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Generational wealth doesn’t just appear out of thin air. It’s an effort that takes intention, strategy and consistency. If you’d like to build wealth and have enough to pass down to your children’s children, there are a few ways you approach this goal.
Leaders are readers. If you want to become a leader of your family in the wealth category, you’ve got to make sure you’re reading books that will motivate and inspire you to become better with your finances. You’ll need to read books that teach you more about money management as well as wealth management. In order to build wealth, it’s going to take a lot more than working a full-time job to get there. You’re going to have to make a shift in your mindset and develop a life that supports that new mindset. Part of this involves the information you’re reading on a consistent basis. Make sure that you’re consuming a new financial book that teaches you about wealth. It’s also a good idea to re-read the same books to find new gems and put them into practice.
There’s nothing like getting into the presence of people who are on the same journey as you. It takes a lot of commitment to build wealth, and it’s always helpful to develop a network of friends who understand what you’re doing and what you’re trying to accomplish. Go to wealth management seminars and financial conferences. Sometimes, the networking component is the most impactful part of the experience. When you’re exposed to new people who are actively reaching the goals you’re looking to accomplish, you’ll be able to gain a new sense of motivation and inspiration to keep going.
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