Which Legacy Do You Want For Your Family?
A Tale Of Two Legacies
At Factum Financial, the legacy that you leave behind is important to us. We want your family or business to be set up for success long after you have passed on from this life. How can you protect your legacy for generations to come? Consider two of the richest families in financial history: the Vanderbilts and the Rothschilds.
Cornelius Vanderbilt, at the height of his career, was one the richest men in the world. He was worth $105 million dollars in the late 18th century, which would equal about $2.5 billion dollars today. Yet after his passing, when his descendants finally gathered for a family reunion, not one millionaire remained between them. How far did his legacy go?
Conversely, Mayer Amschel Rothschild was one of the biggest businessmen of the 19th century. When he passed, he created a theoretical bank fund for his family which allowed his heirs to use the wealth he left behind to fund their endeavors through a loan which they paid back at a nominal fee. They would help each other with advice and direction when their ventures struggled and meet once a year to discuss their ventures. They remain one of the most wealthy families in banking to this day. Why were they so much more successful? They practiced stewardship of money.
Passing On More Than Money
When you leave this plane, what’s going to be your legacy? Teaching your children to tie their shoes or ride a bike? Just as a methodology is important to teaching those skills, it’s also important to pass on the tools for stewardship of money. Consider the story above of the dynastic families. At Factum, we want to show you how to leave behind a legacy that lasts.
If wisdom is learning how to play the game, legacy is learning how to teach the game. What good is beneficial knowledge if it expires when you do? Factum Financial doesn’t just educate individuals on how to set themselves on a path for financial freedom. We teach families how to maintain a financial legacy for generations to come.