Building a financial legacy
Providing for your family is important, it creates stability and provides opportunity for your children and possibly grandchildren. It makes you feel good to see them benefit from the fruits of your labor. And you want that to last — even after you’re gone. During the next two decades, it’s projected that older generations will pass down $80 trillion to their children and heirs.1
That’s called generational wealth.
What is generational wealth?
Generational wealth can take many different forms including cash, investment funds, stocks and bonds, real estate property, and businesses — all great assets to pass on to the next generation.
Perhaps the easiest way to start building generational wealth is through homeownership. According to the Federal Reserve, homeowners have a median net worth of $255,000, while renters have just $6,300.2
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