Not Your Average Financial Podcast™

Not Your Average Financial Podcast™


Episode 294: How Families and Financial Advisors Sabotage Generational Wealth

April 21, 2023

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?