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The Generational Wealth Code
A Tax-Smart Roadmap to Financial Independence
John J. Vento (Author), John J. Vento, Jr. (Author), Nicole Vento (Author), Christine Vento Conway (Author)
9781394425228, Wiley
Hardback, published 28 May 2026
512 pages
23.1 x 16 x 3.1 cm, 0.93 kg
Build lasting wealth for yourself and your family through proven wealth creation principles In The Generational Wealth Code: A Tax-Smart Roadmap to Financial Independence, four financial professionals, each with a distinct perspective shaped by their own stage of life and area of expertise, provide actionable guidance that helps you and your family create a legacy of wealth, stability, and opportunity. Stagnant wages, crushing student loan debt, rising housing costs, and record levels of consumer debt have made it harder than ever for families to get ahead—this book helps readers become financially independent so that they can make the most informed decisions in all facets of their lives, and thrive at a time when many are simply trying to survive. Readers will learn about: The Generational Wealth Code earns a well-deserved spot on the bookshelves of all individuals, no matter their current level of wealth or income, who are looking for concrete strategies to start improving their finances today.
John Vento, John Vento Jr., and Nicole Vento are Registered Representatives offering securities through Cetera Wealth Services, LLC, member FINRA/SIPC. Advisory Services offered through Cetera Investment Advisers LLC, a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. Registered Branch Addresses: 95 New Dorp Lane, Staten Island, New York, 10306 | 3700 S Ocean Boulevard St 809, Highland Beach, Florida, 33487. Christine Vento Conway is not affiliated or registered with Cetera Wealth Services, LLC. Any information provided by this individual is in no way related to Cetera Wealth Services, LLC or its registered representatives. For a comprehensive review of your personal situation, always consult with a tax or legal advisor. Neither Cetera Wealth Services, LLC nor any of its representatives may give legal or tax advice.
Foreword xiii Preface xvii Acknowledgments xxi Introduction: The Generational Wealth Code: A Tax-smart Roadmap to Financial Independence 1 Financial Literacy and Why We Wrote This Book 2 The Move from Capitalism to Socialism in the United States 3 Point X: Our Fundamental Financial Goal 6 The Next Level of Financial Independence: The Generational Wealth Code 7 The 12 Critical Areas of Comprehensive Wealth Management 9 Our Biggest Expense 10 The Power of This Book 14 Chapter 1: Committing to Living Within Your Means 17 The American Dream Becomes the American Nightmare 17 Living Within Your Means: The Essential Step 18 A Simple Savings Plan 22 Chapter 2: Understanding Taxes 27 A Brief History of the US Tax System 28 Organizing and Retaining Your Records 32 Tax-preparation Services 33 Accumulating Wealth Through Tax Planning 35 The One Big Beautiful Bill Act of 2025 37 Chapter 3: Determining Your Financial Position 43 Calculating Your Financial Net Worth 44 Case Study: How One Couple Was Able to Accelerate Their Journey to Financial Independence and Position Themselves to Create Generational Wealth 44 Making Sense of Cash Flow 53 Establishing Your Financial Goals 76 Finding Trusted Advisors 80 Chapter 4: Managing Debt 89 Case Study: How Two Doctors Went Bankrupt in Only a Few Years, What Not to Do 89 Basic Principles for Managing Debt 93 Good Debt Versus Bad Debt 95 Credit Card Debt 97 Auto Loans 103 Student Loans 105 Home Mortgage Loans 105 Business and Investment Loans 112 Understanding Credit 112 Your Credit Report and Your Credit Score 114 Preventing Identity Theft 119 Analyzing Your Debt 121 Chapter 5: Insuring Your Health and Life 127 Choosing a Health Insurance Plan 128 Long-term Care Insurance 144 Disability Insurance 152 Life Insurance 157 Buying Insurance Policies 163 Chapter 6: Protecting Your Property with Insurance 167 Case Study: How a Lack of Insurance Wiped Out One Woman’s Life Savings 168 Homeowners Insurance 170 Automobile Insurance 176 Umbrella Liability Insurance 179 Buying Insurance Policies 182 Chapter 7: Paying for College 189 Is College the Best Choice for You and Your Child? 189 The Cost of College and What You Can Expect to Pay 192 Case Study: How Not Saving for Your Child’s Education Can Ruin Your and Your Child’s Finances 194 Conducting a “Needs Analysis” for Your Children’s College Education 199 Strategies for Saving Money for College 201 Government Grants and Loans 215 Education Tax Breaks and Credits 220 Chapter 8: Planning for Retirement 229 Case Study: Saving Versus Not Saving for Retirement, The $2.2 Million Difference 229 Retirement Equation: Calculating Your Personal Point X, Financial Independence 233 The High Cost of Waiting to Save for Retirement 234 What You Can Expect to Receive from Social Security 237 Qualified Retirement Plans 240 The Difference Between Traditional IRAs and Roth IRAs 243 Trump Accounts: A New Tool for Multigenerational Wealth 250 Fixed and Variable Annuities 251 Retirement Funding: “Needs Analysis” 254 Chapter 9: Managing Your Investments 265 Analyzing Your Ability and Willingness to Take Risk 266 Stocks, Bonds, Hybrid Securities, Mutual Funds, ETFs, and Private Investments 273 Diversification, Asset Allocation, and Rebalancing 283 Dollar-cost Averaging 292 Inflation and Taxes: The Biggest Drains on Investment Return 293 Medicare Surtax on Net Investment Income 294 Cryptocurrency and Its Tax Treatment 295 Chapter 10: Preserving Your Estate 301 The Federal Gift and Estate Tax System 302 Legal Documents to Consider for Estate Planning 302 The Probate and Administration Process: Why You May Want to Avoid It 308 Using a Planned Gifting Strategy 313 Ownership of Property and How It’s Transferred After Death 314 Reasons for Creating a Trust 318 Benefit from a Family Limited Partnership 332 Irrevocable Life Insurance Trust 333 Spousal “Portability” of the Exclusion 334 How to Estimate Your Expected Federal Estate Tax Liability 335 Paying Your Estate Tax Liability 336 Asset Protection and Long-term Care 337 Chapter 11: Investing in Real Estate 345 The Power of Leverage: Using Other People’s Money to Build Wealth 346 Equity Recycling: Borrowing Against Equity to Expand Your Portfolio 348 Depreciation: The Phantom Deduction Driving Tax-deferred Growth 350 Estate Planning and Wealth Transfer: The Power of the Step-up in Basis 352 How Real Estate Builds Wealth Over Time: Proven Case Studies 353 Choosing the Right Entity to Hold Business or Investment Properties 356 1031 Exchanges: The Tax-deferred Transfer Tool 356 Drop and Swap Strategy 362 Delaware Statutory Trusts (DSTs) 364 Utilizing a DST with a 1031 Exchange 369 Utilizing a 1033 Exchange with Involuntary Conversions 371 Passive Income Generators: What They Are and When to Use Them 373 Qualified Opportunity Zone Funds 375 Private Real Estate Placements: Access to Institutional-grade Deals 378 Real Estate Investment Trusts 379 How the IRS Classifies Real Estate Investors 380 Best Practices and Pitfalls to Avoid as a Real Estate Investor 385 Real Estate Investment Checklists and Evaluations 387 Integrating Real Estate into Your Financial Planning and Generational Wealth Strategy 389 Chapter 12: The Time Value of Money 395 The Rule of 72 396 Trump Accounts and the Time Value of Money 397 Future Value Factor of a Sum Certain 398 FV of an Annuity Factor 404 Present Value Factor of a Sum 410 PV of an Annuity Factor 416 Summing Up the Time Value of Money and the Power of Compounding 416 Appendix A: Selecting a Trusted Advisor 423 Appendix B: 101 Ways to Save $20 or More per Day 435 Appendix C: Basic Concepts and Definitions of Various Types of Taxes 447 About the Authors 473 Index 483
Subject Areas: Finance & accounting [KF]
