What is generational wealth?... or Spend every penny before you die!
By Nicole Rueth - May 1, 2019
I talk about multi-generational wealth all the time.. but what if you don't have kids nor see yourself ever having kids.. why should you care? Building generational wealth is more about you, your future and your financial legacy. It's what you leave behind.. whether to your family, foundation, or otherwise. You can do this through cash and investments, collectibles, a business you've built or real estate. Of course this is my bailiwick. Real estate allows for the power of leverage, using rental income to pay my debts and an abundance of tax benefits.
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Next week we will talk about the 5 simple steps to getting started in investing in real estate. Knowing that many people don't invest because they don't know how to get started. But this week, I want to wrap up with 3 financial truths that give weight to why real estate is my preferred plan for building multi-generational wealth. 1. the market always goes up.. long term; 2. No one can know for sure when the next downturn will be; and 3. you will always do better by jumping in at the worst time verses staying on the sidelines waiting for the perfect time.
Want to learn more about how to utilize real estate in your investment plan? Give me a call today! We would love to go to work for you.