One day someone asked me this thought-provoking question: “Can you tell me your grandfather’s first name? How about your great-grandfather or your great-great-grandfather?” When my answer was no, he told me this was due to the fact that many times we are so focused on making “ends meet” or maintaining what we have that we never do the things that are necessary to break the mold that is cast for us and our loved ones who follow. Because of this, we eventually become just another person on that family tree that is tucked away in some book.
Why is it that almost everyone can remember names like Joe Kennedy, J.D. Rockefeller and JP Morgan? It is, by in large, due to the permanent legacy that they established which has lived long beyond their temporary existence in this world.
We look at the accomplishments of the “really wealthy” and say: “Only if there was a way that I could do that, I would…” or, “I don’t have the wealth it takes to make plans like they do.” This mindset is what robs us of ever experiencing the joy in knowing what a true difference we can make. Through proper planning, we can take a little and turn it into a lot. You can use tools like Living Trusts, Charitable Remainder Trusts, Family Foundations and Irrevocable Life Insurance Trusts to change your family for generations to come. These tools are not beyond your means and abilities. When used properly, they can permanently change the outcome of your family forever and when your great-great-great grandchildren are asked your first name, they will blurt it out without a second thought.
Get together with your Financial Solutions Group registered financial profesional to learn how you can lay the foundation that will stand the test of time for you and your loved ones..