Most families lose their wealth the second or third generation.... not because they didn't earn enough but because they didn't plan enough. Here is how to make sure your hard work lives on: 6 practical steps to secure generational wealth. 1. Develop a strong financial foundation..... Start with the basic emergency funds, insurance, debt management, and a consistent saving habit. A house is the only as strong as its foundation. your wealth journey begins with stability. 2. Create a financial plan.... A clear road map helps you align your income, expenses, investments and goals. Planning ensures you are not just earning money- you are using it with Purpose. 3. Make informed financial decisions Wealth is not just about how much you make... it's about what you keep and how wisely you grow it. Learn to evaluate risks understand investments and make decision backed by facts not emotions. 4. Seek professional advice.... No one builds a legacy alone. Financial advisors, estate planners, and tax experts help you avoid costly mistakes, optimise returns, and plan with precision. 5. Establish a clear succession plan. Without a plan, your wealth could become a legal burden. Set up wills, trusts and legal documents that clearly define how your assets will be transferred, so your family doesn't have to figure it out in a crisis. 6. Foster a culture of financial literacy.... Teach your children early. Involve them in conversation about money. Make sure that next generation understands not just how to spend wealth but how to sustain and grow it. Which step you have already taken? Which one do you need to work on next?
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