How to protect your family’s wealth


How to protect your family’s wealth

So, you’ve put a financial plan in place to grow your wealth, what now? The trickiest part of growing wealth is keeping it. So how do the wealthy

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So, you’ve put a financial plan in place to grow your wealth, what now?

The trickiest part of growing wealth is keeping it. So how do the wealthy stay rich?

Today we’re discussing three ways to protect your family’s capital for you and future generations to enjoy.

Invest in real estate

Real estate is a time-tested and proven way to protect generational wealth. Whether it’s land, housing, fishing rights, or industrial properties, buying up real estate is great for providing your family with asset wealth and hedging against inflation. By renting out real estate, you can easily create a second income stream for the family, which is well suited to generational wealth transfers. There will always be demand for this type of asset, and therefore it is not only resistant to economic turmoil but can also be used by the family if things did take an unfortunate turn.

Investing in real estate can start off small, too. Rent out a few apartments or properties and eventually building up a property catalog to create several new income streams.

Buy precious metals

Precious metals like gold and silver are one way to store wealth for hundreds – if not thousands of years. Gold is seen as hugely valuable anywhere in the world and maintains its value in all currencies.

The market for precious metals is typically quite predictable and stable, so gold can retain its purchasing power even in times of economic crisis.

While it’s common to store money in gold bars, nuggets are often more valuable. Nuggets are the gold in its natural form, so each piece is unique and beautiful. They are usually worth more than their actual gold content for investors and collectors alike. If you’re considering investing in gold to protect your wealth, try for one-of-a-kind pieces to fit varying budgets.

Buy collectible items

Collectible items, such as antique furniture, art, watches, or cars, are ways to invest in the future and protect your wealth. A collectible is either value currently or has a speculative higher value in the future.

Typically, wealthy families choose collectibles that already have a high value – such as wines, authentic rugs, and artwork – because they aim to keep their wealth rather than grow it. Watches are a particularly great investment as high brands – such as Omega and Rolex – retain value and can be inherited by several members of the family. 

Collectibles that can provide personal enjoyment and hedge against inflation are favorite options for wealthy families. Besides, why buy something without the ability to enjoy it? Buying shares is one way to invest your money, but buying a vintage car is something the whole family can enjoy.

Investing in assets – be that property, precious metals, or collections – is a great way of protecting wealth from inflation, as well as retaining it for future generations to enjoy. The above assets all either retain value or appreciate over time, so they are the perfect inheritance to gift the family while also getting to enjoy yourself. If you are looking to protect your wealth, make sure to contact a financial advisor to help you understand your options.