Is Generational Wealth Possible For The 99%? You’d Be Surprised. Here’s Where to Start

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Generational wealth. It sounds so fancy and out of reach, doesn’t it? Like a topic of conversation for the Vanderbilts to chat about over their afternoon tea, not a smart financial strategy for everyday people.

But at its core, generational wealth is something we all can aspire to. It’s about building a more prosperous future and having something to pass on to your children. Whether that’s cash, stocks or property, it doesn’t need to be in a trust fund to make life better for future generations.

Once you realize “generational wealth” isn’t just for descendants of railroad tycoons, you can see it’s something that is totally attainable — and incredibly important — for the rest of us common folk.

Here are a few ways to start a generational-wealth plan for your family.

1. Leave Your Family up to $1M

While life insurance is, in fact, insurance on your life, it is also an important step toward improving your children’s future if something were to happen to you.

With a term life policy, you could leave them $1 million to help them build their lives if you were to die early. And you don’t need to be a millionaire to pass on a million dollars.

We suggest finding a policy through a company like Bestow. Maybe you’ve considered this before, but thought it was only for rich or older people. But we’re hearing that people are getting it for as little as $16 a month.

You can take advantage of Bestow until you’re 54 years old, but the sooner you take care of this, the cheaper it could be.

You don’t even need to leave your house to get a free quote from Bestow — it takes minutes to do this online. Instead of leaving your family with what’s in your checking account and a bucket of worries, they’ll be able to afford the life you’ve always wanted for them.

2. Spend $1 to Own a Piece of Amazon, Google or Other Companies

All this talk of hedge funds in the news might make you think that owning companies or investing in them…

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