In a recent survey from Ameriprise Financial, more than three out of four Americans (78%) said they have taken at least one step to build generational wealth1 but what exactly constitutes “generational wealth” – and how can you achieve it?

The most common answer (44%), according to survey respondents, is wealth in excess of $500,000 that’s passed down to loved ones. Depending on your financial situation, half a million dollars may or may not sound like a lot of money. But one thing is clear: no matter how much you intend to one day bestow upon your family and friends, it helps to have a plan.

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