The Money Blog

How to Create a Family Bank

Discover the harsh reality that seventy percent of your wealth could vanish by the second generation and ninety percent by the third. In this video, we explore the Rockefeller Strategy to ensure your family's legacy doesn't become a statistic. Learn from historical tales of the Vanderbilt and Rockefeller families. While the Vanderbilts lost it all in just a few generations, the Rockefellers strategically used a family bank, keeping their wealth intact.

Explore the crucial steps to create your family bank, starting with assembling a trusted family office. Establish a family constitution, outlining guidelines and values, ensuring a blueprint for future generations. Form a family board for collective decision-making, and proceed to establish a family trust, the core of your family bank. Fund the trust with a life insurance death benefit, and leverage cash value life insurance policies to secure compound interest, flexible policy loans, and a permanent death benefit.

Understand how the Rockefeller strategy ensures a perpetual flow of wealth, replenishing the family bank for generations to come. Contrast this with the Vanderbilt family's downfall due to lavish spending and financial mismanagement. Now equipped with this knowledge, make an informed decision for your family's financial future. Share your thoughts in the comments, subscribe for more financial insights, and join us on this journey to secure generational wealth.

If you're interested in setting up a consultation to see how this strategy can work for you and your family Click Here

Jemayne

 
 
 
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