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But you want even more than security.
Turning middle-class earnings intogenerational wealthrequires discipline, foresight and expert advice.
With the right strategies, you might start the process of turning todays income into tomorrows lasting wealth.
Here are three tried-and-true ways to build that legacy.
To start, divide your expenses into two categories: fixed and variable.
Fixed expenses include static monthly obligations like rent or mortgage payments, car payments and student loans.
As you look for ways to cut unnecessary spending, identify your short- and long-term financial goals.
Long-term goals might include purchasing a home that can be passed down through generations.
Get Smart About Retirement
Many people are only peripherally aware of their401(k).
Maybe they know they have one, but they dont actively manage it.
To build serious wealth, that has to change.
The tax advantages of these accounts make them excellent wealth-builders.
Your contributions are made with after-tax dollars, meaning you pay taxes on those funds now.
The benefit is, your tax burden stops there.
Properestate planningprotects your heirs, even from their own worst instincts.
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