This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Create generational wealth the EASY way
Invest $500 a month from conception to retirement age (65), at 12%, and your kid will have close to $120 million saved up. Mind-boggling.
Is this feasible for most people? Yes, but most believe it isn’t.
Why? Most people struggle to save for themselves and do not prioritize investing because they struggle to connect with their future selves. In essence, people live for now instead of thinking ahead.
Doing these 5 things will make it possible for you to save for your child:
Eliminate superfluous expenses (decrease your expenses)
Increase your income
Create a budget
Get a side gig
Downsize
Imagine how different your life and your family’s life would look if you chose long-term benefits over short-term pleasures?
Many people have the opportunity to create generational wealth, but they opt out by delaying a low monthly investment. New parents could even change their financial well-being by investing a little bit every month for themselves.
It’s all within your power to create wealth, but first, you must decide to do what most people don’t do:
Think twice before having more kids if you can’t afford them.
Consistently save and invest your money.
Don’t live an over materialistic lifestyle.
Keep your expenses ridiculously low.
Continually increase your income.
Build passive income streams.
If you can’t save $500 a month for a child, save $100. If you can’t save $100 a month for your child, save $20 a month. Did you know if you save $20 a month for 50 years, you’ll have close to $1,000,000 saved up?
$20. That’s all it would take in addition to educating your child to the point where they start contributing to their investment fund themselves.
Financial freedom is more in reach than you might think – especially if you start early. The earlier you start investing, the less painful it will be to save. I was chatting with a young 20-year-old the other day, conveying how easy it is for them to invest a low amount every month to build a fortune. Youth is a gift. If you didn’t have the advantage of financial knowledge as a youth, bestow that gift upon someone else.
Most people are too overwhelmed financially to get started with their investing journey. Want some advice? Don’t think or get emotional about investing for yourself and your offspring; just get started.
Creating generational wealth starts with you.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.