Transcript:
This is money talks with Chad Olivier, sponsored by Olivier Group.
Hi. I’m Chad Olivier, certified financial planner and CEO of Olivier Group. Today, let’s discuss generational wealth. Financial assets like cash, investments, real estate, and businesses pass from one generation to the next. Generational wealth helps families break negative cycles and build a foundation for success.
Benefits include financial security, education, wellness, and philanthropic legacies.
However, challenges like ensuring your heirs are financially prepared and avoiding the third generational curse requires planning. Consider these strategies.Number one, have open communications with the heirs. Number two, careful tax planning. Number three, strategic gifting and inheritance planning. Remember, seventy percent of wealth is lost by the second generation and ninety percent by the third.
But with education, conversations, and a solid team of advisors, you can preserve your family’s legacy. Remember to instill in your family that they need to be stewards of the family wealth, and their job is to grow the wealth for the next generation. For more information on generational wealth, visit us at Olivier Group dot com. And that’s why money talks, but planning pays.
This has been money talks with Chad Olivier.
