Forget the 1%, Will you Even Be the 10%?

For the next 30 years it is estimated that 20,000 families a year will each transfer over $20,000,000 to the next generation.

What is being said here? On the surface it looks like an interesting statistic occurring for the next three decades.   

But what is this really about?  It’s about the transfer of money colliding with the statistic that tells us that 70% of families who transfer their wealth will find their wealth gone in the second generation, 90% of the families will find their wealth squandered, spent or wasted in the third generation, gone forever, a legacy lost.

What does this mean to you? That you need to understand that there is a high likelihood that the money you accumulated through business or investments will have a high likelihood of being exhausted before your great grandchildren even have a chance of benefitting from its opportunities. The great estate and trust planning coupled with the precise tax and investment positioning is not enough. There is still an element missing to that successful transfer. And that missing element is the preparation of the family for that eventual transfer.  You have to choose to add this element into your transfer plans.

Families have learned how to successfully transfer money. That structure has been chugging along for centuries by estate planners and financiers. But people need more than the money to produce success. Heirs need a blueprint and a roadmap to know how to continue the wealth through the generations.

That is the difference between the 90% and the 10%- preparing the family as well as the money for its eventual transfer.  

To learn more please visit our website @www.focusandsustain.com

Next time I will talk about something I recently discovered about commitment.

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