But Bill Gates, Steve Jobs, and Jeff Bezos, are not motivated simply by creating wealth. They are motivated by creating value, and they all did so first at the cost of tremendous sacrifice.
Instead of worrying about how you are going to make your money last for multiple generations, you should be worried about how your money is going to enhance the lives of your family for multiple generations.
When we talk about “generational wealth” we do not mean wealth for wealth’s sake. Instead, what we really mean is wealth for opportunity’s sake.
Here’s why: you will not just inherit your family’s wealth, but also your family’s problems
Instead of focusing purely on estate taxes, clients need to work on implementing strategies to preserve their wealth (and legacies) for future generations.
Rather than talking about money, you should be talking to your children about legacy.