Doing so is a daunting task, and requires having a clear plan in place for mitigating your taxes, while growing your portfolio of assets, businesses, investments, insurance and cash in this lifetime.
Simultaneously, you must implement succession structures with financial controls baked in, that keep the money in the family generation after generation, and keep family members thriving and connected to one another in meaningful ways, long after your passing.
Maybe you’re 1st generation rich, and you don’t come from a rich or wealthy family. Perhaps your personal or business networks include plenty of high net worth individuals and accredited investors, but like you, they don’t have any experience in creating or maintaining multi-generational wealth management entity structures for a family.
You’ve probably got life insurance, but perhaps you don’t know the difference between direct recognition insurance, and customized, non-direct recognition insurance that a person like you would use to fund their Private Family Bank…
Perhaps you and those in your personal circle may have heard the term “be your own bank,” also known as “infinite banking,” but maybe while it sounds good, you don’t actually know HOW to do this in real life…
Perhaps you, like most people with financial means who’ve done some basic research on the topic, think that “being your own bank” or “infinite banking” is solely about pre-funding non-direct recognition life insurance policies with 6-figures or multiple 6-figures, then borrowing against them to purchase passive income generating assets…
Perhaps you don’t know that in order to truly set up your “Private Family Bank” (more accurately referred to as a Private Financial Reserve), actually requires a 4-entity structure, which also mitigates taxes and eliminate personal liability, with the insurance being a FUNDING mechanism for just ONE (1) of those entities. The non-direct recognition whole life insurance, in and of itself, is not the “infinite bank,” it is just a tiny piece of the puzzle…
Perhaps you’ve heard the term “own nothing, but control everything” if you want to keep your cash, assets and businesses 100% free from the possibility being pulled into a lawsuit if you are ever personally found liable for damages in some way, but you don’t know the comprehensive entity structure to properly do that. This is part of the 4-entity structure of the Private Family Bank, by the way…
Perhaps you don’t know the exact 2-entity structure to put in place in order to ensure the least amount of inheritance tax possible for your heirs upon your death, while the entities that comprise your Private Family Bank seamlessly transition into what’s called a “Private Family Office,” growing and sustaining in perpetuity, generation after generation, ensuring business loans and investment capital are ALWAYS available to family members in your bloodline, hundreds of years after you’re dead and gone, like the Rothschild and Rockefeller families have done…
Perhaps you don’t know that beyond just passing on money, the Rothschilds and Rockefellers require strict controls on the Private Family Office, that make access to loans and investments for family members rigorous, and only available to those family members who attend REQUIRED family gatherings yearly, financial education events hosted by the family yearly, and family meetings where personal presentations about your financial and investment choices and outcomes from each family member are mandatory.
Perhaps you don’t know that by the 3rd generation, most newly rich families have lost their money due to inheritance tax, coupled with poor business choices, financial choices and investment choices of 2nd and 3rd generation heirs, who have never had to go through the process of building something on their own, and don’t have the proper mindset or financial discipline to nurture and protect the family’s assets.
Perhaps you’ve never had an education in creating multi-generational legacy wealth protection structures, and don’t yet know that simply making money and giving it to the next generation in a “trust” isn’t enough. Controls must be in place for financial education, for keeping family relationships and bonds tight, and to make sure that every generation has access to the capital they need to START, but must be charged with building their individual family legacy from the ground up, because that experience is NECESSARY in order to be a proper steward of what has been built…
Perhaps that’s where you find yourself, looking for the QUALIFIED guidance from experts who have made it their life’s work to create multi-generational legacy wealth management structures for some of the most financially elite families in the country, but you don’t know where to find these people, what questions to ask if you did, or how to make sure that what they tell you is accurate…
In RING 6: Generational Wealth, your focus is no longer on you, it is on creating entity structures that make sure that 100 years from now, your family is still thriving and building and growing, based on the structures that you’re building now. There are specific things you need to KNOW, people and resources you need to HAVE or have access to, and things you to need to DO in order to stay in RING 6: GENERATIONAL WEALTH.
