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► We must teach real financial education. ► We must understand that building generational wealth occurs over many lifetimes. ► Generational members who left legacies are known, remembered, and live on; ► Generational members who left inheritances passed on generational wealth to future generations, they are known, remembered, and live on. ► One way to build wealth is to build on the financial success of pass generations. The Rockefellers, Kennedys, Marriotts, and Hiltons (known as old family money) are examples of how generational wealth is passed on. ► It takes time and focused effort to build real wealth. When someone in the family steps up to the plate and says, I will lay the foundation to pass on generational wealth instead of generational poverty, then the poverty chain that has kept that family in generation after generation of poverty will be broken. ► Generational wealth building begins when you erase the poverty mentality thinking and replace it with the financial education of the wealthy elite that has been hidden for decades. ► There are 7 financial principles the wealthy teach their family that is passed on from generation to generation.
1. Use "Debt Reduction Strategies", learn how to have debt work for you instead of you working for debt; 2. Use "Saving Strategies", save in Real Money, Gold, Silver and Platinum; 3. Create "Income Generator Systems", create self-funding monthly cash flow generating systems; 4. Implement "Tax Strategies" to reduce tax liability by 97% or more with full disclosure to the IRS; 5. Implement " Asset Protection Strategies", learn how to control, protect, and pass on your assets to future generations (this is how wealth is passed on); 6. Engage in "Charitable Giving", create a family foundation to make donations to the causes that you want to support; 7. Implement an "Investment Strategy", find investments that produce good returns and grow your assets.
The next time you hear, "The Rich are getting richer and The Poor are getting poorer" understand that the reasons are because the poor lack knowledge and information for generational wealth, or when they have the knowledge and information, they fail to execute the required strategies necessary to generate, maintain, protect, grow and pass on their wealth.
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