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Second Generation Wealth
Engels
26 b
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Manage and sustain generational wealth.
The advantages that come from inheriting wealth are undeniable. Best case scenario, it provides access to excellent education, safety, comfort, and financial stability. If handled incorrectly, however, such wealth can be detrimental to the inheritor's development, relationship with their benefactor, and the fortune itself. All too often, a child receives their parent's fortune without knowledge of how it was earned or appreciation for its value, and they fail to sustain the wealth for the following generations as a result.
While first generation wealth earners can't entirely control what will happen to their estate once it's in the hands of their successor's, their actions can be a positive influence to help ensure that the money becomes a force for good in the generations that follow. Second Generation Wealth identifies the best practices for properly preparing your children to inherit wealth, manage it responsibly while maintaining their self-worth, and foster a promising family legacy.
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