Generational and household wealth.
A good person leaves an inheritance for their children’s children, (Proverbs 13:22)
Over the past six months I been inundated with information about the displacement of minorities in first world nations and the generational wealth disparities between whites and blacks, unfortunately this cycle is visible with ghetto sand inner cities shantytowns.
The default for past generations are parents to work hard and pass down assets. But, that scenario oftentimes doesn't work among minorities in many cases the family encounter multiple setbacks; death of parents, sickness, divorces and incarnations.
An estimated 70% of
generational wealth doesn’t make it past the second generation, and 90% disappears by the third.
Most parents who started from humble beginnings don’t want their children to experience the same struggles as they did growing up this is where a child's education is of paramount importance.
But finding the right balance is a challenge in building wealth.
Household wealth can be destroyed by drugs, alcoholic addiction, gambling womanising, unemployment and broken dreams.
A dysfunctional family is the biggest challenge to growing generational wealth.
One critic stated that black are worst off when it comes to gaining household wealth, however I must mentioned that after four hundred plus years of slavery black people were dealth a bad hand.
Financial blessings denied is financial growth delayed
Children can suffer and bear the burden of a cycle poverty from bad decisions of parents and grandparents.
"If someone doesn't provide for their own family, and especially for a member of their household, they have denied the faith. They are worse than those who have no faith."
(1 Timothy 5:8)
Making a will.
A will is a written document that speaks for you after you die. It communicates how you want your property and assets to be distributed. It names a guardian for your children, in the case that you pass away before they reach adulthood or are unable to provide for themselves.
A last will and testament lower the potential for family disputes.
A will saves time, money, and stress for your loved ones.
Many parents and grandparents want to leave a positive impact on the world after they pass. And a good way to do this along with prayers living a godly Christian life do a will, it gives peace of mind.
Generational wealth gives our future children and offsprings
confidence, stability and security.
Leaving an inheritance is a good thing according to the Holy Scriptures. Nevertheless we must consistently pray that this cycle of poverty and generational wealth disparity be broken off our children and grandchildren's lives in Jesus name.
Marcel and Jacqueline Bruff 🙏🏾
@walkgoodinchrist.
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