Is Generational Wealth Just an Unachievable Fantasy
Generational wealth is about creating or acquiring assets that produce enough money to allow the next generation more options to manage, purchase and/or acquire more assets.
In other words, it's about creating a financial legacy that will last for generations.
There are many ways to build generational wealth, but one of the most important things is to start early.
The sooner you begin creating, saving and investing, the more time your money will have to compound and grow.
Another key element is to focus on building long-term wealth, rather than chasing short-term gains.
By taking a long-term perspective, you can make decisions that are in line with your goals and values, rather than being swayed by market fluctuations. Or quitting when times are tough in business.
Finally, it's important to remember that generational wealth is not just about money--it's also about transferring your knowledge, values and wisdom to future generations.
By passing on your hard-earned knowledge, you can help ensure that your family's financial legacy lasts for generations to come.
So, is Generational Wealth an unachievable fantasy? No. Here’s a list of a few families that achieved it in the past decade or so:
Armani, Barcardi, Bean (L.L.), Bryant (Lane), Burberry, Cadillac, Chanel, Chevrolet, Chrysler, Claiborne, Coors, Daimler, Dior, Deere, Dell, Dillard, Dodge, Dolce, Ducati, Dyson, Fendi, Fisher - Price, Ford, Garmin, Getty, Ghirardelli, Gillette, Givenchy, Gordon, Gucci, Guinness, Heinz, Henry & Richard Bloch (Block), Harley & Davidson, Harper & Collins, HASsenfeld BROthers, Heineken, Hennessy, Hershey, Heuer, Hewlett & Packard, Hilton, Honda, Hugo Boss, JC Penny, Jacuzzi, Johnson & Johnson, Jordan, Kellogg, Konami, Kraft, Lacoste, Lamborghini, Lehman, Lipton, Loew(s), Macy, Marriott, Martini, Mattel, Maybach, Maytag, Mazda, McAfee, McDonald, Mercedes, Merriam & Webster, MGM, Moët, Namco, Neiman & Marcus, Nestlé, Newman, Nordstrom, Olds (Oldsmobile), Pfizer, Phillips, Pirelli, Porsche, Pontiac, Prada, Price Waterhouse & Cooper, Proctor & Gamble, Reynolds, Rawlings, Riddell, Rockefeller, Rolls & Royce, Rothman, Saks, Sbarro, Scott, Sears, Sherwin & Williams, Singer, Smith & Wesson, Smucker, Stanley Black & Decker, Stihl, Suzuki, Swarovski, Tesla, Tiffany, Toyoda (Toyota), Tupper (Tupperware), Umbro (HUMphrey BROthers), Versace, Vuitton, Walton (Wal-Mart), Walgreen, Warner, Westinghouse, Woolworth, Wright, Yves Saint Laurent, Zuckerberg.
If they can achieve it so can you.
“Whatever Your Mind Can Conceive and Believe, It Can Achieve. ”
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