We recently held a seminar about building generational wealth. As important as this topic is to community, I would’ve liked to see the room packed. As it is, we will have to rely on “each one teach one” and continue to share the knowledge, planting seeds.
Part of the reason we experience more poverty within our communities is because initially there was the delayed ability to build wealth with a lack of education, substantial income and home ownership. As these opportunities became more readily available, more people struggled from poverty, further reducing opportunities for some people to take advantage of them. Familial wealth was not as common within our communities as it was in others. The result is generally lower net worth for members of our community than in others, still today. We can begin increasing our net worth by any strategy available, however, one of the most efficient ways I’ve found is via real estate investment. It’s not as simple as buying and selling or renting property. You would need a strategy and not only that, as with any investment, the best route is to have varied investment in case one doesn’t end well, you’ll have others still standing. When you begin investing in your community monetarily and socially, you’ll find real change being made. It won’t happen until we begin to build wealth with purpose.