WHAT IS A FIRST & SECOND GENERATION WEALTH BUILDER?
​

First generation wealth builders (FGWBs) and second generation wealth builders (SGWBs) are terms popularized by our Founder and CEO Shatoyia Jones to describe individuals in two different circumstances of building wealth. First generation wealth builders are individuals who have no financial inheritance, no inherited assets and are the first in their family to start and continue the process to building generational wealth in their families. FGWBs are usually starting with a net worth of $0 or even less in some cases and/or are living a paycheck-to-paycheck lifestyle. They are looking to improve their financial situation and leave a legacy for their loved ones.  SGWBs usually have some financial inheritance or some type of inherited assets but don't know how to manage, sustain or grow their inheritance and are looking to learn how to do so.

Which of the 5 Stages of Building Generational Wealth Are You In?

Stage 1: Mindset Shift and Vision Development
​
If you are in Stage 1, you want to start a purpose-driven, successful online business and/or build generational wealth, but you don’t truly believe that you can or that it is possible for you. Does this sound like you? Learn more about wealth builders who are in stage 1, and register for our next mindset shift and vision development masterclass!
Stage 2: Financial Planning and Management
​​
     Once your mindset is primed and prepped to start SUCCESSFULLY and SUSTAINABLY building wealth with a vision to match, it is now time for you to put your mind and vision into a plan of action. Yes, you must manifest in thought and action. Thus, if you are in Stage 2, you believe without a doubt that it is possible for you to become financially literate and build wealth, but you don't know where to or how to start. Does this sound like you? Learn more about wealth builders who are in stage 2 of the wealth building process, and register for our next financial planning and management masterclass to begin managing and saving your money better, creating a budget and repairing financial damage.
Stage 3: Start, Build and Sustain and Online Business
​​​
     Okay, so you have a system that you are implementing to undo financial damage, and you have a solid financial plan in motion for managing and saving your money and preparing for retirement. You have some savings, and your finances are on the up and up. What are your next steps? How do you move forward on your path to building wealth? Though it is not 100% necessary to start a business, We highly recommend our community of first and second generation wealth builders to start an online business. An online business is great to start with little to no capital, there is more room for trial and error and your market is expansive--meaning there is more opportunity to reach the folks who want / need what you are offering. An online business also gives you the best opportunity to think about money in the way that you would truly need to not simply learn to manage and save money well but to expand your mindset even more so that you can learn how to make your money work for you. Does this sound like you? Learn more and register for our next Start, Build and Grow a Business masterclass!
Stage 4: Multiple Streams of Income and Diversification / Portfolio Expansion
​​​​
     At this point, you have a solid financial foundation and plan for growth, as well as 2+ income streams.  Here is what this could look like: 1) repaired finances and credit, 2) a solid financial plan of action to manage and save money, 3) a successful online business where you are earning $30-$60K a year, and 4) other financial assets. Now, it is time to level up again in your financial habits and mindset. It's time to expand your investing portfolio to add additional income streams. This can be another business, a passive income stream or other dividends and capital gains. Does this sound like you? Learn more, and register for our upcoming Multiple Streams of Income masterclass.
Stage 5: Generational Wealth Succession Plan
​​​​​
     By the time you reached this stage, here is what you have accomplished so far: 1) you believed it was possible for you and took action to start your journey, 2) you created a vision / plan for what you wanted to achieve, 3) you worked with a licensed financial advisor or certified financial coach to repair financial damage, 4) you created a financial plan (includes retirement) to manage and save your money better, 5) you created a personal savings and emergency fund, 6) you started a successful online business that makes $30K - $60K per year, 7) you leveled up your mindset on money and wealth 10x, 8) you invested in other financial assets outside of your business, and 9) you created an estate and succession plan. What's left? It's time to pay it forward and teach your community and loved ones what you have learned.

TESTIMONIALS

ATTENTION: Financial Services Professionals, Business Management & Development Professionals and Investing / Wealth Building Professionals

     Do You Have a Program On Financial Planning and Management, Business Management / Development& Entrepreneurship or Investing / Wealth Building / Estate Planning that you would like to get featured in our academy and shared with our community?

We Are Now Hiring!


​First Ladies of Poverty Foundation is recruiting for educational consultants. Join our team as an educational consultant to make a positive impact in your community by connecting them to our resources and programs, while earning extra income. This role is fulfilling work with generous pay and support. Training included; no experience necessary.

​To learn more, sign up for an upcoming information session to learn more about the role, responsibilities and compensation. Also, sign up to ask any questions you may have about the position!

Not Sure Where to Start?

Do you have questions or concerns? Not sure which program is right for you? Do you want to speak with one of our educational consultants to learn more about our organization, our programs, resources, services and which one is right for you? Schedule your virtual appointment today!
Our Locations
Make An Appointment
Get Your Welcome Gift
Join Our Community
​Careers: Join Our Team
​FLP Tour 2021
Advertise with Us
Partner with Us
​Sponsor a Program
Financial Planning & Wealth Building
Business Management & Development
Investing & Wealth Building
Financial & Business Services
FLP Book Store / Book Club
FLP Shop
FLP Funding Program
Minority Business Grant
​Financial Aid Program
FLP TV: Watch Our Latest Episode
View Our Quarterly Impact Report​

​© 2019-2021 First Ladies of Poverty Foundation. ALL RIGHTS RESERVED.