Generational wealth is defined by financial assets that are passed down through families to children, grandchildren, and beyond. This includes, but is not limited to cash, property/land, investments, and so much more.
Unfortunately, the "Black" community, as a whole, has not been consistent with this practice. We fail to acknowledge the importance of not only leaving a legacy for our children but also ensuring that we do not leave our loved ones in debt.
According to forbes.com, there are five key ways to get on the path of financial freedom and security. They include but are not limited to:
1. Financial Education: Make sure you have a financial coach to help get & keep you on track to your financial success.
2. Investing: Learn about the best interest rates available to you when it comes to not just saving but growing your money as well.
3. Invest In Real Estate: Land ownership is one of the number one money makers! Rather you buy land for the purpose of leaving an estate for your loved ones or making a profit, this is an avenue worth taking seriously.
4. Saving & Creating A Business: These days, you can create a business with almost any great idea and the consistency to succeed in business. Find out how we can help you explore those options and expand your wealth!
5. Having Proper Life Insurance: Life protection is a must have for every "Black" family! Ask our team how we can get you properly protected with a financial plan that will benefit you and your loved ones!
If you are interested in exploring your financial options at no cost, click here to contact us and ask how an ATLA team member can professionally help you today!
Generational wealth can start immediately with opening and putting money away in a savings or money market account as well as investing in the stock market or IRA or 401k.