One of the things that parents care about most is making sure that their children are taken care of. That means caring for their children, physically and emotionally. To build generational wealth you tneed to plan and strategize.
Get your children involved in your family’s finances from a young age. Even something as simple as having them sit down with you while you pay the bills and explaining what you’re doing can help them learn about managing their money and family wealth.
Make sure that your kids know that you’re there to help and serve as a support system for them. Even small gestures to make sure they know you care can help them feel more comfortable asking for help, saving them from falling deeper into a financial hole.
The more money you have, the more assets you’ll have available to give to your children. Set aside a portion of your income for saving and investing, and make sure to take advantage of opportunities like your employers’ retirement plan.
One of the points of generational wealth is that the money you earned during your life should continue doing good for your family after you’re gone. Proper estate planning and a will can help make sure that your money does as much good as it can.