Camille Jones, CLU

By Camille Jones

February is Black History month, a month we celebrate our past accomplishments and our future successes in all areas of life. When planning our financial futures, we also need to plan on building generational wealth today and build financial legacies so that the opportunities for our culture to continue to grow remain everlasting.

Generational wealth is defined as passing and building a financial legacy that your future generations can reap the rewards. We all work hard to become financially free in our lifetime, but what about our future generations? Do we want them to have to battle with their finances the way we have or are we also planning on leaving financial legacies that will give them greater opportunities than you had?

To really build wealth, we have to build generational financial success. Generational wealth begins with erasing the “poverty” thinking mindset and replacing it with financial wealth education. We need to start attaching goals and values to the money we earn. To avoid multi-generational poverty, we need to start planning and investing in our future today.

Don’t wait until you are heading into retirement, saving for a home or saving for your child’s education to take advantage of the opportunities to change your financial future. There are a variety of options to invest in that can shape our future generations. Investing should start as soon as you are earning more than $3,500 a year. When you are 18yrs old, you have the opportunity to invest in a Tax-free savings account. One can use this account to build tax-free income for their retirement, a down payment on a home, leaving a legacy, the options are endless, and best part is, the income earned in this account is tax-free. How about investing in your community programs or businesses? We all can make a difference in our financial futures, but it starts with what we do today!

Protecting Generational Wealth

To ensure that the money you are investing remains invested and is not interrupted by any unforeseen deaths or illnesses, you need to invest in a private insurance protection plan. Don’t just rely on your employer’s benefits to protect you and your family, take action into your own hands. Remember, in order to take advantage of your employer’s benefits, you need to ensure that you have a sudden death or illness while employed with them!

There are now options for children to have life and critical illness insurance that not only protects their health, but also has a cash return and investment component at a lower cost.

Do not let an unforeseen illness or death take your legacy away. Protect and invest today.

Camille will be presenting investment options at 156 Duncan Mill rd, Toronto from 2pm-4pm on Sunday February 20^th, as well as, on February 21 and 23 at the Gallery Studio Café, 2877 Lakeshore blvd W 5pm-9pm. Please RSVP at 647-856-8048

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