Heirlooms and Generational Wealth

Jay Z, who was recently crowned Hip Hop’s first billionaire by Forbes, has touched many people not only through his music but through his philanthropy. In Jay Z’s song entitled “The Story of O.J.” he has a verse which states “I can’t wait to give this s*it to my children”. He rapped about how he has amassed wealth via different revenue streams; and how he will pass it down to his children thus contributing to generational wealth.

I know that not everyone has been fortunate enough to receive heirlooms from their parents. I also know not everyone is currently in the position to pass down anything tangible to their kids; life can be hard and sometimes people are just trying to survive with the basic necessities. But words have power and just because a person doesn’t have the financial means to do something today doesn’t mean that it will always be that way.

To piggyback on what Jay Z said in “The Story of O. J.”, financial literacy and financial security is paramount; this should be at the forefront of most of our thoughts. Art work, real estate, stocks and bonds are some tangible ways to amass wealth and contribute to generational wealth.

Fine jewelry is another way to contribute to generational wealth. I think of how Princess Diana left jewelry to her sons Prince Harry and Prince William. They then gave the jewels to their respective wives, Meghan and Kate. I also plan to pass down jewelry in addition to the other heirlooms I noted above. I’ve been blessed to collect some nice pieces which will continue to hold value.  I neither have children nor am I pregnant. However, preparation yields success.