GENERATIONAL WEALTH

Generational wealth is best defined as assets being accumulated to build financial security within one generation to be financially taught to the next generation.  Asset accumulation are items including savings accounts, retirement accounts, stocks/bonds/mutual funds, homes, businesses, and other real property.  These are considered tangible items, however generational wealth also includes properly teaching the concepts of building and maintaining the wealth worked so hard for.  

Unfortunately, the harsh reality of passing down financial instability and financial illiteracy has become all to common of a reality among American families.  The gap between the working poor and the wealthy seems so large that there will not be an opportunity for any generation to recover.  Some of the sobering statistics include:

58 percent of Americans 18+ have a credit score of less than 720, of which approximately 27 percent (87 million) have a deep subprime (580 and below) credit score 

59 percent of Americans have a life insurance policy, however less than half have the proper amount of coverage to even take care of the final expenses

Most families believe that financial advisors and planners are only for those that are wealthy and can manage their own finances

More than 70 percent of American families do not have a living will, power of attorney, or living trust in place upon being unable to make decisions once incapacitated

Less than 1/3 of American families are saving for any type of retirement and are having to work later in life only to make ends meet

Vision Strategic Financial Group aims to change the way not only families think about the financial planning process but allow families to have a financial advisor at more than half the cost of a large firm's advisory program.  With our Vision to Legacy Project, we challenge and push our clients to think and act on their Vision through a set of specific strategies designed to build the family's legacy through at least two generations.

Get started with us today by clicking on the "Let's Chat" button at the right or contact us by phone or text to (888) 847-6734 to schedule an appointment today.