a Maintaining Wealth Through Generations by Sumit Selli | Aug 11, 2022 | Sumit Selli, Wealth Management
A study by the Williams Group found that around 70% of wealthy families lose wealth during the second generation, and about 90% go through the third generation. With these statistics, it’s no wonder people are starting to think about their 몭nancial future. A report released by The Barclays UK Prosperity Map revealed that about a tenth of British adults has a signi몭cant amount of inherited wealth. This means that the number of people who are now millionaires has increased by over 200,000 over the past 몭ve years. Due to the increasing number of wealthy people in the UK, many 몭nancial planners have started focusing on wealth management. They also believe that it’s essential that the super wealthy maintain their wealth through the generations. However, despite the growing number of wealthy individuals, much of this wealth is still not passed down through generations. After working hard for many years, you must protect the 몭nancial wealth accumulated through your hard work. While it may be uncomfortable to talk about these things, it’s important to remember that protecting your 몭nancial assets for the long run is also essential. A comprehensive 몭nancial plan can help ensure that your assets are protected for future generations.