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Why Generational Wealth is Important

By Ora Partners 

Generational wealth is the steady accumulation of assets from one generation to the next, and it can be a powerful tool for your family’s financial security. Generational wealth can be divided into two primary categories; inherited and built. Both have their advantages and are managed differently.  

Inherited wealth consists of  assets passed down to successive generations, often through family lines or other means. This could include real estate, stocks, bonds, and cash. On the other hand, built wealth is earned or acquired by an individual during their lifetime and includes investments, accounts, business ownership, or intellectual property rights.  

Continue to grow wealth 

An effective strategy for maintaining inherited wealth encourages individuals to consider investments such as stocks, mutual funds, bonds, or other vehicles that can help grow existing assets over time. Additionally, by establishing a trust funds individuals can make the process of transferring wealth from one generation to the next easier.  

Building a business is another viable option if you want to create more wealth within the family. This could involve selling products online or providing services that generate money over time. It may also benefit current generations to investigate passive income sources such as dividend-paying stocks and rental properties to create a steady flow of revenue for future generations. 

Management of assets must be facilitated carefully and with due diligence. The key is to continue to invest in generational wealth portfolios. Constructing a diversified portfolio of investments is fundamental in protecting against risk factors like market downturns, inflation spikes, or any other economic risks that can impede generational wealth over time.  

Tax laws should be considered when deciding how best to move wealth between generations. Moving assets during someone’s lifetime may result in reduced taxes compared to those due upon death at the time of inheritance transferal. However, expert advice should always be sought beforehand to ensure compliance with all applicable regulations and guidelines. 

Protect strategically 

With careful planning and wise investments, you can ensure that your family’s resources are maintained over time. Here are some strategies to consider:  

  • Develop an estate plan: Establishing an estate plan allows for safeguarding assets from taxes or creditors in the event of death or disability. This should cover all assets, from retirement accounts to real estate investments and life insurance policies. 
  • Secure insurance coverage: Appropriate insurance coverage is necessary for protecting family wealth. Risks protection such as property damage, liability protection, and health insurance should all be considered when planning. 
  • Invest strategically: To maximize returns while limiting risk, diversify asset allocations and select low-cost investments with long-term growth potential when investing funds. 
  • Set up long-term trusts/accounts: Creating trust funds or other financial accounts provides tax benefits and protection from creditors, making them an excellent option for those wishing to protect their assets over time. 

Families of generational wealth should invest wisely and work with a trusted wealth advisor – by having a smart advisor on your team individuals can navigate important tax and estate planning issues, especially during volatile economic times. With thoughtful planning and smart investing decisions, families can create a legacy of financial security that transcends generations. 


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