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St. Jude Thaddeus - 94th & Harvard
Whitney M. Young Magnet High School
Chicago State University
DeVry University - Bachelor of Science in Business Administration/Finance
Illinois, Georgia, California Departments of Insurance
Mother of 12-year old Kevin and 15-year old Jada
Wife to Jeff (JaVonne, 23 and Jeff, 27)
Efficient Estates, Managing Partner
RDOG, Founding Director
Emotions may be triggered.
17 Adults at $50/month = $850/month of investing power
17 Adults at $100,000 life insurance/life = $1,700,000 income tax free
$500,000 401k = $500,000 +/- gains/losses - your unpaid income taxes - the beneficiaries income tax rate and any other relative taxes and/or fees.
$750,000 real estate properties - market time - fees/miscellaneous expenses +/- gains/losses - income taxes (without tax plan)
Investment portfolio +/- gains/losses - unpaid income taxes - the beneficiaries income tax rate and any other relative taxes and/or fees.
Today, I encourage you to ponder over the definition of generational wealth.
Take an inventory of 5 people in your family who have passed on during your lifetime.
Multiply $250,000 by 5 (the number of people above)
Write down 3 things you could've done with the amount of money you listed in #4.
Ponder & Journal
Take note of the legacy left by each person listed on your inventory from step #3. These can include stories you’ve heard repeatedly from multiple family members, heirlooms, property, businesses, etc.
This stuff is powerful!
Questions to Ponder:
- Are you disposing your disposable income in consumption?
- How different would your life be had you inherited just $50,000 per relative from your inventories drafted with steps #3 & #4?
- What if your child purchased his/her first home from the family bank instead of the traditional brick and mortar bank that pays us all 0% interest on our money?
- Better yet, what if your child inherited his/her first home from the assets inside of your Family fund?
- What if our children inherited income-generating property from within the assets of our Family Funds AND purchased their first homes from our Family Banks using the income that the tenants are pumping into our Family Funds?
What's Next? Take Action!
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