Nurturing Generational Wealth

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The top 1% of Americans hold about 32% of the nation's wealth, with an average net worth exceeding $10 million. The top 2% of Americans an average net worth of a little over $2 million; the top 5% a net worth around $1.03 million and the top 10% approximately $860,000. The median net worth of American households is around $121,700.  

Generational Wealth is any assets passed down by one generation of a family to another. This can include financial assets, real estate, businesses and heirlooms.  

Many think that wealthy people inherit their wealth. This is false. Approximately 79% of millionaires are self-made. A 20-yr study done by the Williams Group, a renowned estate planning advisory firm, found that 70% of inherited wealth is lost by the second generation and 90% is lost by the third generation.