When I wrote Building Generational Wealth, I outlined a system that I think would work well for most people. I have since been asked “how can / should I give more money to my kids or grandkids than what you have outlined?” Synopsis of Building Generational Wealth: For Children: Giving …
I came across a study recently that talked about the average household wealth in the United States, and it was broken down by race. When I started reading it, I thought there might be a small difference between white and black households, MAYBE a 25% difference. What I found when …
In my article Building Generational Wealth I discussed how I plan to contribute $16,000 to my grandchildren at birth in order to give them a huge jump start on wealth building. Using the rule of 72 and an assumed 8% annualized return, $16,000 will become $74,000 at 20, $161,000 at …