Creating Generational Wealth
February 25th, 2021 | 5 min
Generational wealth refers to the transfer of wealth from one generation to the next, allowing future generations to build on the financial foundation established by their ancestors. Here are some ways to create generational wealth:
Invest in real estate:
Real estate has historically been a great way to build long-term wealth, as property values tend to appreciate over time. Owning rental properties can also provide a steady stream of passive income.
Start a business:
Starting a successful business can be a great way to create wealth that can be passed down to future generations. Being a business owner is a lot of work, and should not be taken lightly, but with the right tools, is a completely doable way for you to help your family succeed.
Invest in the stock market:
Investing in a diversified portfolio of stocks can provide long-term growth potential, which can be passed down to future generations. Keep in mind, you’ll want to seek advise from an investment expert to start this process!
Save and budget:
Creating a budget and sticking to it, as well as saving a significant portion of your income, is the foundation of building wealth. Consider working with a financial advisor to create a comprehensive plan that takes into account your unique circumstances and goals.
Have a long-term financial plan:
Having a long-term financial plan can help you stay on track and make smart financial decisions. This can include setting financial goals, creating a budget, and developing a savings plan.
Create a family legacy:
Create a family legacy by teaching your children and future generations the importance of financial literacy, budgeting, saving, investing, and giving back to the community.
It's important to remember that creating generational wealth is a long-term process that requires discipline, patience and smart decision making. However, with the right support system and strategy, this multigeneration way of financial planning can set you and your family up for success in the long run.
Did you enjoy this article?
A newsletter designed to help
you achieve relationship goals.
A newsletter designed to help you achieve relationship goals.
To safely consume this site, we recommend reading this disclaimer. Any outbound links will take you away from Zeta, to external sites in the world wide web. Just so you know, Zeta doesn’t endorse any linked websites nor do we pay/bribe anyone to appear on here. Any reference to prices on the site are just estimates; actual prices are up to specific merchants and their current desire to charge you for things. Also, nothing on this website should be construed as investment advice. We’re here to share our favorite tools, tactics and tips for managing your money together. This content is for your responsible consumption. Please don’t see this as a recommendation to buy specific investments or go on a crypto-binge. Lastly, we 100% believe that personal finance is exactly that, personal. We may sometimes publish content on this website that has been created by affiliated or unaffiliated partners such as employees, advisors or writers. Unless we explicitly say so, these post do not necessarily represent the actual views or opinions of Zeta.
By using this website, you understand the content presented is provided for informational purposes only and agree to our Terms of Use and Privacy Policy.
1Zeta is a financial technology company, not a bank. Banking services provided by Piermont Bank; Member FDIC. All deposit accounts of the same ownership and/or vesting held at the issuing bank are combined and insured under an FDIC Certificate of $250,000 per depositor. The Zeta Mastercard® Debit Card is issued by Piermont Bank, Member FDIC, pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted.
2Zeta Annual Percentage Yield (APY) is effective as of 05/01/2023, for customers who qualify for VIP status. Minimum amount to open an account is $0.00. Minimum balance to earn the APY is $0.01. Interest rates are as follows: 2.20% APY applies to the entire balance for customers who qualify for VIP status. Interest rates may change after the account is opened. Fees may reduce earnings.