Could your family benefit from generational wealth? Yes! Family wealth, big or small, gives your children, and theirs, a head start in life and the chance to start their lives off debt free, get a good education, buy a family home or even start their own business. Learn more about the benefits of generational wealth plus we look at two South African stories to show how generational wealth really works and how if you put those small steps into practice, building generational wealth can start with you.
Ready to start building your family’s wealth so your children and theirs can inherit? You can start by improving your financial knowledge and teaching your children good money values. You can also create generational wealth by taking out life insurance, investing in the stock market or property, or building a business to pass down to your children. For students, completing your tertiary education and excelling in your chosen field is the first step towards creating family wealth.
The family money your children inherit could be spent in a year – or it could last them a lifetime and be passed onto their children! That’s true generational wealth. If you take steps to preserve your financial legacy such as making a will, taking care of the family home and other investments and teaching your children about money and how to spend it wisely, family money can benefit many generations.