America is in the midst of the greatest wealth transfer in history. Over the next decade, an estimated $80 to $100 trillion will pass from baby boomers to their children and grandchildren. But one critical question remains: Will their heirs be ready for it?
A 2023 study by AMG National found that 90 percent of inherited wealth disappears by the third generation. That sobering statistic is leading more families to ask: How do we build wealth that actually lasts?
Financial advisor and author John Nebeker believes the answer lies in adopting a strategy used by some of America’s wealthiest dynasties: the Family Bank. In his book The Family Bank: The Key to Generational Wealth, Nebeker shares how families like the Rockefellers used this approach to grow wealth while preparing future generations to be responsible stewards, not entitled heirs.
Here are five key tips from Nebeker for building real generational wealth.
1. Rethink Your Estate Plan
Traditional estate plans often fall short. They might protect your money from external threats, but they rarely account for internal ones, like mismanagement, entitlement, or family disputes.
Due
Author
In-depth retirement research, guides, product reviews, and news.