Nurturing Generational Wealth
In The Know
Facts
What is Generational Wealth?
Most people assume wealth is passed down like a family recipe and wealthy folks inherit a big bag of money. Nope. The reality: roughly 79% of millionaires built it themselves. And even when families do create wealth, most don’t keep it.
70% lose wealth by the second generation, and nearly 90% by the third. Creating the bag is one thing...it’s about knowing how to keep it.
What is Generational Wealth?
What is Generational Wealth?
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.
Where's the money?
Where's the money?
The top 1% of households control about 30% of all wealth in the country. To be in that group, you need a net worth of around $13.7 million.
The top 10% starts at roughly $1.56 million in net worth. Meanwhile, the median U.S. household (50th percentile) has a net worth of about $162,000.
