Anyone else consumed by dreams of building a financial legacy that allows you to give back to family members who have sacrificed so much for you? You’re not alone, friend. The good thing is that building generational wealth can be more than a dream, it can be a goal. And a career in accounting can help you reach it.
Utilizing the skills and opportunities within the accounting field will allow you to take the first step toward building generational wealth. Accounting skills come in handy in many forms when trying to become financially smarter — from budgeting to improving your problem-solving ability. Duh, right? But one of the most underrated skills is being able to learn about the ebb and flow (aka cycles) of profits and losses in a business. Accounting is the language of business; tracking businesses’ economic activity and performance will allow you to see how they function and work. This, in turn, enables you to make your own financial investments with more confidence. While having gut instinct is great, nothing beats being able to make financial decisions based on expertise and experience.
As an accountant, you’ll spend time evaluating different combinations of assets, liabilities, credit, income, and expenses, looking for the most profitable balance that makes sense for the company's future goals. You can apply the same learnings towards understanding and effectively managing your own finances in order to determine what investments make the most sense for your goals and financial position.
And the cherry on top? A career in accounting also guarantees you the opportunity to be in spaces to learn from the brightest business minds in the game. While attending client meetings to help solve financial dilemmas or thinking about future plans for expansion, don’t forget to absorb a little bit of genius for your own money moves.
The best part of all these skills you acquire is that you’re not only sowing these seeds of success for yourself, but for your whole community. While it’s great to be able to provide for your family members, you’re doing them an even greater service by teaching them how they can do it themselves. This way they can continue the cycle with their own network of friends, as well as for the generations to come. Generational, meet communal. 🤝
You see?! The road to a financial legacy that you can be proud of is paved by accounting skills. While learning how to manage your money is great, that’s only a piece of the pie. The next is knowing what to do with it. Accounting teaches you both. Not only will it provide you with a great salary to start building a comfortable life, but it will also give you the tools to grow your career into a sustainable future that can make your family proud.
