Generational Wealth
Description
Vocal Characteristics
Language
EnglishVoice Age
Young Adult (18-35)Accents
North American (General)Transcript
Note: Transcripts are generated using speech recognition software and may contain errors.
a lot of us have heard that intimidating phrase generational wealth, but only a few of us understand what it means these days. The importance of having strong finances is more prevalent than ever before because we live in such uncertain fiscal times. Most of us are bogged down by our financial constraints, just making enough money to cover food and rent, struggling to save any money in this economy. Most millennials, graduate college and debt, which makes concepts like saving money to secure generational wealth a far off reality. So what is generational wealth and how can you work on acquiring some for yourself and your Children? Generational wealth by definition means any assets that are passed down from generation to generation. If your parents or grandparents left any sizeable assets to you when they passed such as a house, property, gold or cash that would count as generational wealth assets can include anything from stock market investments, to real estate or even a family business. Basically anything of monetary value that is passed down constitutes generational wealth. It can seem overwhelming, especially for people who live paycheck to paycheck, to save any amount of money, let alone save for generational wealth.