To build wealth that can be passed down through generations, getting out of debt-- and staying out of debt--is very important.
On the other hand, Business Insider personal finance contributor Jannese Torres-Rodriguez argues increasing your income is just as important.
It's not always possible to find jobs that progressively pay more and more. But side hustles can serve that purpose instead.
Torres-Rodriguez says her side hustles now bring in roughly $100,000 a year, and she uses it in three ways to build generational wealth.
She first accelerated her own retirement savings. Then, she helped her niece with college, so she doesn't have to leave school burdened with debt.
Now, it gives her enormous pleasure to be helping out her own beloved parents through their golden years!