Generational wealth is wealth passed down from one generation to another. While this isn’t the norm for those of us who weren’t born into a family amongst the 1%, it doesn’t mean a wealthy family can’t start with you!
The Economic Policy Institute reports a family needs an income of $421,926 to be in the top 1 percent of U.S. earners. This may seem unattainable, but if you start saving a dollar a day into a brokerage account that then invests the saved money into the S&P index fund for each of your children, they could easily be a millionaire before they retire.
If each generation invests into the next generation it is through the accumulation of assets that you can close the gap and ensure not only financial security but generation wealth.