How To Safeguard Your Empire & “Live Wealthy” Until The Day You Die

How To Safeguard Your Empire & “Live Wealthy” Until The Day You Die

Can you imagine the terror on Cornelius Vanderbilt’s face if he had known that his Manhattan house would be demolished just 50 years after his death due to his heirs running out of money?

In the 1800s, the man amassed a personal fortune exceeding $100 million! That is among the richest fortunes ever witnessed by humanity.

However, it didn’t even provide for his successors for two generations.

The Rockefellers, Vanderbilt’s rivals who amassed an even greater fortune in the same period, continue to support over 150 family members through their family office, donate up to $50 million annually to charitable causes, and are thought to be worth over $10 billion.

Even though many of us won’t become as wealthy as the Vanderbilts, we still want the Rockefellers to be the model for our legacy.

Beyond that, you want to spend the last years of your life with a sense of fulfilment and tranquillity, having accomplished all the things on your bucket list. with plenty of money in the bank.

And knowing that you have not only led a complete life but also that you are still able to “live wealthy.”

Everybody wants the next generation to perform better than they did.

However, the majority of people only think about their fortune and leaving a lasting financial legacy. But what about the morals and knowledge of your family?

Wouldn’t it be great to pass on the things you’ve learned through the years that have helped you become the finest version of yourself?

Whether you’re just starting out in your career, nearing retirement, or living the “ever after,” the topics we’re going to discuss may include some of the most important knowledge you’ll come across in your financial path.

Since this is all about “securing” your empire and the arrangements you can make now to not only leave a lasting legacy that will make people smile when they look back on you but also to create a “living legacy” that, when you consider your future, brings YOU joy.

Now let’s get going.

#1: “Living Rich” Up Until Your Death
From rising healthcare and living expenses due to inflation to managing and making prudent investments with your assets and portfolio to protect and increase your wealth… When it comes to what most people consider to be their “retirement,” there are several things to consider.

The truth is that you need to feel confident and at ease that you will have a high quality of life for the remainder of your days—living where you want to live, experiencing the things you want to have, cherishing those unique moments with loved ones, and never having to worry about running out of money—in order to truly plan for your legacy and estate after you’re gone.

So let’s speak about investing first.

It’s not about “what” kind of investments you should make. We are frequently asked that question, to which we usually reply, “It depends on your investor DNA.” This encompasses your distinct expertise, abilities, and life circumstances, naturally.

Nonetheless, there are tenets that might help you succeed as well as steer clear of costly errors.

For example, our approach is to concentrate on cash flow,not accumulation, as so many so-called experts advise you to concentrate on.

Focusing only on accumulation has the drawback of encouraging a “one day, someday” mentality, which can result in frugal spending, careful saving, and a lack of true enjoyment of life. or not “living wealthy,” as we put it.

It may even lead to decisions that are more akin to gambling than investing. Everyone has heard tales of large-scale winners who placed “bets” on equities or cryptocurrency. Similar to gambling, while some people win, many others lose.

You can know what you have coming in each month when you manage your portfolio with an emphasis on cash flow. You can set aside money for other purposes, such as fulfilling dreams or supporting organisations close to your heart!

If your attention is on cash flow, you are investing rather than gambling. because you are aware of the monthly profit your money generates for you.

It goes without saying that there is far more to this than we could possibly discuss in one post. To help you avoid costly mistakes and learn the seven keys to successful investment, we’ve put together a resource on leaving a Legacy Book

2. What Does “Making It Count” Mean to You?
We consider the “big questions” more and more as we age.

The traditional retirement narrative involved putting in 40 years of hard work, saving up for retirement, and then taking a break to pursue your passions. Play golf, take trips, eat fancy meals—enjoy the finer things in life to the fullest.

Nonetheless, there have been a number of intriguing studies, one of which revealed that retiring after 65 actually increases your chances of living a longer life (HBR article).


We discuss rethinking retirement and leading an affluent life that you genuinely fall in love with here at Wealth Factory. A retirement from the things you detest rather than from the pursuit of meaningful work. It’s a failed experiment to keep putting off enjoying life until “one day” when you retire.

This relates to the idea of “ikigai” in Japanese culture, which is a passion that adds meaning and happiness to life. It has become more well-known all around the world, particularly with the publication of the book Blue Zones, which highlights the Okinawa Islands in Japan, where people live far longer than average lives.

Life is made worthwhile by Ikigai.

Retirement is redefined to focus more on “doing more of what you love” rather than “stopping” doing things. to really put it to use.

How does that appear to you, then?

If finances were not a concern, how would you proceed?

When you were younger, how did you see your life unfolding? What was it you wished to encounter? And how can you envision a vibrant future in which you live a long, healthy life and fully utilise your “one life”?

You are here if you expect to read about leaving a lasting legacy after you pass away. This is an essential component of it. Because how well you lived truly matters more than money when it comes to motivating and providing for your children and grandchildren when you are gone.

#3: With a well-structured trust, steer clear of the three biggest destroyers of wealth.
Our members frequently ask us questions regarding the first steps in creating a trust. What to concentrate on, who can assist, and how much it will cost.

Thus, even if we’ve included a free resource on this topic at the bottom of the post, you need first to become aware of the threats that a trust can shield you from. Let’s face it, there are three major factors that can destroy wealth: division, litigation, and taxation.

Without a doubt, creating trust is one of the finest methods to “secure” your empire, if that is your true goal.

Let’s start with taxes. They’re unpopular, yet they’re unavoidable in life.

Since a trust enables you to systematically arrange assets to minimise the amount liable to estate taxes following your death, it can be quite beneficial in minimising taxes. If you have assets that you anticipate appreciating in value over time, such as real estate, you may want to consider looking into gifting them into a trust. However, doing so eliminates the trust’s ability to benefit from future growth.

Lawsuits follow. Our culture is rife with lawsuits. Lawsuits can quickly deplete your finances, whether they are related to a personal or corporate conflict. Your assets can be shielded from any legal disputes with the help of a trust.

Division is the last step. It involves more than just asset division math; it also involves the possibility of conflict and the depletion of wealth. A trust can support your family’s ideals and objectives long after you are gone by ensuring that what you have built is used as you desire.

A trust is a means to transmit the knowledge, customs, and teachings that are significant to you; it’s not merely a financial tactic. It’s about ensuring that your legacy extends beyond material prosperity and includes giving your loved ones the tools they need to carry on the work you started—which brings us to our next topic.

#4: The Family Legacy’s Three Rings
The goal of leaving a family legacy is to instill your beliefs, customs, knowledge, and life lessons in your ancestors’ DNA. laying the groundwork for your heirs’ future prosperity.

The essence of who we are and how we may continue to lead our loved ones even when we are not physically present are more important than the possessions we leave behind.

To do this, we utilise three crucial elements, or “rings”: Three essential elements are involved in creating a lasting legacy: the family office, the family retreat, and the family constitution.

A family constitution isn’t like any other kind of legal agreement. Consider it more of a love letter to the future, a means of imparting your life’s principles, goals, and insights. This is the section where you express your values and aspirations for your future generations. Future generations will be able to draw strength and guidance from its constitution.

One of our members’ favourite and most meaningful traditions is the Family Retreat. Imagine getting your loved ones together in a fun setting, such as a family cabin, to celebrate successes, discuss morals, and figure out how to help each other achieve our goals.

The Family Office, which focuses on wealth management and preservation, is the final representation of the pragmatic side of your heritage. But teaching your heirs a sense of stewardship and duty towards wealth is more important than simply math and financial tactics. The Family Office makes sure that your legacy is not only preserved but thrives by including them in decision-making, educating them on financial concerns, and building a structure that promotes the family’s individual and collective goals.

When combined, these three rings offer a comprehensive strategy for establishing a legacy that combines financial acumen with emotional discernment. They enable you to leave a morally rich legacy that sets up the next generation for success and real “living wealthy.”


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