Unlocking Trillions: Collaborating Across Generations to Build Businesses

The baby boomer generation holds trillions of dollars in 401(k) and IRA accounts. While these funds are often seen as vehicles for retirement security, they also represent untapped potential for family wealth creation.?

What if, instead of letting those dollars sit passively in the market, you used them to start businesses and build legacies with your family?

Many boomers are retiring but don’t really want to retire. They still have so much to give—experience, knowledge, wisdom—and these contributions can be the cornerstone of building what I like to call the Modern Family Dynasty.

Legacy isn’t just about what happens at the end of life. It’s an ongoing process of sharing what you know and creating opportunities for the next generation. By stepping into entrepreneurial ventures with your kids or grandkids, you’re ensuring that your values, ideas, and expertise keep shaping your family’s future.

This idea excites a lot of people, but let’s be real: Most folks don’t know where to begin or wonder if it’s even a smart move. Let’s tackle that.

The Barriers to Working With the Next Generation

• Fear of Risk: The thought of using your retirement funds for a business can feel risky. You’ve worked hard for those savings, and stepping into the unknown can be intimidating.
• Lack of Alignment: Maybe you and your family don’t see eye-to-eye on what the business should be. Different visions and unclear goals can lead to conflict and hesitation.

Overcoming These Barriers

1. Financial Structures

First, set up strong offensive and defensive financial structures. Defensive strategies protect your essential needs—think of this as your safety net. Offensive strategies, on the other hand, focus on growth and building something bigger. When you have both in place, you’ll have the confidence to take on new ventures, knowing your financial security is covered.

Next, look into tools like self-directed IRAs or ROBS (Rollover as Business Startups) programs to fund businesses in a tax-advantaged way. Let me ask you: Would you rather let your IRA sit passively in the market, or use it to actively build something meaningful with your family? What if this wasn’t just smart—it was fun?

2. Aligning Wealth with Values

Aligning wealth with values creates purpose and direction for multigenerational collaboration.?

Discuss how investments and businesses can reflect shared family values—whether that means fostering innovation, supporting local communities, or “A.I. Proofing” your family.

When wealth aligns with deeply held values, it becomes more than just money; it becomes a legacy. This is what you truly want to pass on.

Schedule family meetings to discuss goals, expectations, and roles within the business. Having a unified vision ensures everyone is on the same page and working toward a common objective.

The Key Takeaways

1. Redefine Retirement Wealth Retirement savings can do more than fund individual lifestyles—they can fuel a lifetime of continued contribution and multigenerational legacies.
2. Learn and Adapt Together Starting a business with your kids or grandkids isn’t just about profits. It’s about building something meaningful, creating opportunities, and establishing a family legacy that stands the test of time.

Are you ready to take the first step? Share this idea with your family. Start the conversation and explore what it might look like to turn your retirement dollars into the foundation of a Modern Family Dynasty.

?? Resources:

Related topics covered in past LinkedIn newsletter issues:

Using Offensive and Defensive Assets: https://www.dhirubhai.net/pulse/how-survive-market-crashes-denver-nowicz-hb31c/

Teaching Values for Generational Wealth: https://www.dhirubhai.net/pulse/teaching-values-generational-wealth-denver-nowicz-hnesc

??? Free Linkedin Group:

Build your Modern Family Dynasty: https://www.dhirubhai.net/groups/5156642

Thank you for reading!!!