Imagine having the kind of investment gains that brought you enough money to fund a few generations.
The kind of money that continually compounds on itself seemingly leaving no lack.
They call this generational wealth.
The truth is you can leave your kids and their kids “everything” when it comes to land, or stocks, or cash and leave them with very little.
You can have great financial wealth and be a rather small person.
This is not the kind of legacy worth leaving.
At least it’s not the kind of legacy we want our clients to leave.
Others can treat those who have made generational wealth with disdain. They call them ‘rich’ as if it were a naughty four-letter word.
But the fact is some can be both.
You can have great wealth and be a great person.
You can be wealthy and leave a legacy.
Those who are rich may have made many sacrifices of short-term gratification for long-term gain. But it always requires self-sacrifice to be loving. And there is no greater wealth than love.
Do you know the story of Isidor & Ida Straus?
Isidor Straus was a former congressman and co-owner of the Macy’s department store, who boarded the infamous luxury liner Titanic along with his wife, Ida.
They both died.
He was given a chance to board a lifeboat because of his age, but he chose to stay and not take the place of women or children on the ship.
Ida went down with the ship too—arm in arm—refusing to leave his side.1
You too should strive to live and leave a legacy.
Not just of wealth.
But of the wealthiest virtue of all—love.
Imagine leaving not just the money you’ve made, but the love you’ve given all along the way.
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Source:
1. Story taken from United States House of Representatives: History Art & Archives on April 15, 2014. Accessed online.