DataDrivenInvestor: Use These 5 Simple Ways to Build Generational Wealth

There are many roads to successfully investing. There are just as many dead-ends. It’s important for investors to find an approach that works for them.

Some may enjoy swinging for the fences on a trade. Others may prefer slow-and-steady wealth. For those looking to grow generational wealth, the strategies may not need to change too much. But the focus needs to move towards the long-term. Thinking generationally can create an improved investment approach.

First, for most investors, investing comes down to stock ownership. That’s simply a fractional ownership stake in a business.

From there, it may make sense for those thinking generationally to start or acquire a business outright.

That’s because owning 100% of a business can lead to more control. That includes board member positions, the payment of dividends, and other tools for wealth.

Another strategy is to invest in real estate. The up-front costs are expensive. And taking out a mortgage can mean a property has debt against it for a long time.

But over time, the debt is paid off. And the property is likely worth significantly more.

Minimizing the impact of taxes and inheritance can also play a key role in building generational wealth. Taking advantage of tax-deferred investment tools can significantly increase wealth over a generation and beyond.

To view the full list of ways to build generational wealth, click here.