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How to Make Your Wealth Last for Generations Hone your financial literacy and sustain your wealth over time.

By Phil Town

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

In this video, Entrepreneur Network partner Phil Town talks about how to sustain your wealth and create a long-lasting nest egg for your family. In other words, how to build generational wealth. Town notes that wealth does not immediately translate to the next generation. Sometimes, the offspring of wealthy parents simply are not building the skillset to manage their finances wisely.

If you want to build generational wealth, you not only have to build wealth, but you have to learn how to sustain it over time. Town emphasizes, to continue to build wealth, you have to importantly, not lose money.

Ending on a specific takeaway, Town warns that hard times create strong people, strong people create good times, and good times create weak people.

Click the video to hear more.

Related: Top Investment Strategies to Help You Save Money on Taxes

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Phil Town is an Investment Advisor, Hedge Fund Manager, 2x New York Times Best-Selling Author of Rule #1 & Payback Time, and Ex-Grand Canyon River Rafting Guide. Rule #1 Investing is Warren Buffett style investing, teaching you how to buy businesses on sale, with little risk and 15 percent returns. In fact, Rule #1 investing is practically immune to the ups and downs of the stock market.

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