Wealthyhood’s Post

💰 Are you prepared for the intergenerational wealth transfer! 💰 ⏳ - £5.5 trillion worth of assets will be transferred within families by 2050. 🙍🏻 - Schroders found that 63% of advisers are concerned about losing business. These four simple steps could help you with intergenerational wealth transfer; 1. Involve the whole family in financial planning affairs / meetings 2. Offer services and tools that appeal to different demographics / generations 3. Provide choices for how clients interact with your firm; Paper-based vs Digital 4. Incorporate potential intergenerational transfers in cashflow planning scenarios Read the full article to learn more. 👇🏻 #FinancialAdvice #FinTech #FinancialPlanning #intergenerationalwealthtransfer #intelliflo

Michael Katchen has mixed feelings about the future. On the one hand the co-founder and CEO of Wealthsimple is bullish on AI, the future of his online investment management services platform, and the financial prospects of its young userbase. At the same time Katchen can’t contain his concerns about Canada’s increasingly unaffordable housing market, growing innovation gap and declining productivity. Read more in my interview with Mike Katchen in today's Toronto Star: https://lnkd.in/gpmA9Kfu

The impending wealth transfer from the baby boomer generation is set to reshape the market like never before. As a residential realtor or loan officer, this is your moment to lead the charge. Equip yourself with the skills and insights needed to navigate this monumental shift. Staying ahead means understanding the unique needs and opportunities this generational wealth brings. Embrace the change, seize the potential, and position yourself at the forefront of this emerging market. Your proactive approach today is your success tomorrow. #GenerationalWealthWave #RealEstateLeaders #BabyBoomerMarket #SkillSetEvolution #MarketMastery #StayAhead #RealtorGrowth #thursday

While affordability remains a challenge in today’s housing market, the ongoing Great Wealth Transfer is poised to unlock new opportunities... #greatwealthtransfer #genx #millennials #interestrates #centralvalleyhomesforsale #sanjoaquinvalleyhomesforsale #modestocarealestate #modestorealtor #realestatemarket #modestocarealtestateagent #agtken #homebuyereducation #homebuyer #homeowner #homeseller #homesforsale #economy #homeownershipmatters #homeowners #forsalebyowner #investment #foreclosures #homequity #homeappreciation #forbearance #homeinventory #housingmarket #inflation #realtor #realestateagent #realestateadvice #realestateagency #realestateconsultantforlife #oakdalehomesforsale #riverbankhomesforsale #mantecahomesforsale #sacramentohomesforsale #rosevillehomesforsale

In recent years, there’s been a significant shift in how wealth is distributed among generations, commonly referred to as the Great Wealth Transfer. 💸 Learn More: ⬇️⬇️ https://lnkd.in/gs-gbDRU  #WealthTransfer #FinancialPlanning #GenerationalWealth #WealthManagement

The Great Wealth Transfer Historically, the transfer of wealth from one generation to the next was a more gradual process, often limited to smaller amounts of inheritance or family savings. But today, the scale has increased. As more Baby Boomers retire, sell businesses, or downsize their homes, more assets are being passed down to younger generations. This creates a powerful ripple effect that'll continue over the next few decades. One of the most immediate effects of this wealth transfer is on the housing market. Home affordability has been a concern for many aspiring buyers, especially in high-demand areas. The increase in generational wealth is expected to ease some of these challenges by providing future homeowners with greater financial resources. As assets are passed down through generations, buyers may find themselves in a better position to afford homes. The Great Wealth Transfer won’t just impact housing. It's also going to provide a new avenue for entrepreneurial spirits to fuel economic growth. If someone is looking to start a business, and they're receiving funds like this, that money can be used as the necessary capital to start a new company. This helps the next generation of innovators and business owners bring their ideas to life. Right now, before this occurs would be a good time to evaluate how those funds are going to be transferred. I specialize in making sure that money transfers will be tax-advantaged (potentially tax free) and that they will serve in the best way possible for the next generation. #womensupportingwomen #womeninspiringwomen #womenandwealth #smartmoneystrategist

The Great Wealth Transfer & The Role of Community Banks As we witness the unprecedented Great Wealth Transfer, community banks are at the heart of facilitating this monumental shift. With nearly $80 TRILLION transitioning from Baby Boomers to younger generations, these banks are more than financial institutions; they're vital partners in managing the complexities of wealth transition with a personalized touch. The challenges are many, from navigating tax implications to addressing family dynamics. Yet, it's the unique blend of local knowledge and personal service that positions community banks as invaluable allies in this journey. At BankTech Ventures, we have evaluated a number of innovative companies playing a pivotal role in enhancing the wealth transfer process. Some of these great companies include In an exciting twist, technology is playing a pivotal role in enhancing the wealth transfer process. Innovative platforms like Ribbon, Empathy, Legal Karma, Atticus, and Trust & Will are at the forefront, partnering with community banks to streamline estate planning, offer grief support, and simplify inheritance processes. This work is not just about delivering a high-touch customer experience, it's also a key to community banks' survival longer term. With a relatively older, and rapidly aging, customer base, community banks need innovative strategies to retain these deposits when they're transferred to the next of kin. Technology plays a major role. Read more of my thoughts here: https://lnkd.in/eFnyd28z And, as always, share your thoughts/perspectives in the comments! #communitybanking #wealthmanagement #agingpopulation

I Did The Research On Global Wealth Distribution And You Won't Believe What I Found 😥 [You Know The Phrase, "If You Don't Get It, Forget About It" - I Can't Forget About It...] Now obviously, you can't say you did the research and not quote the source of information, well, this is one of the 50 places I used to source my information: "PewResearch.Org",here's what I found. There are 4 "Income Classes" worldwide: ➡ The Rich/Wealth - 7% of the world's population. ➡ The Upper Middle-Class - 15% of the world's population. ➡ The Middle Middle-Class - 17% of the world's population. ➡ The Lower - Middle-Class - 51% of the world's population. ➡ The Poor - 10% of the world's population. Half of the world's wealth belongs to the "Top 1%" of the world's population, Half! And somewhere on God's green earth, in fact, in most places on God's green earth... We have people, protesting for a measly 10% wage increase - 10% 😨 The same people, spend in less than 3 days what it takes them 31 days to make. They drive cars, live in homes, wear the latest designer clothing and go on holidays they cannot afford, and worst of all... 🤕 They believe they are owners of all they consume, when in truth, these are not, vehicle or home owner, but loan owners. And three defaulted payments on their loan will have the bank repossessing what they though was theirs, but never was. 🚫 The poor stay poor by living like they are rich and the rich stay rich by living like they are poor. I'm not trying to put you down but show you, what's really going down ⬇ More money can't fix poor money management! 💡 You and I must change our beliefs and behaviors around "Money", if we are to bring wealth to our families. P.S. If you're looking to build a profitable online business, with little to no money in 12 weeks max... We're giving 50 people, lifetime access to our entire product ecosystem - 100% Free! Click on over to my profile and sign up for the waiting list, this opportunity is only good until the 15/03/2024. Catch you on the inside. #wealthcreation #businessbuilding #makemoneyonline #entrepreneurship

Hi Nathan, great post! It's crass how our desire for recognition leads us to mismanage money. Living superficially through consumption is easy; many people want to compensate or achieve recognition through consumption. But consuming clothes, cars, and the latest gadgets is like a drug. It only leads to a good feeling for a very short time, and then comes the disillusionment. It's a shame that we don't learn the fundamental rules of the money game at school. And we also need to learn how to satisfy our need for recognition skillfully. But perhaps this is also our task, which we must learn to master throughout our lives. What are your thoughts on this? Let's start an open exchange about this crucial topic. #moneymanagement #recognitionmatters #livelonglearning #stopconsuming

Millennials are the first UK 30-somethings to earn less than past generations. So prioritising personal wealth is more important than ever! 🤑 🤗 This week we are joined by Samantha Rosenberg, co-founder of Belong, the platform helping young people grow and prioritise their personal wealth! The complaints from young people across the UK, as well as other nations, about affordability and buying a house are true, and Millennials and Gen Z need support to grow their savings and tech can make this a possibility! 😁 Read more about Belong and why they started here and check out this weeks episode to hear more and about why companies like this are so important to supporting our young generations! 👇🏼 https://lnkd.in/egRN2tQW https://lnkd.in/eM9_nK2V David Savage Belong Harvey Nash Crimson #personalwealth #fintech #costofliving #savings #investment