High-net-worth families use strategies like financial education and long-term investing to build wealth.

High-net-worth families are using their wealth to grow an even larger net worth, ensuring they can pass down wealth for generations. Strategies include educating children about finances, investing with a long-term perspective, and employing a team of professionals to manage wealth effectively and create a well-thought-out transfer strategy.

They prioritize financial education, income generation, tax-efficient investing, and disciplined market strategies to sustain wealth over generations. Wealthy families invest consistently with a long-term perspective to diversify, generate passive income, and create opportunities for long-term wealth expansion through alternative investments.

To effectively build generational wealth, families leverage trust structures, life insurance, and strategic gifting to reduce estate taxes and maximize what heirs receive. They use alternative investments to generate passive income and achieve long-term growth once core investment and retirement income needs are met.

Read more at Yahoo Finance: 5 Strategies High-Net-Worth Families Use To Build Generational Wealth