The Surprisingly Simple Money Habits That Keep Ultra-Wealthy Families Rich for Generations
By diversifying, they are not just protecting their assets; they’re also staying true to their values of prudence, risk management, and long-term growth.
6) Plan for succession
Ultra-wealthy families are always thinking ahead. They understand that wealth preservation doesn’t just involve their lifetime but extends to future generations as well.
They put plans in place to ensure a smooth transition of wealth and assets when the time comes. This involves thoughtful estate planning, creating trusts, and having open conversations about wealth with their children and grandchildren.
