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Books that have helped us on our Financial Independence Journey
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The Bogleheads’ Guide to Investing:
The Intelligent Investor:
A Random Walk Down Wall Street:
The Book on Rental Property Investing:
Building Wealth One House at a Time:
Rich Dad Poor Dad:
The Total Money Makeover:
The $100 Startup:
Freakonomics:
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Our Rich Journey – Growing Our $2.5 Million for Generational Wealth – Our 7 Step Guide To Building Generational Wealth: One of the things you want to think about on your FIRE journey is how you want to grow your money to leave to your heirs when you’re gone. This is something that has always been a part of our plan – growing our money (and helping our daughters grow their money) so that we can leave our assets to our daughters when we’re gone (so that they can leave their assets to their kids, with will ultimately go to their grandkids, their great grandkids, and so forth). In other words, we’re growing generational wealth . . . and we’re sharing our steps for growing generational wealth with you! Watch this video to learn the specific steps that you need to take to grow generational wealth!
▸▸▸Check out some of our other videos!
Stock Market Is Crashing, So We’re Buying This NOW (See Our Top Pick):
Oh NO! Interest Rates Are Going Up! | Here’s How to Invest in the Stock Market:
9 Rules We Followed to Become Millionaires in our 30s:
Financial Norms Destroying Your Wealth – We Broke Them to Retire at 39 As Millionaires:
Our Top ETF Investments for Dividend Income and High Returns to Retire Early:
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What you are doing is amazing! 👏👏👏
Love this video, y'all! My daughter is signing up for her electives at school for next year (junior year in high school), and although we talk a lot at home about financial literacy, I was excited to see that she chose (on her own) personal finance for her fall elective.
Also, I would love to see some additional videos from y'all on entrepreneurship, especially the mental piece to get over the hump. This is our hiccup. Our family does a great job of building wealth, despite being a teacher (me) and a nurse (my husband). We are very "service oriented people" and sometimes the entrepreneurship part just seems overwhelming to get started – my brain doesn't seem a natural fit with selling anything – I think I need a way to look at building a business as "serving others". We have a lot of wealth-building hacks in our toolkit but entrepreneurship as building a side hussle still intimidates my husband and me, a lot.
Wisdom is applied knowledge.
Thanks for the great video! Its really eye opening to think about the impact my financial decisions will have on my kids and grandkids one day. One question for ya'll, it seems like the idea of building generational wealth and FIRE are at odds with one another. How do you reconcile the thought of FIRE and losing out on potentially decades of your peak earning years with building wealth to pass on to the next generation?
It is also important who your "generations" marry! Because we all know that a divorce can affect those assets.
So inspirational. Thank you!
What measures are you taking in this times of uncertainty, like the war happening between Ukraine and Russia?
Great video! Will you be encouraging your daughters to get prenups if/when they get married? Also, for property that you own, what if one heir wants to sell it and the other does not? What measures do you put in place to prevent generations from becoming divided? Thank you in advance 🙏
Studies have shown that 70% of generational wealth is gone by the third generation. But, if you teach your kid about wealth, wealth generation and teach your kids to teach their kids.
all of the decisions making now will help the future. it wont be a lot but better than zero!
Thank you for this amazing video and advice. I am a Nigerian mother of two lovely children. Seventeen years ago as a young mom I bought 500 units of first bank shares without any knowledge of what shares are. I just discovered that the shares has yielded less dividend and has even fallen beyond my comprehension. I am confused. Please how can I invest in the index funds you talked about in your videos?.
Appreciate that this general wealth has been discussed.
Indian community has been doing this for many many years. But in the form of real estate & Gold.
What games do you suggest to educate pre-teens about financial literacy?
With due respect, Vanderbilt's son doubled his inheritance and was the richest man in 1885, but within just 100 years later when all the 27 Vanderbilts held a reunion in 1995, none were millionaires. We can educate our kids, but will our kids' kid educate theirs?
Thank you so much!!’ You both are inspiring 😀
You guys have changed my life and the trajectory for my family! Cant wait to meet you guys in Portugal!
Great to know you both beautiful couple and thanks a lot for your important knowledge sharing 👏💐
Hey guys! Love to see you again. I would like to ask you a favour, in my family we want to invest money in order to achieve this generational wealth you talk about, but there is one piece that is still missing. How, once you have already a good ammount of money invested, do you take out the money in order to live? How do you do this? Because I suppose there must be some math to do in order to make sure that when you retrieve some of the money from your investments (maybe by selling some participations from you index funds?) these are not decreasing in value over time, but keeping it or even improving it, I hope that makes sense!
Thanks for this, great video! It's such a balance between teaching kids to build wealth for themselves but also wanting to give them the best head start you can!
Ever heard of, an economic theory, from Shirt sleeves to shirt sleeves.
Every 3rd generation ,will lose, whatever you handed them, and will start ,from a scratch.
You guys are awesome. I have been listening to you guys and finally opened a brokerage account.
Absolutely great! Love how you two go past the buzz words and provide examples.
They gave the black community a step by step guide. It'd proven. It's on us now. No excuses.
Great video – As you say eduction is the key. It would be interesting to get your insight into the timing of passing the baton so to speak. I expect to leave everything to my daughter but hopefully she will be her 40’s and I will be in my late 80’s as an example….. by that time hopefully she will have healthy 401K / retirements account etc…… thought on age for transfer of assets would be good. Thanks for all your fantastic content and insight !!
Excelente!!!
Really good stuff, thank you both for the advice/guidance.