Building Generational Wealth

This topic is one of my favorites because it is taking a more proactive approach to life. Planning for the future of your children and grandchildren but not just through a term life insurance policy that provides funds when you pass. But planning that will build over their generation and the next and so on. Have you ever noticed that the rich keep getting richer. How do they do it. It is a multifaceted plan not a single layered approach.

Estate planning is about more than preparing for your death. It’s about preparing to help the generations of your family who follow you to live.

For many people, a focus is on building generational wealth, and that goes beyond simply building up a retirement fund or a stock portfolio to pass on to their heirs. For those who want to know the next generations are cared for, they often add life insurance to their estate plans.

One method for building generational wealth is whole life insurance. Part of building wealth is avoiding unnecessary taxes, fees, penalties, and hedging against inflation. Whole life insurance does an exceptional job of doing this.  

Is it too late to start?  It is never too late to start but it does make a difference the sooner you do.  The younger and the earlier you start the greater the wealth and peace of mind you can build before the next generation needs to draw from the funds.  

Whether you are just getting started in your own financial planning, are a parent or grandparent interested in planning for the next generation reach out to me to learn how!