Shaping your family’s financial legacy

In this episode of PennyWise, host Nat Cardona is joined by NerdWallets financial writer Elizabeth Ayoola to explain the concept of generational wealth and help you build your own legacy of financial prosperity. From defining what generational wealth means to you to how to take the first steps toward investing, this episode is a source of actionable advice.

Elizabeth explains the process of building wealth, emphasizing the importance of education, setting clear goals, and developing a customized strategy. Whether you’re a passive investor who prefers to “set it up and forget it,” or someone who wants to get more actively involved, this episode covers a variety of investment options, including the convenience and innovation of robo-advisors.

Consistency is key, and despite the challenges of the current economy, Elizabeth emphasizes the power of compound interest and the need for time to allow your investments to thrive. Additionally, the discussion delves into the critical role of estate planning in ensuring your hard-earned wealth serves your intended purpose for future generations.

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PennyWise wants to remind you that creating generational wealth is a marathon, not a sprint, and that every small step is a step toward financial freedom for your descendants. Tune in for an episode that could mark the beginning of your family’s financial legacy.