#8 - How To Create Generational Wealth For Your Family Her Money Revolution podcast

#8 - How To Create Generational Wealth For Your Family

17h ago 42:24

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Sisällön tarjoaa Angela Brooks, CFP® and Angela Brooks. Angela Brooks, CFP® and Angela Brooks tai sen podcast-alustan kumppani lataa ja toimittaa kaiken podcast-sisällön, mukaan lukien jaksot, grafiikat ja podcast-kuvaukset. Jos uskot jonkun käyttävän tekijänoikeudella suojattua teostasi ilman lupaasi, voit seurata tässä https://fi.player.fm/legal kuvattua prosessia.

Grab your free copy of the Value Spending Plan: https://www.hermoneyrevolution.com/resources

In this episode of Her Money Revolution, Angela Brooks, CFP®, dives into the essentials of building and preserving generational wealth. Angela introduces her RISE framework—Real Estate Investment, Investing In The Stock Market, Starting and Growing a Business, and Education Planning—as key strategies for accumulating and sustaining wealth across generations. She highlights the importance of financial education and emphasizes the role of parents as positive financial role models.

Angela also underscores the value of teaching children financial literacy, advocating for open conversations about money, involving them in financial planning, and fostering an abundance mindset. By modeling generosity and distinguishing between needs and wants, parents can equip their children with the tools to build lasting wealth and use it for the greater good.

Don’t miss the actionable strategies for securing your family's financial future and ensuring that your wealth serves a meaningful purpose. Tune in now!

What was covered:

(01:06) Importance of generational wealth and passing on financial knowledge.
(02:05) Overview of the acronym "RISE" for building generational wealth) Real Estate, Investing, Starting a Business, and Education.
(03:02) Real Estate: Benefits include property appreciation and rental income.
(04:48) Stock Market: Long-term growth potential and accessibility of investments.
(07:23) Starting and Growing a Business: Opportunities and challenges in family businesses.
(10:59) Education Planning: Importance of saving for education and using 529 plans.
(13:50) Need for financial education for future generations and current lack of financial discussions in families.
(16:42) Teaching Kids About Money: Hands-on experience, role modeling, open conversations, and value of giving.
(21:56) The Importance of modeling good financial habits to your kids through thoughtful purchases and discussions about needs versus wants.
(22:52) How to use intentional language to shift from a scarcity to an abundance mindset and teach value-based decision making.
(23:48) Focus on values rather than financial limitations when denying requests to avoid a scarcity mindset.
(30:28) The Importance of celebrating financial goals with your family to reinforce financial discipline and goal setting.
(31:05) How to model generosity by practicing charitable giving and involving your kids in choosing organizations to support.
(31:49) The Importance of open discussions about finances with your kids to help them understand expenses and savings goals.
(36:11) Why regularly reviewing financial concepts with your kids builds confidence and familiarity with money management.

Connect with Angela:

Website: https://hermoneyrevolution.com/

Instagram: https://www.instagram.com/hermoneyrevolution/

Facebook: https://www.facebook.com/profile.php?id=61561348149519

Financial Resources: https://hermoneyrevolution.com/resources

Mentioned in this episode:

Value Spending Plan

Grab your free copy of the Value Spending Plan: https://www.hermoneyrevolution.com/resources

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Grab your free copy of the Value Spending Plan: https://www.hermoneyrevolution.com/resources

Don’t miss the actionable strategies for securing your family's financial future and ensuring that your wealth serves a meaningful purpose. Tune in now!

What was covered:

(01:06) Importance of generational wealth and passing on financial knowledge.
(02:05) Overview of the acronym "RISE" for building generational wealth) Real Estate, Investing, Starting a Business, and Education.
(03:02) Real Estate: Benefits include property appreciation and rental income.
(04:48) Stock Market: Long-term growth potential and accessibility of investments.
(07:23) Starting and Growing a Business: Opportunities and challenges in family businesses.
(10:59) Education Planning: Importance of saving for education and using 529 plans.
(13:50) Need for financial education for future generations and current lack of financial discussions in families.
(16:42) Teaching Kids About Money: Hands-on experience, role modeling, open conversations, and value of giving.
(21:56) The Importance of modeling good financial habits to your kids through thoughtful purchases and discussions about needs versus wants.
(22:52) How to use intentional language to shift from a scarcity to an abundance mindset and teach value-based decision making.
(23:48) Focus on values rather than financial limitations when denying requests to avoid a scarcity mindset.
(30:28) The Importance of celebrating financial goals with your family to reinforce financial discipline and goal setting.
(31:05) How to model generosity by practicing charitable giving and involving your kids in choosing organizations to support.
(31:49) The Importance of open discussions about finances with your kids to help them understand expenses and savings goals.
(36:11) Why regularly reviewing financial concepts with your kids builds confidence and familiarity with money management.

Connect with Angela:

Website: https://hermoneyrevolution.com/

Instagram: https://www.instagram.com/hermoneyrevolution/

Facebook: https://www.facebook.com/profile.php?id=61561348149519

Financial Resources: https://hermoneyrevolution.com/resources

Mentioned in this episode:

Value Spending Plan

Grab your free copy of the Value Spending Plan: https://www.hermoneyrevolution.com/resources