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

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 8 February 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

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! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Join BiggerPockets for FREE Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Expand Your Investing Knowledge With the BiggerPockets Books Be a Guest on the BiggerPockets Podcast Ask David Your Question David's BiggerPockets Profile David's Instagram Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's X/Twitter Rob's YouTube Grab Your Copy of “Money for Tomorrow” Hear Our Last Episode with Whitney Grab the CASHFLOW For Kids Board Game Books Mentioned in the Show Pillars of Wealth by David Greene The Richest Man in Babylon by George S. Clason Tax-Free Wealth by Tom Wheelwright Connect with Whitney: Whitney's BiggerPockets Profile Whitney's Website Whitney's LinkedIn Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-889 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast Show 8-89er.
0:04.4	What's going on? This is David Green, your host of the BiggerPockets Real Estate
0:07.8	podcast joined today by the Handsome, talented, successful, and incredibly wealthy
0:12.1	co-host.
0:13.2	Rob Abisolo and we have cooked up a great show for you all today.
0:17.1	Wealthy and quaff hair, listen, I'm in my head today because I don't know if I wore this shirt on the last
0:25.0	podcast that we did and I only have like three or four and I try to cycle them out
0:29.3	so it may look to anyone watching on YouTube that I'm wearing the same shirt for like the last month
0:34.0	insecure much a little bit my goodness this is why I introduced you as incredibly
0:38.4	wealthy so people would just assume you're like Mark Zuckerberg and you wear the same
0:41.4	shirt every day not wealthy confidence, but you know what?
0:44.9	I am wealthy in an amazing podcast show that we're going to have today.
0:48.8	We're actually bringing on Whitney Elkins Hutton, and she's going to be talking about how to create generational
0:53.8	wealth that lasts and the biggest levers that you can pull to stop losing money
0:58.2	while you're building wealth through real estate. That's right so many
1:01.3	investors get into real estate because they have this drive to build wealth but not just burn themselves
1:05.8	But to create generational wealth for the others in their family and the good news is even if you don't have a family even if you're brand new to investing
1:13.2	Whitney's advice is still going to help you build wealth smarter and faster.
1:17.2	And listeners may remember Whitney from episode 340, which resonated a lot with investors,
1:22.4	and now she's written a book.
1:24.0	It's called Money for Tomorrow, How to Build and Protect Generational Wealth,
1:28.0	and you can actually pick up a copy over at bigger pockets.com
	...

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