Building wealth is not just about a high-paying job or prestigious degree; it's about mastering fundamentals and connections.

A recent McKinsey & Co. report highlights 5  (five) crucial financial inclusion factors for wealth building.

1. Efficient Everyday Transactions: Many Americans lack access to basic banking services, but digital finance offers more inclusive opportunities.

2. Access to Credit: Access to affordable credit is essential for financial milestones like homeownership.

3. Insurance as a Safety Net: Insurance is critical for guarding against unexpected losses and acquiring assets like a home.

4. Savings for Rainy Days: A significant number of Americans lack emergency savings, making consistent saving essential.

5. Accumulating Long-Term Wealth: Wealth accumulation involves saving and investing, including homeownership and various investment avenues.

Generational Impact: Building wealth has generational effects, shaping the financial future and imparting valuable skills to younger generations.

Disparities in Inheritances: McKinsey's findings reveal disparities, highlighting the need for greater financial literacy and wealth creation opportunities.

Financial success relies on mastering these five critical aspects and making the right connections, regardless of background or circumstances.