Are you planning on leaving your kids an inheritance?
I read a lot of 'I'm building a legacy for my grandkids' grandkids' and I LOVE seeing it.
But, if you study the statistics, most families are shirtsleeves to shirtsleeves in 3 generations.
Meaning:
I read a lot of 'I'm building a legacy for my grandkids' grandkids' and I LOVE seeing it.
But, if you study the statistics, most families are shirtsleeves to shirtsleeves in 3 generations.
Meaning:
One generation makes a ton of money by working their asses off.
The next generation indulges themselves and wastes it.
The next generation is back to working again.
So make sure you don't just leave your family MONEY, they need PRINCIPLES as well.
The next generation indulges themselves and wastes it.
The next generation is back to working again.
So make sure you don't just leave your family MONEY, they need PRINCIPLES as well.
The trust I've even seen was a buddy of mine that leaves his kids and grandkids money each year equal to the amount they earn.
No freeloading.
If you earn $30,000, you get to pull $30,000 from the trust.
Earn a $100,000, pull a $100,000.
No freeloading.
If you earn $30,000, you get to pull $30,000 from the trust.
Earn a $100,000, pull a $100,000.
AND you have to pull an equal amount and give that to charity.
Oh, and you have to get drug tested once a year.
If you fail once, the trust will pay for rehab.
Fail twice...you're cut off FOREVER.
HE is a smart, smart man.
Oh, and you have to get drug tested once a year.
If you fail once, the trust will pay for rehab.
Fail twice...you're cut off FOREVER.
HE is a smart, smart man.
Oh, and I'm back. Last week got a little crazy.
But I have some killer threads coming out this week.
But I have some killer threads coming out this week.
