Creating Generational Wealth | Dental Management Consultant

Dental Speaker


The term “generational wealth” refers to assets or property that are passed down from one generation to the next. Generally speaking, generational wealth takes a variety of forms. It may be a fund used to pay for a child’s college education, or a trust fund that provides protection in the event of a financial emergency. There is no doubt that generational wealth represents a lasting legacy of support. The ability to leave a legacy to one’s family or loved ones is something that everyone hopes to be able to accomplish. 

The Importance of Generational Wealth

There is nothing more meaningful than leaving a legacy of wealth to future generations. Those who have access to generational wealth have a material financial advantage. By leaving generational wealth to your children, grandchildren, or other loved ones, you are fundamentally giving them opportunity. The way they use that opportunity is, of course, not completely within your control. 

Nevertheless, you can help your loved ones grow, thrive, and fulfill their potential. Whether to attend the school of their dreams, to start a business without taking out a massive loan or selling off any equity, or to pursue a meaningful career that may not pay as much, generational wealth offers freedom.

Even great fortunes deploy over time.

It is certainly not easy to create generational wealth. If you were suddenly gifted a significant sum of money, how much would you have left after five years? How about 10 years, 20 years, or 50 years? Obviously, it depends entirely on what you do with the assets. Even if you are very careful and responsible, spending money will slowly deplete your financial resources. According to a recent study, 70% of families lose their capital within one generation and 90% within two.

You can create generational wealth by building your own business.

It is difficult to build something that lasts for multiple generations. Building a successful business is the most effective way to build enduring generational wealth. A great business produces income. It is a renewable resource that keeps bringing gains. In the course of time, a small business can grow into a company that supports a family for many years to come. 

Well-diversified assets provide protection.

Investing in a diversified portfolio of safe, secure assets is another way to build generational wealth. The world’s greatest investors recommend that investors carefully consider their holdings in light of their objectives, time horizons, and risk tolerance. Real estate, stocks, and bonds have long been proven to be effective investments for building wealth. 

We are proud to have a team of dental consultants who are skilled, result-oriented advocates for our clients. Please do not hesitate to contact us if you have any questions about starting or growing your business. To learn more about our dental consulting services, please contact us today.

Theresa F. Narantic, Inc
Phone: (855) 929-2555

Contact Us

Dental Consultant in Illinois

Dental Consultant Blog

Illinois Dental Consultant

Converting New Patient Calls during an Economic Downturn

March 23, 2020

By Beth Gaddis A lot of people are worried these days. That’s normal. The crazy stock market. Coronavirus. Travel changes. There’s a lot going on in the world. And let’s face it: that may mean fewer people will want, or...

The Pro’s Checklist to Selling A Dental Practice|Dental Consultant

December 17, 2019

As a Dental Consultant and Business Owner for over 16 years, nothing scares me more than a dental practice without a transition plan. So, when a new client informs me they have never even thought about selling their practice and...

Dental Consultant | Windows 7 is Dying––Is your practice prepared?

November 12, 2019

If you haven’t heard by now that support for Windows 7 is ending, you’ve likely been living under a rock. But, just in case that rock has sheltered you from being aware of the dangers that loom, here’s a quick...

Achieve More by Embracing Organization | Dental Consulting

April 15, 2024

In the realm of dental practice, time is undeniably a precious commodity. The efficient management of time can significantly influence the economic prosperity and overall success of your practice. Conversely, disorganization and chaos can hinder productivity, ultimately impacting your practice's...

Strategic Steps for Dental Equipment Investments: A Comprehensive Guide | Dental Office Consulting

April 1, 2024

When it comes to enhancing the efficiency and success of your dental practice, investing in the right dental equipment is crucial. As technology evolves and the needs of your practice change, strategic decision-making becomes even more essential. Here are some...