The world went crazy after Dame Dashes remarks went viral from his Breakfast Club interview about entrepreneurship. Many ran with his remarks in the wrong directions due to his delivery and others applauded his remarks. A very great point he makes, is that his last name matters more than anything to him. As it should to all of us who have the responsibility of a family legacy.
Family First is the driving force of many people. Nothing is more important than this motto in the pursuit of achieving all of their dreams and careers. It is important for many to be present with their families for dinner, soccer games, college move-in’s, family vacations, and through the cycles of life. Family is super important to many.
It is only in the family dynamic that one can learn about the goals that are set for a particular family and the financial needs to accommodate those goals. Discovering what is the driving force of success for this family is also vital. Dialing into the family history for deeper context can be rewarding. It is necessary to find out who were the dreamers, the money makers, the hard-workers, and even lazy family members.
There is one thing about family we should all pay attention to. Family is a generational thing. That means, family is our legacy. Family history is passed down from generation to generation. Our whole family DNA means everything to us. Even your family name.
Teaching our children to build businesses should be a family pillar. Our firm agrees with Dame Dash in that regard. In addition to the passing down of actual financial wealth where a family can thrive for generations to generations. How have you planned the wealth transfer for the fourth and fifth generation of your family legacy. Does it matter to you? Are you concerned with the possibilities of your children starting over from scratch to lead their families? Will there be a base foundation of a wealth transfer?
In many cases, most families will inherit major bills rather financial benefits. This is a sad situation for most families. If you have been blessed with the resources to implement instant wealth into your family for the fourth and fifth generation, you should act now!!