Intergenerational wealth is not only about material possessions—it is about building a legacy, creating stability, and fostering opportunities for future generations.
This was the powerful message shared by Afra Schimming-Chase, guest speaker at the Namibia Economist Businesswoman’s Club Networking Breakfast held on 4 April at the Hilton Hotel.
Afra challenged the audience to rethink traditional ideas of wealth. “When we hear about intergenerational wealth, many of us immediately think of the affluent, the trust fund heirs, or families that have been wealthy for four or five generations. But very few of us come from such backgrounds,” she said.
With global wealth projected to increasingly shift into the hands of women over the next 300 years, Afra emphasized that this creates both an opportunity and a responsibility. “The female market is larger than China and India combined. We have the power to build intergenerational wealth—not just assets and resources, but financial stability and prosperity that can be passed down.”
However, she warned of the well-known cycle of “shirt sleeves to shirt sleeves in three generations,” pointing out that only 30% of family businesses survive to the second generation, and just 10% to the third. “The question is: how do we break that cycle in Namibia? How do we go beyond the third generation?”
Human Capital First
Afra stressed that the foundation of intergenerational wealth is human capital—education, knowledge, values, and behaviour. Families that invest in education, she noted, dramatically increase their chances of building something greater than themselves. “The first investment must be into human capital,” she said.
She encouraged women to strengthen their relationship with money, moving beyond fear or scarcity. “Learn to be comfortable with money, no matter how much you earn. Be inspired and empowered by it.”
Strategies for Generational Prosperity
Practical strategies discussed included:
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Education & Knowledge Transfer – prioritising learning and shared values within families.
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Tangible Assets – exploring real estate, family trusts, and group investments as ways to build sustainable wealth.
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Financial Tools – using accessible products like life insurance to create a foundation for future generations.
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Collective Savings – pooling resources through group investment clubs, unit trusts, and fixed deposits.
She reminded participants that wealth is not accidental—it requires stewardship and planning. “Family wealth does not happen on its own. It is built intentionally, with purpose and vision.”
Passing on More Than Money
Beyond financial assets, Afra emphasised the importance of passing on responsibility, values, and gratitude. “When you pass on plenty, let it come with responsibility—so that future generations create bigger and better, not from a place of lack, but from appreciation of those who came before them.”
Quoting Dr John Demartini, she concluded: “Money is a form of energy, and energy cannot be destroyed—it can only be transformed. With the right mindset and behaviours, generational wealth can be preserved and grown.”
Afra left her audience with a challenge: “Decide on just one thing you will do today to create a meaningful legacy for the next generation. When you are gone, will your legacy continue to make an impactful difference?”
#WomenEmpowerment #Leadership #LegacyBuilding #FutureFocused #EmpowerHer #InspireChange #SustainableWealth #FinancialFreedom