Creating Wealth That Lasts: 10 Principles of Legacy Wealth

In my roles as legal counselor, advisor, Board Member and owner, I have shared many moments with wealthy individuals. Over time, I became curious about what was most important to them and what was their greatest fear.

The answers I received surprised me. If the person was younger and still focused on amassing great wealth, their response would center on protecting the wealth. If the person was older, the answer would be quite different. Instead of wealth protection, they were concerned about value inheritance.

There is a distinction between money and wealth. Money is a means of exchange. Wealth is a broader term and includes "well-being." In other words, you can be rich and not wealthy. Or as I like to say,

??????????????????????? "Money is accumulated, legacy wealth is created."

Legacy Wealth is a concept that requires an intentional focus on sharing the values that you used to create your success.

What is Legacy Wealth?

I have interacted with many entrepreneurs and business leaders who focus intensely on accumulating wealth, but often overlook the critical aspect of Legacy Wealth. The frantic pursuit of success can sometimes overshadow the importance of what we leave behind. Money alone isn't enough to ensure our children's success and well-being. Without shared values and principles, inherited money might not lead to lasting wealth.

Consider this: you work tirelessly to build a financial empire, but what happens when you're no longer around to guide your heirs? If they lack the foundational values and principles that created the wealth, the fortune you leave behind may not stand the test of time.

When I considered my legacy, I wanted to ensure that my children and grandchildren understood my values, beliefs, and success principles. I wrote "Wealth That Lasts: 10 Principles of Legacy Wealth," to explain the tenets of Legacy Wealth. By nurturing the roots of your wealth—values like integrity, responsibility, and a strong work ethic—you ensure that the tree of your legacy remains strong and resilient.

Just like a tree needs fertile soil, rain, and sunlight to grow, your legacy needs a solid foundation of principles. This book guides you on how to cultivate these roots and pass them on to your family. By consciously sharing and living these principles, you set an example for your children, teaching them how to achieve well-being in all areas of life.

Key Takeaways:

1.???? Define Your Legacy Wealth: Understand and articulate the values, principles, and attitudes that make life meaningful and precious to you.

2.???? Cultivate Strong Roots: Focus on building a solid foundation of shared values that go beyond financial wealth.

3.???? Lead by Example: Demonstrate these principles through your actions, showing your family the path to true well-being.

4.???? Nurture Continuously: Ensure that the principles of Legacy Wealth are consistently applied and nurtured, just like the roots of a tree.

By integrating these principles, you not only secure financial stability for your heirs but also equip them with the wisdom to manage and grow that wealth sustainably. Legacy Wealth is about more than money—it's about ensuring your legacy thrives for generations to come.

As you navigate your journey of wealth creation, remember that the accurate measure of success lies not just in the money you accumulate, but in the legacy you leave behind. "Wealth That Lasts: 10 Principles of Legacy Wealth" provides a roadmap to building a legacy rooted in strong values, ensuring that your wealth endures and prospers across generations.

The Kindle version of the book is available for pre-order at a reduced price. The paperback is available on June 7, 2024.

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