BiggerPockets Real Estate Podcast

889: How to Build Generational Wealth Without Losing it Along the Way w/Whitney Elkins-Hutten

Feb 8, 2024

Whitney Elkins-Hutten teaches how to build generational wealth without losing it along the way. Topics discussed include the generational wealth-building blueprint, protecting assets through managing personal finances and using insurance, utilizing insurance and saving on taxes, treating real estate investing as a business and utilizing deductions, the impact of fees on retirement accounts, and book recommendations with a discount code.

40:20

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Episode guests

Whitney Elkins-Hutten

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Episode notes

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Quick takeaways

Creating generational wealth involves following a blueprint that ensures financial freedom and impacts future generations.

Understanding and managing the four "horsemen" of wealth erosion - interest, insurance, taxes, and fees - is crucial for preserving wealth.

Deep dives

Creating Generational Wealth and Protecting Your Money

In this podcast episode, Whitney Elkins-Hutton discusses her book 'Money for Tomorrow: How to Build and Protect Generational Wealth'. She emphasizes the importance of creating wealth not just for oneself, but also for future generations. Whitney shares a blueprint for creating and growing wealth through wise investment strategies, scaling portfolios, and protecting assets. She highlights common challenges faced by investors, such as feeling broke despite making good money or being unsure about financial decisions. Whitney's book aims to provide an end-to-end blueprint for both beginner and seasoned investors to build and safeguard their wealth.

Introduction

2min

Money for Tomorrow: Creating and Growing Wealth

7min

Building Generational Wealth and Protecting Assets

7min

Utilizing Insurance and Saving on Taxes

4min

Treating Real Estate Investing as a Business and Utilizing Deductions

7min

The Impact of Fees on Retirement Accounts

12min

Book Recommendations and Discount Code

2min

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!

In This Episode We Cover:

The generational wealth-building blueprint that anyone can follow to find financial freedom

The four “horsemen” that are coming to take your wealth when you’re not looking

Using insurance the right way to guard your health, wealth, and assets

Why you need to stop focusing on making money and START focusing on saving money

How to use the tax code to owe less to the IRS every year

The MASSIVE investment fee that you don’t even notice you’re paying for

How to pass on generational wealth to your children, their children, and beyond

And So Much More!

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