Generational wealth is often cited as an advantage to help people get ahead, whether it’s a home, business, or investment assets passed down. But did you know 7 in 10 families lose their wealth within one generation, and 9 in 10 families lose their wealth within two?
Retirement plans offer great benefits, but they are not created equal. Until the 1980s, most employees could count on “defined benefit” (DB) pensions. That all changed with the advent of the 401(k) and other “defined contribution” (DC) plans.