Their Future is in our Hands

This is what I believe generational wealth truly is. It’s not just about passing down a house or material possessions. Generational wealth isn’t simply inherited; it’s built through intentional actions and education.

It’s having your parents pay for your college so you never have to take out student loans. It’s having your Roth IRA fully funded each year once you start working. It’s having a custodial account opened for you at age two, and using that money to put 35% down on a house when you’re 26. It’s being taught from a young age what interest is, and that, outside of a mortgage debt, it should be avoided whenever possible.

It’s being given savings bonds as a child so that when it’s time to buy your first car, you can pay cash for a reliable vehicle that lasts long enough for you to buy the next one with cash, too. It’s being taught to buy only reliable cars (Honda, Toyota, etc.) and to keep them for at least ten years.

Generational wealth is just as much about mindset and education as it is about money. It starts long before parents pass away. If you want to set your kids up for success, start early. $50,000 won’t make much difference when they’re 55+, but at 18, it can be life-changing. By the time someone who’s benefited from true generational wealth inherits their parents’ assets, they’re already wealthy.

Dear parents, please don’t ask your children to leave home as soon as they turn 18; times have changed. In today’s harsh economy and challenging job market, it’s important to help your children find their footing, especially if you haven’t invested in their future or planned with them from the beginning. Please be kind and supportive during this critical time.

To young adults, my advice is to focus on what truly matters for your future. Work hard and commit to continuous self-improvement by learning new digital skills, upskilling, and embracing AI literacy, as these are increasingly valuable in today’s job market. Please get involved in something meaningful, whether it’s a side business, volunteering, or a creative project. Develop the discipline to save money regularly and spend only on what is necessary. Avoid peer pressure and the temptation to compete with others in ways that can lead to negative choices or financial trouble. True success comes from building a strong foundation, investing in yourself, and making wise decisions that will benefit you and future generations.