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I’m Rich- How to build a Multi-Generational Legacy
Manage episode 429915334 series 3537733
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Today, we're discussing how to build a multi-generational legacy.
Goose and Gander start by defining what a legacy means—whether it’s about passing down your DNA or supporting causes through trusts. For Goose, legacy ties closely to his genetic lineage, but he also considers non-biological descendants.
Goose outlines his approach with a dynasty trust designed for his descendants, acknowledging the challenge of it lasting beyond three generations due to common pitfalls. He plans for conservative trust management, with trustees ensuring wise use of funds.
We explore the balance between rigid and flexible trust structures and the importance of trusted individuals as trustees. Goose and Gander also discuss investment strategies, weighing conservative and aggressive approaches.
In the end, while Goose hopes his legacy plan works, he recognizes that once he's gone, the outcomes are beyond his control.
#legacyplanning #wealthmanagement #financialplanning #generationalwealth #financialfreedom #investmentstrategy #financialgoals #trustfund #familywealth #moneymanagement #inheritance
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