Building Generational Wealth: It’s About Action, Not Affluence

For some reason, when most of us think about wealth we picture the good life — lavish mansions and expensive cars, promising investments traded on Wall Street or golden parachutes stuffed with cash. But the reality is that you do not have to be a millionaire in order to start establishing generational wealth. Generational wealth is a concept that isnt just for the ultra rich, anyone can have generational wealth if you take the proper steps.

Start Small, Think Big

One of the biggest fallacies about wealth building is that you have to first save large amounts of money from which capital investment can be done. In fact, even small stuffs add up over time. If it is 100 dollars per month then so be it, if its a $1.000 deposit every month that is fine too — the most important thing in investing and saving for your future to always contribute consistently each (it really does lay the foundation). So by starting small, you’re not only making it easier on yourself to take steps toward a sounder financial legacy but also improving your self-discipline.

It is One of the Action Points

Making generational wealth is all about your commitment to do DAILY ACTIONS, no matter how small it is. Making excuses or waiting for the “perfect” moment to start investing is all too common. Truth be told, time is actually one of the biggest wealth accumulation drivers. Because, as the old adage goes: The best time to invest was ten years ago; and the next best day is today.

Compounding Interest: Your Best Friend

Regardless of how much capital you start with, one undeniable appeal of investing is the ability to benefit from compounding interest. By contributing regularly to your investments you basically can have asses growing money for yourself much like compound interest but in investing, it grows exponentially over time. Your contributions today could mean big returns in the future, growing wealth that can be inherited over generations.

Educate Yourself

You need to know what your options are before you jump in the investment world. You may be an interested in stocks, perhaps real estate or a plethora of other wealth generating vehicles , regardless having some foundational knowledge that can provide context to make your market “predictions” will only further enable you! There are plenty online resources, and financial advisors will be able to guide you through this journey.

Set Clear Goals

Generational wealth… You understand that key financial goals must exist. Know what you are fighting for not just in the present, but also respective of future generations. By knowing your vision, you will stay motivated and focused so that you can remain committed to the investing plan.

Stay Committed

If wealth were built over night, everybody would be financially free. It might be a bumpy ride but sticking to your financial plan should be paramount. Find small things to celebrate and keep lets you stay engaged with your long-term goals.

Final Thoughts

How to Generate Generational Wealth (Regardless of Where You Are… thankfully) The secret is to just create a habit of execution, invest your money correctly and keep learning about finance. This way, you can have a lasting legacy that is not only about yourself but for your family and future generations. Your future self will thank you.