From Yahoo Finance: 2025-05-11 09:45:00

Teaching financial literacy and healthy money habits early is crucial for passing down generational wealth. Experts recommend practical lessons like budgeting, saving, and understanding credit to instill financial discipline in children. It’s not just about money, but also about values and mindset around risk, reward, and responsibility.

Legacy planning involves more than just tax strategies and trust structures. It’s about nurturing values and vision behind wealth, encouraging entrepreneurial thinking, and creating open discussions about financial situations and philanthropy. Structuring estate plans with family mission statements and charitable giving can help preserve and increase wealth for future generations.

To build a lasting legacy, define your family’s impact by investing in people, communities, and causes aligned with your values. Generosity, intentionality, and alignment of core values can help multiply wealth for the benefit of future generations. Consider seeking expert advice and making smart moves today to build a strong financial legacy.



Read more at Yahoo Finance: 7 Financial Lessons To Teach Your Kids if You Want To Leave Legacy Wealth