Is your wealth going to be seen as a Legacy or winning the Lottery?
For most people, they find themselves at a point where they start thinking seriously about how where and when they want their wealth to go when they are gone. They are fearful about the future and what happens to their finances. This is typically when they are faced with the Three Generation Rule of Wealth.
Three Generation Rule of Wealth
The “Three Generation Rule of Wealth” is the typical situation where wealth is created and squandered within three generations.
It starts with the first generation, they started with nothing, worked very hard their entire lives to accumulate what they had.
When the second generation inherited that wealth they had seen Mom & Dad work hard for that wealth and they respected it and worked to continue the same work ethic, wealth management & stewardship qualities they had witnessed.
Now the third generation inherits that wealth. They never witnessed the hard work and sweat equity of the first generation, they think the second generation should have spent that money on fast cars or more vacations. When they inherit it, they squander it. Typically in about 18 months. Do you want your beneficiaries to see your wealth and hard work as a Lottery or Legacy?
Why does this happen?
Because some generation either now or in the future will see your wealth as winning the lottery, not inheriting a legacy. You can put strings on your wealth; those strings are your values, wealth management and stewardship qualities. Estate and Financial Services is the help you have been looking for to work toward your goals.