How do you define a wealthy person? How do you define someone in the middle class? How do you define someone in the lower economic class?
Chances are, you might say that the wealthy person has a certain amount of money in the bank.
The middle class person has a smaller amount in the bank.
While the personal at the lower economic class has even less or none at all in the bank.
But what if I told you that those in the middle class economic bracket had more in common with a poor person than a rich person?
Would that make you angry?
And what if I told you that I defined those classes differently than most people… and that my definition could completely change the game for people of any economic class to enjoy some of the same benefits that the wealthiest people could enjoy.
Would that surprise you?
I don’t blame you if you would be skeptical…
You see, most people define the three big economic classes by a dollar figure in the bank (or net worth).
But I believe there is a totally different way to define the economic classes that most people are overlooking… but when you consider this, the truth is shocking (and may make you happy – or – angry).
I believe that the wealthiest people are not necessarily those that have the most money in their bank account. Sure, that could be part of it but I believe the truly wealthy people have generational wealth that they can pass on from one generation to the next… to the next… to the next.
Just look at the Forbes list of Richest People for an example: sure you’ll see entrepreneurs on the list who built their own fortunes (Bill Gates, Warren Buffett, and Mark Zuckerberg – just to name a few).
But you’re also going to see families on there, such as the Waltons.
In fact, those “generational wealth” families take up a few spots on the Forbes list. And even though they might be CEOs or entrepreneurs in their own right, they ultimately benefited from generational wealth – money they received from wealthy parents and grandparents before them.
And what about the middle class and lower economic class?
There’s usually little or nothing to pass on… perhaps just a few pieces of jewelry and the modest house that was paid off a few years before retirement.
Often, those who aren’t in the wealthiest class can look at generational wealth with disdain – we might look at someone like Paris Hilton or Rich Kids of Instagram and think that they are spoiled trust fund kids who never had to work for anything in their lives.
That might be true. BUT…
If you had a chance to leave a life-changing amount of money to your kids after you passed away, would you do it?
I’m sure you would. Yes, of course you’d want to make sure that your heirs weren’t going to do something stupid or drive around in a gold-plated convertible because they never learned the value of hard work… but if you had the chance to leave a significant legacy, you’d do it.
Because you’re a parent or grandparent and you want your kids or grandkids to have all the best advantages in life that you might not have had… including a strong financial start in life.
And if that means leaving them some money in your estate to make sure that their needs are taken care of – or to ensure that they can pay for college – then you’d do it.
That’s just what parents do – they want the best for their kids.
Problem is, for most people who don’t have a billion dollar fortune, you might be looking at your own retirement savings and wondering how you’ll make the money last all the way through retirement – never mind what you can pass on to your kids!
Fortunately, this is where turnkey real estate investments can really have a profound effect on your family.
You can acquire turnkey investments and hold them, which can pay for your bills and expenses today, then cover your life and lifestyle through retirement.
And even after you pass away (sorry, it’s going to happen to everyone), you can leave those same cash-flowing assets to your children or grandchildren.
Unlike the Paris Hilton’s of this world, your heirs are not going to go crazy and start doing stupid things because you’re not giving them millions of dollars at a time.
Instead, you’re setting them up with an early advantage in life by giving them an asset that puts a steady flow of cash in their bank account, month after month, without them needing to do anything for it.
Let’s use some really simple math to give an example:
Let’s say that you acquire 10 turnkey investment properties for $30,000 each (a total of $300,000). Let’s say that each property pays $500 a month in rent. During your lifetime, you enjoy $5,000 a month in income from these properties.
This helps to pay off your mortgage faster, maybe allows you to take a vacation every year with your spouse, and maybe you can even retire a few years earlier than planned.
And once you’ve retired, these houses continue to deposit $5,000 a month into your bank account for an easy, carefree retirement… and you don’t have to worry about depleting any savings.
And after you’ve lived a full life and passed on, you can leave these properties in your estate to your grandchildren. If you have 5 grandchildren, each one can get 2 properties, paying a total of $1,000 a month to each of them.
Again, this isn’t “Paris Hilton” level generational wealth… and that’s probably a good thing. But, at the same time, what a profound impact that $1,000 a month might have on your grandkids!
It could significantly ease the financial burden of paying for college, of finding an apartment, of getting a job, of buying a house, and of starting a family of their own.
When we talk about turnkey real estate investments, we often talk about the impact it will have on YOUR life – allowing you to invest in a hands-free, worry-free investment that will allow you to retire sooner…
But I think one of the very best (and most overlooked) benefits is the legacy you can leave behind for your kids, grandkids, and for generations to come – all thanks to the steady, effortless cash-flow from turnkey real estate.
If you want to look at how turnkey investments could be acquired in a way to pass them on from generation to generation, then give our team a call and we can talk about structuring it in a way that makes sense for you, your family, and the vision you have for your legacy.
Generational wealth – it’s not just for the rich people… it’s a strategy that’s available to everyone.
Give us a buzz anytime: 561.408.0880
Your AWB Team