The Institute for Generational Wealth Creation

The Institute for Generational Wealth Creation We are a research and financial literacy institute that seeks to change mindsets and furthers unders We view wealth as more than money.

We are a research and financial literacy institute that furthers understanding of the implications of poverty, inequality and exclusion and their role in gatekeeping economic inclusion and mainstreaming whilst highlighting how assets and wealth building opportunities advance financial freedom and economic mobility at household and community level to the extent of building lasting wealth for future

generations. In collaboration with our research partners, constituency groups, and practitioner organizations, we use a racial equity lens to explore the role that assets play in financial equality and economic security, and unpack the structural and institutional barriers to asset development. We embrace the concept of making generational sacrifices in order to leave a lasting legacy whilst helping to build enduring wealth now and for future generations. To us, wealth is that which gives us agency, adequacy, dignity and value. IGWC uses actionable financial literacy tactics to create generational wealth and prosperity, so that individuals, families and communities reach the pinnacles they strive for. Through research, we interrogate the movement of resources in different communities, what those communities do with those resources,the concepts and principles of wealth building, and most importantly, how to build wealth at every stage in an individuals' life.

17/04/2025

Gloria R. Ndoro-Mkombachoto

01/01/2025

24/06/2024

Generational wealth is not one dimensional. It is multi-faceted. Let us take one asset class - immovable property, as an example.

Option 1
Your parents bequeath to their child 4 townhouses on 1 acre of land, fully rented in their will, unencumbered, with title and valued say for $2 million and rentals of $6000 per month. That is really great.

Option 2
Another set of parents, might leave their only child 50 acres of land in the rural areas, 60 minutes away from a major city, with a homestead, cattle, sheep, goats, ducks and chickens. There are no title deeds but the land is fertile and there is a river running through the property and a prolific borehole irrigating vegetables going to the market fetching $2000 per month. That is equally great too.

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We must never compare these two types of immovable property. They are in two different locations and their legal statuses aren't the same, but they both represent bequeathable generational wealth.

Both properties are generating income at different levels. Maintenance costs for Option 1 are likely to be more expensive than Option 2. There are rates to be paid for Option 1. Option 1 might be required by the authorities to pay a wealth tax, etcetera.

The point is, never look down on Option 2 over Option 1. With discipline, a bit of a brain, razor sharp focus, determination and perseverance, you can multiply or quadruple your fortunes over and above the 2 million dollar mark, with running costs that are minimal.

What I am saying is Option 2 remains as valid as Option 1. Dont be fooled into thinking that it is only urban property with collateral and bequeathable value. Think about it.

I have written about this a lot. We need to think generationally, otherwise as black people, we are doomed.
01/03/2024

I have written about this a lot. We need to think generationally, otherwise as black people, we are doomed.

14/12/2023

FIVE THINGS TO CONSIDER DURING THIS FESTIVE SEASON:

To be honest, every season is a giving season, but it is during the Christmas season that giving and generosity are heightened.

Here are five (5) things to consider during this elevated giving season:

1. Give something to someone and put a smile on their face. If you cannot gift to family and friends, then gift to a Children's home, a church, a school or to any needy person or organization.

2. I come in peace. Be that as it may, I would like you to seriously consider this second point.

When we gift to those closer to home, let us gift them at the level of their appreciation. There is no point in gifting a single malt drinker, a bottle of Red label Johnnie Walker. They will certainly judge you for judging them, that they are worthy of Red label. I am not a connoisseur of whisky, but I am aware that seasoned whisky drinkers, judge whiskies that they are gifted by others. This advice is based on a true story. My late hub never forgave someone whom they were visiting at their home for the first time, who gifted them a red label. He wondered for the rest of his life about it. If he had given the same dude a red label, what would he have thought of him, he wondered. Later, that same person asked the hub to refer him to some connections, for a transaction he wanted to do. The hub, gave this dude the benefit of the doubt and set up everything. But when the hub was trying to reach this dude, the dude never picked up his phone confirming to the hub that this dude was not serious about building a relationship with him. The hub often referred to these kinds of people as time-wasters. Until his death, everyone who approached the hub about this dude, the hub indicated that this dude was not a serious person. The hub knew this dude was serious to others - those he thought impacted his life or business and judged those he thought would not, hence the red label.

So we decided to nickname this dude, red label! The hub never drank that red label. I still have it at home, hidden where the hub stored his whiskies. I have kept it as an exhibit to never judge people and gift them at levels they do not appreciate!!!

The moral of the story is, when you do not know people well enough, please ask them what they appreciate. Do not gift them from your own head, for that gifting can have far reaching implications. That gifting can course ernomous harm and also can lead to feelings of being maliciously misrepresented by the receiver of the gift. Later on, when you behave in a manner that is consistent with the unappreciated gift, their perception of you is cast in stone. Today you might want to access certain contacts and you will have difficulty, because unbeknowst to you, these people know, from their late buddy that you had previously underrated, that, you are that type of person who judges people, based on your first, distorted impessions of them.

3. Stay in your gifting lane. You have no business gifting people you have no relationship with or people who are not stakeholders in your business. For those not in the know, there is a difference between shareholder and stakeholder. Here, I am talking about stakeholders. Stakeholders includes shareholders but not all stakeholders are shareholders. Google it if you want more deal on the differences.

When you gift people who are not stakeholders in your life or business, you run the risk of being accused of misconduct and duplicity.

4. It is wrong on many levels to always be the one thanking the generous givers. Thank you, thank you everyday, to other people should be a shameful thing to do! Gift those who are always gifting you. Surprise and give them a beautiful gift they least expected from you. Always understand that in life, it is great etiquette to return the good that others do for you. You might not do it at the rate they do it unto you, but do it anyway.

I have a friend the same age as the youngest brother, so I consider her a little sister. She has saved me tonnes of money in pet food that she delivers using a truck that she pays for. I can never match her giving capabilities, but recently, the giving spirit consummed me and she was the first person I gifted this Christmas season, with an item I designed and made with some of the most expensive wrought iron flat bar steel, I have ever bought. For your own information folks, that kind of flat bar is hard to come by. It is one of those special products you do not replicate. It is one of its kind and it deserved to be in her fine home. In fact, as I am writing, I have since realized that ALL the stuff from Totem Shumba Lifestyle my wrought iron manufacturing company has ever made for her, are all bespoke, unique and never replicated again. But then again, we tend to do that with our HNWI clientelle.

5. Do not take yourself too seriously this festive season. There are many, in the corridors of FB who are going to be travelling far and wide. If you are like me and are spending Christmas at home, at my mum's place, do not be envious of those travelling. Wish them well. Be happy for them. It is their time. Your time will come. But if it does not, just count your many other blessings, the most important of which is, life. We must never take for granted, the gift of life. You are alive and in good health and this is something worthy of celebration.

On that final note, I would like to wish all those travelling to near and far away destinations, journey mercies. May you have a blast and thoroughly enjoy your holidays.






10/07/2023

"Wealth Creation is first and foremost, a state of mind."

10/07/2023

Nakedness is only allowed once, at birth. Even in death, we're not allowed nakedness. Financial nakedness is the worst. Catch me here this week to discuss this.

05/07/2023

The financial globe is vast like the wide open seas. Financial ships come and go. If you feel like your financial ship has already sailed, do not despair. Stay on the financial dock. Another financial ship will come and take you to financial places you never imagined existed. But there are conditions. You must be willing to travel with an unfamiliar crew and travel mates, taking you on a journey of entrepreneurship, at any level. You must be willing to interrogate the assumptions you hold dear about life. You must be willing to connect with the new and the unusual, inorder to fast tract your adaptation to do stuff you thought you were too big or too small to do. Most importantly, you must be willing to onboard new and disruptive financial ideas, so that as you belatedly prepare for your retirement, you do it whilst enjoying your time and being intentional in creating generation wealth for your loved ones.

I particularly want to share with those who believe that retirement is on the horizon and they are inadequately prepared for it. Stuck and fearful, they now have unreasonable expectations from their adult working children, who I believe, must be given a chance to decide on their financial destinities, without demanding parents crowding out their financial fortunes.

My name is Gloria Ndoro-Mkombachoto. I am starting a new podcast geared at disrupting your minds and mine, inorder to reframe thinking around catching the next financial ship, when you have probably missed the desired one. This series is intended to also enable those from amongst us, believing they still have time and are still far from retirement. It is never too late to teach the top dog in you, new tricks. Meet me here soon.

12/06/2023

"Beware of little expenses. A small leak will sink a great ship" Benjamin Franklin

06/05/2023

Many young people of today understand the real deal. They're building wealth, adopting business models that make them happy NOW. They understand the POWER OF NOW (Read the book).

They have abandoned traditional models that their parents followed. This business of slogging for someone, from a corner office, just does not cut it for them. Waiting to retire at 70, so that you can travel and enjoy life, when body and limb are now in the intensive care, is certainly not their mental model.

I love this young couple. They dance anywhere and everywhere for a living. When I want to smile, I watch their videos. By subscribing, watching and liking their videos, I have joined a community that sustains their livelihood. They are trading time for money when they dance, something I no longer believe in because of its enslavement nature, but once their dance content is published on social media, it makes money for them, whilst they sleep. The till is running, keche, keche, keche, whilst they are busy enjoying life. What this says is, if you know what you're doing on social media, you can easily monetize it. So do not waste valuable time just following others, be a digital creator. The new world economy belongs to creatives, from all hues.

I want to appeal to parents to be open- minded about business models in the new economy. The truth is, as older parents, we might no longer be capable of advising our children on career choices. Richard Branson refers to it as Disruptive Entrepreneurship. If you're unwilling to be disrupted right now, in order to get ahead, trust me, you belong to the fossilized economies of the past.

Address

30 Leslie Drive, Lonehill
Sandton

Opening Hours

Monday 09:00 - 17:00
Tuesday 09:00 - 17:00
Wednesday 09:00 - 17:00
Thursday 09:00 - 17:00
Friday 09:00 - 13:00

Telephone

+27829327388

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