If you’re worried about not having enough money saved to retire, you certainly aren’t alone.
Creating multiple streams of income can make it easier when it comes to building generational wealth. In fact, the average millionaire has seven streams of income!
While most people have heard about passive and active income, many are unsure of the difference between the two or how to earn passive income.
If an individual’s passive income is big enough, it can free up their time to do other things besides work. And although it may be risky when establishing the mechanism for passive income, it also offers increasing levels of financial security.
So, what is multigenerational wealth?
Generational wealth is basically wealth that is passed down from one generation to the next. You may also hear this called family wealth or legacy wealth.
If you are able to leave something behind for your children or grandchildren then you are contributing to the growth of multigenerational wealth in your family.
How are you going to create mulitgeneration wealth?
I invite you to viisit my website markbmurphy.com to continue the conversation.