A short excerpt from a YouTube video by Jayson Lowe giving practical advice on building generational wealth. Lowe emphasizes putting financial "policies" (life insurance/inheritance planning) in place early—start with yourself and expand programs to children and future generations as wealth grows.
We get the question, who should I begin with? Should I put the policies in place on my kids first or myself? If we rethink our thinking as parents, even as grandparents, you've got to get those policies in place early. And then if you have a much larger windfall, a much larger total death benefit, you can expand those programs on your children, and then they can expand them dramatically on the next.
