How To Prepare For The Greatest Wealth Transfer In History

According to Garrett Gunderson, “the greatest wealth transfer in history will take place over the next three years.” Gunderson also stated, now is not the time to blindly hand your money over to Wall Street or bury your head in the sand. Your 401(k) won’t save you in this COVID-19 world.”

Few people are redistributing their wealth, which is creating a wealth gap. This means that your money is likely to end up in the hands of the people that know how to get rich. This may come as a surprise to you, but during the Great Depression, more millionaires were created than at any other time in American history. Despite the fact that one-third of Americans were financially devastated. 

Due to the current pandemic and recession, it is estimated that one-third of Americans have and will be devastated, while one-third will be able to maintain their lifestyles and the other third will get a lot richer.

If you want to be a part of the third that gets richer, you should consider these three things:

1. Prioritize Cashflow and Reinvest

• Plug Leaks 
  • Look to save on taxes, interest, and investment fees, and insurance.
• Know Your Costs

  • Destructive, eliminate those.  

    2- Lifestyle, manage those and pay cash.   

    3- Protective, having cash is part of this as well as asset protection and insurance.  

    4- Productive, these are investments that when you put in a dollar more than a dollar comes back to you.

• Accelerate Investment Income 
• Scale Business Revenue
• Make It Count 

2. Make Sure Your Wealth Is Sustainable 

3. You Can Become Part of The Upper Third 

See Garrett Gunderson, How To Prepare For The Greatest Wealth Transfer In History, Forbes, August 20, 2020.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.