Ep. 174 - Legacy Builders: Nurturing Family and Business for Future Generations
The term family legacy gets thrown around a lot. We want it but do we really know what it means, how to build it, and know when you have it? In this episode, we’ll share what we’ve learned, how we’ve built it, and share some stories of others who’ve done it.
NOTE: It doesn’t matter how much or little your assets are worth. Nor does age have anything to do with it. You haeBuilding a family legacy starts with taking the first step. Take a listen.
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Key Takeaways:
You have more than you think
Memories are just as important as tangible assets
Define legacy
What legacy looks like
How to build it
When you should start thinking about it
What if I don’t have much and I’m too old to build anything?
How to get your kids involved with the business
A living trust is an important step to establishing legacy
You start, someone else finishes
Our “plan” to build legacy
Didn’t want to have the same life
Plan for our future
Want to make an impact
Make a significant investment in 5 year increments
Succession
