to somebody who will just yolo it all gone in no time, so I've got some thinking to do by the time my parents are gone. If I don't do anything, everything would be split up and go to the (children of the) siblings of my dad, which I have never met in my entire life.
@@livingunashamed4869You beat me to it. Pick a charity that you believe in.
@@k-mart7475 Sociologists believe single-households will outnumber couples in the near future. I strongly believe this will change the way people live, having a mix of family homes, studios/apartments, but also more cohousing, communities, housesharing...
I am planning to rent out a few rooms of my house and maybe, if this works out, one day move to a bigger property where there is more room for multiple living spaces.
I'm sure one or multiple people will cross my path that I can trust what I've built up to for them to continue it.
I want to save for my baby’s college fund but what if he wants nothing to do with college when he gets older?
You take it out. Or have it for grandchildren.
‘ I think ‘ they just changed the 529 plan rules that permit you to convert some portion of college funds into an IRA for the child. College isn’t getting any cheaper saving early and utilizing compound interest is a strong tool and works better the earlier you start.
I didn’t save in a 529 for the oldest grand. Yes, I pay taxes, but now he can use it after 30 if he doesn’t go to college ( 30 is my choice).
Royal? That's a weird example of generational wealth.