Abundant Mindset
The true foundation of generational wealth starts with an “abundance mindset.” This means believing that wealth is plentiful and within reach, and that you deserve to attain it. As the most crucial aspect, all other parts of wealth are built upon this belief.

Asset Protection
Beyond money, various assets can be inherited to help build generational wealth. These include owning a home, running a business, and having different types of investments.

Values and Esteem
Teaching children skills and knowledge can empower them to generate income and plan for their financial future. Whether it’s learning to write or cook, mastering trade skills like electrician or plumbing, or developing expertise to start and expand a business, there are numerous paths to preparing the next generation for prosperity.

Financial Protection
To shield your family from financial stress, an affordable life insurance policy can be very effective. Besides offering a death benefit, some policies build cash value over time, which you can access while you’re alive. Additionally, the value of your policy can be part of your children’s inheritance, helping you set aside funds for beneficiaries without needing to save money yourself.

Access to Guidance and Mentorship
Gaining financial advice and learning from others’ expertise is crucial for building wealth. Seeking guidance from a professional or mentor can aid your growth and help you understand what you might not know. Starting with your family, colleagues, and social networks can be a good approach.