By Germar Reed
Scroll through social media and you’ll see it everywhere: “Generational wealth.” It’s become the mantra of our time, the rallying cry for a future where Black families finally reclaim what was stolen, denied, or never offered to them. I’m all for it; building wealth is essential. But here’s the question no one seems to ask: Who are we leaving it to?
Because if we’re honest, we’re building wealth for children who often lack the structure, values, or support systems to steward it well. We’re chasing assets without addressing the foundation, and a house without a foundation will crumble every time.
It makes little sense to build millions only to turn it over to sons and daughters who have “failed to launch,” or who are repeating cycles of brokenness because we never gave them the blueprint. Wealth is fragile without unity. And unity doesn’t start with bank accounts, it starts with the family.
The Forgotten Institution
There was a time when the Black family was our strongest institution. It was our safety net, our incubator for values, our first school, and our first government. Families functioned like enterprises, with structure, accountability, and purpose. That structure gave us resilience through centuries of challenge.
Today, too many of us are skipping that part. We’re focused on the mechanics of money but neglecting the machinery of legacy. And the truth is this: Generational wealth without generational structure is like water without a vessel. It leaks.
Families That Thrive Act Like Businesses
Businesses survive because they have systems, governance, and shared goals. Families need the same. Here are three ways to start:
- Define Your Family Values
What do you stand for? Faith? Education? Ownership? Loyalty? Put it in writing. Make sure your children know it. These values become the guardrails for every decision your family makes. - Create Family Governance
If we can sit in boardrooms and manage billion-dollar budgets for corporations, we can do the same at home. Start with regular family meetings. Build a council that includes elders and prepares the next generation for leadership. Consider legal tools like trusts, not just to pass money, but to pass structure. - Think in Generations, Not Paychecks
When I plan for my family, I’m not thinking about my lifetime. I’m thinking 100 years ahead. What do I want my great-grandchildren to know? What systems can I put in place today so that our name still means something five generations from now?
Legacy Is a Long Game
I work in data and strategy every day, and one thing I know is this: Long-term success doesn’t happen by accident. It’s planned, measured, and executed with discipline. The same goes for family.
If we want to see a future where generational wealth truly transforms our community, we can’t skip the hard part—the conversations, the planning, the values, the structure. We don’t just need richer individuals; we need stronger families. Because in the end, the family is still the most powerful business we will ever own.
Call to Action:
Start this month. Gather your family. Write down your values. Set a date for your first family meeting. Treat your family with the same intentionality you bring to your career. That’s how you turn money into legacy.
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