Expanding Generational Wealth

The term build generational wealth is one frequently heard. You can read about it in blog posts or hear it on podcasts. Individuals discuss leaving jobs to create generational wealth. In these conversations, generational wealth comes in the form of purchasing real estate with the hopes of it appreciating in value and then having the ability to sell it and pass the proceeds down or allow other family members to purchase real estate with the funds. There is nothing wrong with this concept, and the ability to own property and generate income to meet financial obligations, including paying off debt, is welcome. But can we expand the term? Do we have room for generational wealth to be the wisdom passed down to us from our elders? Can we offer the same wisdom to those younger than us? My parents have left this earth, and the money from life insurance policies and real estate didn’t produce long-term wealth. Do you know what I did? Their example, their wisdom, and the love they had for me, my brothers, and others are what I remember and attempt to implement. Most of us have forms of generational wealth of this sort in our lives, and it will benefit us all if we look for it. Seek to pass down generational wealth in the form of finances, but also look to pass on the wealth of your wisdom and personal example.