GENERATIONAL WEALTH BEGINS WITH GENERATIONAL KNOWLEDGE®
Securing Tomorrow: The Generational Wealth Model
When it comes to financial well-being, it can be hard to create an action plan to achieve financial well-being if you don’t know precisely what that means. When it comes down to it, financial well-being means something entirely different for everybody.
Whether your current goal is to create an emergency fund or you’re looking to create a retirement plan to keep you afloat as you transition out of work, the goalpost for financial wellness can change for the rest of your life as your lifestyle changes and your needs adapt.
You may think of financial literacy as the first step to financial wellness, but you can’t lump it into one linear process. Achieving financial literacy is a holistic process that can take your entire life. It would be best to have an actionable plan that meets you where you are in your journey.
So, how do you create a plan that walks you through every stage of your life?
The Generational Wealth Model
The Generational Wealth Model empowers you to create a financial game plan that addresses your past, present, and future to help you achieve financial well-being for yourself and generational wealth for future generations.
The Generational Wealth Model meets you where you are while pinpointing the other stages you need to work through to achieve financial success. The best part about this model is that it allows you to take a zoomed-out look at your current situation and see where you need to solidify your foundations to move on to the next stage.
Generally, when people talk about generational wealth, they’re talking about handing down financial assets from one generation to the next so that future generations can benefit from your financial well-being.
While this is a giant portion of the idea behind generational wealth, financial assets are only a part of the equation. You also want to pass down the financial knowledge you establish throughout your life so that your descendants can benefit from your financial mistakes, successes, and the education you have gained during your journey.
Generational Wealth Begins With Generational Knowledge™
When you think about your financial well-being, you usually look at generational wealth as the carrot at the end of the stick. You strive towards it, hoping that one day your efforts will pay off and you can secure generational wealth like a trophy at the end of the race. The problem is that generational wealth is on this pedestal, like some abstract idea you don’t know precisely how to achieve.
That’s where The Generational Wealth Model changes the game. The Generational Wealth Model serves as a roadmap with a clear path to help you reach your end goal – accumulating assets and knowledge you can pass on to future generations.
How Does The Generational Wealth Model Work?
When you look at the typical financial models, they all tend to cater to one demographic. They assume you start with a certain income level, assets, and knowledge passed down throughout the generations. These models take a cookie-cutter approach that can typically only be applied to people fitting specific criteria.
So, what are people who grew up without these things supposed to do to stop this cycle from affecting their kids? How do you create financial well-being for yourself and generational wealth for generations to come?
Creating generational wealth is the best way to break the cycle and reduce the wealth gap between descendants of families with generational wealth and those without. That’s where The Generational Wealth Model comes in.
The Generational Wealth Model works by uncovering the specific behaviors and beliefs that make up your existing money script and reprogramming them to ensure your financial success. It creates a clear path with markers that ensure you address every stage to create your financial footprints and reach the final stage—generational Wealth.
The model walks you through seven stages designed to break down your existing money barriers, which are hidden and generationally willed to us, and give you all the tools you need to achieve financial well-being that can eventually be passed down to future generations.
The Seven Stages of Generational Wealth
Stage 1: Your Internal and External Ecosystem
This first stage helps break down your current money mindset and behaviors by deconstructing the cultures and influences (internal ecosystem), socioeconomic factors, previous education, and environment (external ecosystem) that have created your money story.
Stage 2: Your Financial Genetic Code
Once you progress through Stage 1, it’s time to break down your financial genetic code—the by-product of your internal and external ecosystem. This next stage is about breaking down your underlying financial traumas and anxieties holding you back from creating healthier, more sustainable financial practices.
Stage 3: Financial Healing/Reprogramming Your Financial Genetic Code
In this step, you take the information about your financial genetic code and begin healing. Eventually, you will reprogram your financial genetic code to rewire it for success with the new underlying beliefs and practices aligned with your goals.
Stage 4: Financial Edification
Now that you have successfully reprogrammed your financial genetic code, you can move forward without constantly falling back into your previous financial behaviors. This is where you start to build the foundations of financial literacy and focus on financial inclusivity to become aware of the vehicles available to you to reach financial well-being eventually.
Stage 5: Financial Well-Being
This is where you can enjoy the fruits of your labor from Stage 4. The Financial well-being stage is where you create the systems to achieve financial freedom and ensure that you can absorb financial crises in the future now that you have completed the work to heal from your financial history. Financial well-being looks different for everyone, so this next stage helps you cover the foundations of financial health.
Stage 6: Generational Knowledge
It’s time to begin the planning stage and put the right strategies in place to transfer wealth and achieve generational wealth for future generations through proper financial planning. This stage includes but is not limited to, estate planning, life insurance, and long-term care. These allow us to avoid the probate process after death and move forward to the next stage.
Stage 7: Generational Wealth
You've done it! Once you hit this stage, you have secured generational wealth that you can pass on to your children, and they can pass on to their children. The positive cycle can continue to repeat.
Bottom Line
The Generational Wealth Model empowers you with actionable and practical steps to achieve generational wealth, which may seem like a distant dream to many of us. Through this model, we can break the status quo and make generational wealth accessible to all future generations.
By addressing past and present roadblocks, you can reprogram your behaviors and mindsets to move forward positively. As you walk through the seven stages, you can secure solid financial foundations that build unshakable prosperity that can survive and thrive for generations.
The Generational Wealth Model is crafted for everybody. No matter where you come from and where you’ve been, this model serves as a blueprint to redefine your financial situation, regardless of what boxes you may have been put in.
That is how you create generational wealth.
That is how you change your money scripts.
And that is how we change the world for future generations.
Want to learn more about Dr. Joaquin Wallace and The Generational Wealth Model?
