Not Your Average Financial Podcast™
Episode 294: How Families and Financial Advisors Sabotage Generational Wealth
In this episode, we ask:
- Who needs to hear this?
- Would you like a FREE book?
- What about leaving a legacy?
- How many generations?
- What did Gloria Steinem say?
- What about aggressive investment?
- Did you lose $1?
- Should we become more conservative as we get closer to retirement?
- What is human capital?
- How might we think like a family?
- What is the greatest asset?
- Would you like to hear Episode 104 and Episode 105?
- How might one take an individual’s net worth and build up the family for generations?
- Who is “taken out of service”?
- Who will transform the family?
- What happens in retirement?
- What is the work that you love?
- What about consulting?
- What about freelancing?
- What about starting a business?
- What about mentoring the next generation?
- What about sharing your story?
- Is insurance temporary?
- How is life insurance the bedrock of generational wealth?
- Who buys term insurance?
- …What do they have to show for it?
- What happens when term insurance runs out?
- What is the best age to purchase insurance?
- What are the guarantees?
- What is the only type of life insurance that offers guarantees?
- What about government and taxes?
- How much will you pay in tax in retirement?
- What are the restrictions on the 401(k) or IRA?
- Do you want the choice to spend down the accounts?
- What happens now the SECURE Act has passed?
- What are growth vehicles?
- What are transfer vehicles?
- What about failure?
- What if there was no transfer of power?
- How might we prepare the people to receive gifts?
- Who is leaking money, as the generations progress?
- What about shirt sleeves to shirt sleeves in three generations?
- What about nurturing emotional, intellectual and human/social capital of the family?
- Why do so many focus on short term thinking?
- How do we avoid sabotaging and avoiding long term generational wealth?
- Would you like to talk with Mark about generational wealth?
- What are the four key elements that lead to long term thinking and generational wealth?
- What about financial foundations?
- What about saving?
- What is the opposite of saving?
- What about a family fund?
- How might one save money, mitigate against risk and provide permanent protection and leave a legacy?
- What about family lending?
- What creative ways might you use family capital?
- What if grandma and grandpa bought up all of the loans for the children and grandchildren?
- What would happen if the wealth stayed within the family (instead of bleeding interest to bankers)?
- What about leadership?
- What about mentorship?
- What about nurturing family relationships?
- What about growing children into world leaders?
- How young is too young?
- What about legacy?
- How might we prepare the people for the money?
- What about the traditions and the values you leave behind?
- What about sharing this episode with a family member?