The compounding of the last chapter can be applied to all types of debt and investments.

Over time, compounding is powerful.

Outside the square, you can proactively establish the benefit of compounding wealth across generations through succession planning.

This could be for personal assets, or through a family succession plan, which includes wills, testamentary trusts and similar. It could also be for business assets, using a business succession plan.

When establishing this type of planning, it is valuable to appreciate the importance of communication.

When it comes to wealth transfer on death, it is of great value to open communications with executors, beneficiaries and others relevant people as to what arrangements have been put in place and why.