In order to build a family legacy, (that is, building wealth and keeping it in the family), one must understand the Nine Secrets of the rich, and how they think differently than the general public. 1. In their family, they use the least amount of money to create the greatest amount of wealth. 2. They guarantee the wealth will occur and that the legacy will transfer Tax-Free. 3. They create multiples of wealth immediately using leverage and control. They do not get involved with "get rich quick schemes". 4. They never have a high percentage of their money at risk (if any!) 5. They create a pool of cash to be used for the family's capital needs. 6. They become their own They manage their tax situation wisely. 7. They stay informed by using qualified professionals. 8. They plan for the unexpected, and they recognize death is certain, and they are prepared to meet 9. They manage their cash flow, and they're not impulse buyers. I want to encourage you to read Len Renier's excellent book, "The Family Legacy". It's a great book! You can order a copy of this amazing book from Amazon.com for about $8 bucks. It would be a great investment for you and your family! Again, become and stay informed. Education has no finish line! I enrolled in the Master Certified Estate Planners program at the Institute of Certified Estate Planners at age 68. You can never learn less! Don't let your mind become idle. The government loves ignorant people. It's your choice! “Too many people spend the money they haven’t earned…to buy things they don’t want…to impress people they don’t like.” — Will Rogers.
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