Trees take a fairly long time to become useful. Even those that grow fast, can take a decade before there is enough shade to sit beneath it. If you have shade, it’s likely that someone planted a tree a long time before you were there.
In the current social media age, we only have access to people’s life highlights and successes and in some cases, it may seem like wealth and riches can come overnight. Although some are lucky to have made the right moves at the right times, this is unlikely to be the norm. The truth is that in the same way a tree generates shade, building wealth and assets takes time.
And in the same way planting a tree benefits any future generations, so does spending time on wealth. Not only is it about sustaining a long-term investment, but about keeping it thriving to create generational wealth.
Investing isn’t typically a “get rich quick” tactic you can do for a short period of time and expect to make a significant amount of money. It’s often a long-term process that requires patience, commitment, and keeping calm when the market fluctuates, as it inevitably will. However, you don’t need an investing degree to understand it all, especially with Tavistock Investments’ new app, i-stock, which aims to act as a guide with an easy and accessible investment process.
It’s also important that you plant your tree in the right place. Do you know what you want to achieve and who you want to benefit from it?
For most of us, long-term financial thinking involves saving for our children as they grow up, for our retirement, or perhaps even for our grandchildren. Making sure they’ve got enough shade to be protected in their future.
However, it is becoming apparent that generation-on-generation progress across both incomes and homeownership rates are falling in the UK, with 70% of wealthy families losing their wealth by the second generation and 90% by the third.*
There are a variety of reasons why this happens, however the main reasons are often:
- Older generations are taught not to talk about money
- Many new generations don’t know the value of money or how to handle it
It could be that parents find it difficult to broach the subject of wealth, and what happens when they’re gone, with their children. Whatever the reasons, the failure to discuss it could lead to unnecessary taxes and costly estate fees when the time does come.** i-stock want to get this conversation flowing (our blog “Money Talk: Taboo no more with i-stock“ goes into much more detail on this).
Wealth may also be approached as a short-term process – perhaps many generations making do with quick methods and solutions to help present the success expected from social media. And it’s understandable why. The idea of dedicating a significant amount of time to something we may not see the results of can be daunting, but a long-term investment doesn’t have to be a huge chunk of your time or pay check.
With i-stock, the process of investing runs alongside everyday life. The app aims to present a revolutionary way to invest with access to a fund that can secure 90% of your investment’s highest ever value. The app also offers 24/7 access, daily monitoring and no-account fees.
We believe everyone has the right to invest meaningfully for their future and their family’s future. If you take action, think longer term and plant that tree, you or your family could enjoy all of the future benefits the shade has to offer.