What do see about your legacy?
Everything about you comes from your family, whether good or indifferent. It all depends on what the previous generation left you to follow. Some families can leave an inheritance that spans generations while others do not; more about his point in a few minutes.
You can not build a house without foundation. The foundation's purpose is to be buried deep and carry the weight of the building. Dreamcivil.com said about foundation, "The primary objective of the foundation includes even transfer of the incoming load to the ground so as to impart overall stability to the structure i.e. stronger the foundation, more is the stability of the structure." How much weight can your legacy hold?
If you look in the mirror, what do you see? I'm not talking about the color of your hair or facial features. Instead, I want to know if you see value and worth. I ask these questions because the family legacy starts with you.
What are your goals, and how are you planning on achieving them? Unfortunately, our dreams are often hindered by those we spend the most time with because they discuss their problems then move forward.
Concerning family legacy, Vitor Belfort (Brazilian - Athlete ) said, "Legacy is not what I did for myself. It's what I'm doing for the next generation." For you, it's about deposited values and principles that will outlast you. Unfortunately, too many families never provide their heirs with some form of a family legacy playbook. Even the bible states, "Write the vision and make it plain..." If you should pass today, what written instructions are you leaving behind?
What do you bring to the table? I believe you're intelligent, passionate, and have more to offer to those in your bloodline. However, leaving a game plan to help your heirs succeed is essential. Here's why it is crucial to step up and create a system for your heirs.
According to Elizabeth O'Brien's, "One in three Americans who get an inheritance blow it." (Source: marketwatch.com ) I recall when my wife and I went to a retirement luncheon. The speaker shocked everyone when he said, "The average inheritance is gone within 18 months." When I heard this, I almost choked on my food.
Amazingly, parents leave their children an inheritance without any financial education nor a roadmap to follow. Think about it, have your family ever talked with you about investing, the rule of 72, or tax efficiency? Is this the first time you have ever heard the term legacy constitution? If yes, consider yourself one of the lucky ones. Unfortunately, for most, I do not believe that's their testimony.
In the next blog, we're sharing some keep components of what to consider placing in your legacy constitution. LEARN MORE
