Just remember it starts with you, on that note don’t rely on your parents to leave you something when they pass away, because if your parents are like mine they don’t have anything to pass down to you. So start your creating your own Wealth.
ACQUIRE
All you have to do is buy. Ask anyone who has more money than you how they got their money, and most likely they will tell you they acquired something of value. That’s it creating generational wealth is not hard your just over thinking it.
Acquiring stuff can be even easier if you operate you bank account differently. All you have to do is three things.
1.) Lower your expenses
2.) Create a budget to save at least $100 a month.
3.) Only touch it to invest it.
If you took an accounting class you should know that assets are better than liabilities, but the problem is people like to classify miscellaneous things as an asset. Which is why it’s hard for many people to get ahead or create generational wealth.
ASSETS
Assets can be a house, stocks, a business, Gold, or simply anything that is giving you income right now.
Sadly people like to look at things that have potential to give them money as assets, but their only lying to themselves.
Look at everything you own and determined what is adding not just value, but income in your life. After determining what your biggest asset is simply create a habit of buying more of it.
DONT FORGET TO WRITE A WILL
There are plenty of places that can create your will, but why not do it yourself. Nowadays your just a click away to creating your “Legal Will,” from places like http://rocketlawyer.com.
I hope that in this new year you make a personal goal to acquire assets to increase the capital you own, and create generational wealth.
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