Springfield,United States - September 6, 2022 /NewsNetwork/ —
Announcing the release of its new guide to managing generational wealth, Ridgewood Investments seeks to help New Jersey families safeguard wealth from financial erosion caused by high-risk investments. The guide covers the foundational tenets of financial asset utilization, managing tax strategies, philanthropy, and other aspects of protecting wealth.
To read the guide online and for more information, visit https://ridgewoodinvestments.com/4-tips-manage-generational-wealth.
The newly released guide aims to provide insight into one of the biggest obstacles wealthy families face: preserving their financial legacy as their wealth passes down from one generation to the next.
Financial professionals at Ridgewood Investments explain why many families find it difficult to retain wealth over multiple generations. The team emphasizes the importance of a robust asset management strategy for increasing generational wealth.
Ridgewood Investments highlights four ways to manage and build generational wealth. These measures entail family transparency, documentation, research on trusts, and risk management.
According to the report, an estimated 90% of affluent families lose their wealth by the third generation, with families facing succession challenges and issues regarding the transition of cross-generational wealth.
To help families avoid such pitfalls, the guide recommends that families are transparent with each other and maintain a strong sense of direction and leadership. Families are urged to take into account the tax regulations and judicial systems of the states where their assets are located. Ridgewood Investments stresses the importance of preplanning, particularly in the event of death, and illuminates the advantages of financial professionals and advisors when securing long-term generational wealth.
Trusts are a preferred instrument that families can use to avoid probate court, inheritance taxes, and predatory creditors. This latest guide is in line with Ridgewood Investments’ commitment to providing financial and investment strategies, wealth management, and investment advisory services.
A spokesperson for the company said: “One of our primary goals is to help our clients achieve outstanding long-term investment performance through the application of proven principles based on a sound and timeless investment philosophy.”
Interested parties can find more information by visiting https://ridgewoodinvestments.com
Contact Info:
Name: Kaushal Majmudar
Email: Send Email
Organization: Ridgewood Investments
Address: 623 Morris Ave, Springfield, NJ 07081, United States
Website: https://ridgewoodinvestments.com/
Source: NewsNetwork
Release ID: 89081266
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