Legacy planning isn’t just for older generations. Engaging every family member helps preserve not just wealth but also essential financial knowledge and habits. However, common mistakes can erode generational wealth in different ways for each generation:

• Baby Boomers: Neglecting long-term care planning can drain retirement savings and create financial strain for younger generations.
• Gen X: Not prioritizing retirement savings can disrupt wealth-building and lead to financial dependence later in life.
• Millennials: Delaying investing means missing out on compound interest and long-term growth opportunities.
• Gen Z: Overusing credit and underestimating its costs can lead to high-interest debt, limiting the ability to save and invest.

Want to See Strategies for Growing Multigenerational Wealth?

Our latest Generational Wealth Strategies whitepaper dives into key approaches for building and protecting family wealth across generations. Click here to read it!

Your Role in the Bigger Picture

Every generation has a part to play in securing a strong financial future. The key is intentional planning and open conversations about financial priorities.

Has a lack of planning ever caused challenges in your family? What would you do differently? Drop a comment below—we’d love to hear your story!