Building generational wealth is a goal that many Filipino families aspire to, yet it often proves to be a fleeting dream.
For numerous reasons, wealth tends to slip away from one generation to the next. The reasons behind this aren’t always clear, but understanding them can help families break the cycle and secure a legacy for their future.
In a new video posted by PGMN, titled “Filipino Wealth: Ginelle Sequitin Reveals Why It Rarely Ever Lasts Beyond One Generation,” licensed financial advisor Ginelle Sequitin unpacks the critical reasons why financial security is so hard to maintain across generations.
Drawing from her extensive experience in financial planning, Ginelle explores the common pitfalls that prevent families from keeping wealth and shares practical steps for overcoming these barriers and building a lasting legacy.
Ginelle explains that wealth retention is often challenged by external and internal factors.
Politically, the Philippines faces significant challenges with corruption, which often hinders economic development and affects lower-income families the most. Natural disasters, such as typhoons and floods, further disrupt financial stability, making it nearly impossible for families to hold on to their wealth across generations.
Additionally, many families lack proper financial planning, which accelerates the loss of wealth during times of crisis.
Ginelle also emphasizes that cultural beliefs and financial habits play a major role in wealth erosion.
Many Filipinos grow up with the mindset that money is the root of all evil, which discourages long-term wealth-building practices.
Instead, spending on consumer goods is prioritized over saving and investing. This consumer-driven mindset, combined with a lack of financial literacy, makes it difficult for families to preserve and grow their wealth.
Moreover, Ginelle highlights the lack of financial education as a barrier to building generational wealth.
Only a small percentage of Filipinos engage in formal financial planning, such as investments or estate planning.
Without the proper knowledge and tools to manage wealth, families risk losing everything due to poor financial decisions or disputes over inheritance.
Ginelle advocates for the importance of financial literacy and taking proactive steps in estate planning to ensure wealth can be passed on to future generations.
Ginelle Sequitin’s message urges Filipino families to take a proactive role in shaping their financial futures.
She emphasizes the importance of making informed financial decisions, from saving and investing to securing long-term goals.
By shifting the mindset toward wealth preservation and making strategic choices today, families can break the cycle of financial hardship and build a foundation of wealth that benefits generations to come.
Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
コメント