How to Make Your Wealth Last for Generations
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.
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