One of the tenants we adhere to at Factum Financial is the solidification of a lasting legacy. When we help families and businesses to build and protect their financial freedom, we also work to show people how they can pass on the wealth and the wisdom that they have learned through a relationship with our wealth strategists. When you think of dynasty families in this country whose names are emblazoned on anything from t-shirts to towers, the odds are that they have passed on generational wealth to ensure the success of their family for generations to come. You might imagine that their level of income and success is based on years of money and property passing from hand to hand, and you would be right in a sense. However, anyone has the ability to apply the same wealth and savings principals that the most affluent families use. You can start protecting your family’s legacy today.
What Is Generational Wealth?
Generational wealth is a collection of assets that include cash and real estate properties that are passed between generations to ensure the stability and safety of the family legacy. Generational wealth is simply one aspect of a long legacy that stands the test of time. Many families have been rich in the past without a penny to show for it now. You can have all the money in the world, but make poor or selfish decisions that lead to your ruin. You can give money to your children in the hopes that it might set them and their children up for a bright future, but without proper financial education that money could be gone within a few generations. Generational wealth is the tangible asset or even the concept of wealth carried in the family. To be successful at building generational wealth, you need more than that.
What Is Legacy?
While the dictionary might define Legacy as a “a gift by will especially of money or other personal property,” we tend to look at that word differently. When you think about the people in your family that have influenced you or imparted anything from wealth to wisdom on to you, that’s legacy. It’s a gift from the past or the result of someone else’s hard work or lessons learned that you are now responsible for. With the right education and some work ethic, you can protect that legacy and pass it on to the next generation as well. Legacy is so interesting because it’s so malleable. Are you the first in your family to consider protecting wealth and your legacy for future generations? Building and protecting the wealth might take some discipline, but it can start with you. No one is limited by the decisions made by family in the past. The future should be your only concern.
How Can I Build A Legacy Today?
At Factum Financial, education is at the core of what we do. Our excellent team of wealth strategists will teach you how to start protecting, growing, and using your money in a fashion that puts control in your hands. You won’t have to look back at the bank for their aid when you want to accomplish your goals. You will learn to bank on yourself, making use of dividend-paying whole life insurance as a conduit for radical growth and protection from excessive taxation.
Once you have established yourself and created your own banking system, giving you control of where your money goes and putting money back in your pocket, you will also learn how to protect that savings for the future so you can create generational wealth. Future means a solid retirement plan that doesn’t rely on the volatile stock market. Your life insurance policy is specifically designed to produce living benefits. However, when you do graduate from this plane, the money that you leave behind will then establish continued generational savings. With the proper education for the whole family, you will be able to pass on your financial strategies and your assets to preserve your legacy for many years to come.
If you are thinking about breaking free from the generational start-over and want to establish your legacy now, Factum Financial can help. Contact one of our wealth strategists today to see how we can show you how to shape your legacy for generations.
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