BiggerPockets Real Estate Podcast - The 4 Things That Will STOP You From Creating Generational Wealth

Want to learn how to create generational wealth? You know, the type of wealth that your children’s children’s children’s children can rely on. The type of wealth that allows your family to live a life of financial freedom, pursue their passions, and make a real impact on the world without having to sit behind a cubicle or screen all day long? That’s the wealth Whitney Elkins-Hutten is teaching you how to build in today’s episode. After achieving financial independence for herself and her family through real estate, Whitney knew that she didn’t want her knowledge to go to waste. So, she developed a wealth-building blueprint for her daughter, which became her new book, "Money for Tomorrow." In it, Whitney teaches you how to build a wealth legacy that will endure for generations to come and ensure that your descendants won’t gamble or spend away your life’s work. To protect your generational wealth, Whitney walks us through the four financial “horsemen” that will drain your savings, crush you with taxes and fees, and lead you to financial ruin. So, if you want to ensure your wealth is built to last and will be there for generations, stick around for this episode and pick up your copy of "Money for Tomorrow" using code “MFTPOD” for a special discount: https://store.biggerpockets.com/products/money-for-tomorrow?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media ~~~~ Expand Your Investing Knowledge With the BiggerPockets Books: https://store.biggerpockets.com/?utm_source=owned_media ~~~~ Find an Investor-Friendly Agent in Your Area: http://biggerpockets.com/agentmatch ~~~~ Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders ~~~~ Grab Your Copy of “Money for Tomorrow”: https://store.biggerpockets.com/products/money-for-tomorrow?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Other Books Mentioned on Today’s Show: Pillars of Wealth: https://store.biggerpockets.com/products/pillars-of-wealth?utm_source=youtube&utm_medium=description&utm_campaign=none The Richest Man in Babylon: https://store.biggerpockets.com/products/richest-man-in-babylon-biggerpockets-edition?utm_source=youtube&utm_medium=description&utm_campaign=none Tax-Free Wealth: https://www.amazon.com/Tax-Free-Wealth-Permanently-Lowering-Advisors/dp/1937832058 ~~~~ Hear Our Last Episode with Whitney: https://www.biggerpockets.com/blog/biggerpockets-podcast-340-whitney-hutten?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Grab the CASHFLOW For Kids Board Game: https://store.richdad.com/products/cashflow-for-kids ~~~~ Connect with Whitney: BiggerPockets: https://www.biggerpockets.com/users/gimlet?utm_source=youtube&utm_medium=description&utm_campaign=none Website: https://ashwealth.com/ LinkedIn: https://www.linkedin.com/in/whitneyelkinshutten/ ~~~~ Connect with David and Rob on BiggerPockets: David: https://www.biggerpockets.com/users/davidgreene24?utm_source=youtube&utm_medium=description&utm_campaign=none Rob: https://www.biggerpockets.com/users/robuilt?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Connect with Rob (Robuilt): Instagram: https://www.instagram.com/robuilt/ TikTok: https://www.tiktok.com/@robuilto X/Twitter: https://www.twitter.com/robuiltchannel YouTube: https://www.youtube.com/c/Robuilt ~~~~ Follow David and BiggerPockets on Instagram: @davidgreene24 or https://www.instagram.com/davidgreene24/ @biggerpockets or https://www.instagram.com/biggerpockets/ Show notes at: https://link.chtbl.com/BPRE 00:00 Intro 01:36 The Wealth-Building Blueprint 04:18 The Four Horsemen of Losing Money 08:53 CUT Your Expenses 10:25 Use Insurance the RIGHT Way 12:35 Take Advantage of The Tax Code 20:07 Avoid HUGE Investment Fees 26:41 Passing Down Generational Wealth 29:40 You Need MORE Than Financial Freedom 31:47 Grab the Book!