I was on a webinar that had a strong emphasis on asset protection with a generational wealth protection perspective. This got me looking into what facts I can find on generational wealth.
Not every person who makes millions comes from a family who has money. This statement is based on a 2019 study published by Wealth-X that found that around 68 percent of those with a net worth of $30 million or more made it themselves.
Millionaires who are self-made tend to rely more on equity investments, while those who come from wealth rely on real estate to make the majority of their money.
So, the broker/advisor route may be the way to go, to create wealth. If you believe the results from this study.
But I have clients who are increasing their real estate holdings every chance they can to increase their generations wealth potential. But this is residential, not huge commercial properties.