Reply to It’s extremely hard to raise kids in a nice neighborhood without generational wealth

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I hate the term "generational wealth'. I feel like this is all we hear about these days.

Are people done with building their OWN wealth??? [/quote]

I think we hear about it a lot more because hopefully it will encourage more families of all income levels to work on building their wealth.

1.  There are more programs to help families buy a home that they can pass to their next generation. [color=red] Hopefully, people will also build/modify homes to accomodate generational living as well as build  ADUs, helping to conserve wealth for the elderly and the young[/color]
2.  Encouraging life insurance. This will help the next generation keep up with assets.  [color=red] Not just life insurance, but other kinds of insurances too that will protect quality of life. Disability, long term care, term life insurance  etc [/color]
3.  Retirement funding.  You can start with small amounts and keep it going.[color=red]Also teach teens to start Roth for  [/color]
[color=red] 4. College funding.  Start small but contribute regularly before kids are even born. Maximize the education dollars. Go to state schools if majoring in STEM (where school prestige does not matter). Convert unused college funds into Roth for kids if allowed. [/color]
[/quote]

Good points. I added my thoughts in red.[/quote]

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