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  • Writer's pictureTy Montgomery

Take the Leap: How to Start Growing Generational Wealth


Ty Montgomery, build generational wealth, black man role models

When I think honestly about building generational wealth I can see one thing held me back the longest: the fear of getting started. My own lack of education around the subject and the perception that it was too far out of reach kept me from taking any substantial leap when it came to leveraging my finances for the future, but I want people who may not have grown up with an understanding of money to realize that there is a seat at the table for you. 


I get it. I know what you’re thinking. Some of you might say, “It’s easy for you. You played in the NFL. You got a head start and won the lottery.” However, I can tell you firsthand that money is spent way faster than it’s made. Growing generational wealth doesn’t just happen because you have money. Growing generational wealth happens because you shift your mindset. The fear of losing money can still be present when you have money – sometimes even more so when you have a lot of it. Seeing that money come in can be a distraction, one that keeps you from growing it because you’re either holding onto it so tightly, not realizing you’re still bleeding, or you spend it thoughtlessly. 


Money is spent much faster than it’s made. Growing generational wealth doesn’t just happen because you have money.

In my own story, I realized that my eyes were my biggest obstacle. What I could see in the natural and what I could see with my spirit was stopping me from taking the leap into more. Think about driving on a busy highway. If you’re not used to driving in a city or on a road with that many lanes of traffic, the thought of crashing can be overwhelming. That singular thought can be so magnified that it inevitably becomes likely to happen. We drive toward what we can see. Pastor Steven Furtik says, “What we magnify, grows.” And that’s the same with our financial future. 


Taking up new wants and new desires won’t be easy at first, but having faith to trust the process of where God is taking you will be worth it in the end.

Nothing changed for me until I began to shift…shift out of fear, and into an awareness of what could be. Three places need to shift so that your awareness of the dangers and potential of money can make way for money to be a tool instead of a captor. Money is a resource we shouldn't be afraid to lose, but instead, something we can learn how to leverage.


Here are 3 steps to overcome your fear of taking the leap on growing generational wealth for your family:


  1. Mind SHIFT. Begin to read scripture regarding how to steward your money. The Bible actually has a lot to say about it. For example, Proverbs 26:15 says, “Lazy people may put their hands in the dish, but they are too tired to lift the food to their mouths.” Luke 9:62 says, “Jesus replied, “No one who puts a hand to the plow and looks back is fit for service in the kingdom of God.” And Matthew 25 recounts a parable of a master giving talents to his servants. One servant hides what he was entrusted with out of fear of losing it, but the other two servants invested and multiplied what they were given. The Bible is not an antiquated resource but was written with us in mind in every era.


  1. Habit SHIFT. Read books on the matter, or download audio books if you’re not a reader. Just start somewhere. If you want to get started you need to close your education gap. Read or listen for 10 minutes a day to exponentially grow your knowledge around money. Prioritize it as part of your morning routine. Treat it as a new goal, similar to that of the gym or your devotions. SHIFT your habits.


  1. Wants SHIFT. Be willing to sacrifice your current wants to align with your future reality. I had to take a look at my wants and needs and honestly ask myself if they aligned. Matthew 5:27-30 goes into your wants and your needs and how if a part of you is keeping you from the destiny God has for you, you need to cut that off at all costs. Often, our wants and needs don’t line up. If what you want causes you to stumble, then you have to shift it. SHIFT your wants. James 1 says, “If any of you lacks wisdom, you should ask God, who gives generously to all without finding fault, and it will be given to you. But when you ask, you must believe and not doubt, because the one who doubts is like a wave of the sea, blown and tossed by the wind.” I’d encourage you to read all of James 1 and let it challenge your faith. Taking up new wants and new desires won’t be easy at first, but having faith to trust the process of where God is taking you will be worth it in the end. I want to be firm in where I’m going, and make the adjustments needed to get there. 



These are just three simple steps to take you from square one to your next phase of building generational wealth. Anyone can do them and I believe that taking the first step is often the hardest. I’ve also included some resources that have helped me and are a great place to start when it comes to reading and listening. 



Books and podcasts to get you started:
  • “Baby Steps Millionaires” by Dave Ramsey

  • The Dave Ramsey Show, Podcast

  • Rich Dad Poor Dad, Podcast

  • “The Holy Grail of Investing” by Christopher Zook

  • “The Psychology of Money” by Morgan Housel



As always, Live Love.

-Ty

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