How to Give the Gift of
Wisdom and Success
to Your Kids
PRESENTED BY WEALTH FACTORY
Table of Contents
Legacy — It’s What We Leave to Our Kids, Whether We Intend to Or Not
Right and Wrong Ways to Build a Family Legacy
Imagine Transforming Your Family Legacy
The 3 Rings of Legacy
The Family Constitution
The Family Retreat
The Family Office
How to Apply the 3 Legacy Rings to Your Family Legacy
Starting Your Family Constitution
Starting Your Family Retreats
Starting Your Family Office
Continuing Your Family Legacy
Legacy — It’s What We Leave to Our Kids, Whether
We Intend to Or Not
“What will you leave for your kids?”
When most people hear that question, they think of property or an inheritance.
But frankly, that’s the least interesting and least important gift we leave to the next generation.
The most important gift we leave for our kids is a family legacy…
A legacy filled with traditions, values, love, wisdom and experiences… and the knowledge and
ability to manage wealth that is passed on to them.
And the truth is that we leave a family legacy to our kids whether we intend to or not.
Sometimes with disastrous results.
Want proof?
The proof that family legacy matters more so than wealth may be best captured in this photo:
This was the personal Manhattan residence of Cornelius Vanderbilt the Second.
Cornelius Vanderbilt the First built one of the largest fortunes the world has ever seen in the
shipping and railroad industries...
Which his heirs quickly squandered in many ways, including by littering Manhattan and the
Eastern countryside with competing palaces...
That were quickly demolished when the money ran out.
The mansion above? Demolished in 1926.
The Vanderbilt Triple Mansion? Also demolished.
The 3 mansions at 642, 660, and 684 5th Avenue in Manhattan?
Demolished. Demolished. Demolished.
And just like that, the Vanderbilt fortune dissipated into dust.
Right and Wrong Ways to Build a Family Legacy
Stories like that of the Vanderbilts lead people to believe that leaving a financial legacy is a risky
endeavor, if not a completely hopeless one.
For example, many believe that you have 2, maybe 3 choices…
1 ) Don’t worry about it. Let your kids fight over whatever money and assets you have left and
hope it turns out OK, or…
2 ) Give your money away to charity. Your kids may not be better off financially, but at least they
won’t be spoiled rotten.
And then there’s the third “choice” that comes from a mistaken belief...
3) You don’t have many possessions or wealth, so there’s nothing to leave behind.
What if all of these are wrong?
What if there was a way to give your children access to money in a way that empowers them,
rather than destroys them?
And what if legacy was about more than just money?
For example...
Imagine how your kids’ (and their kids’) lives would change if you could…
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Imprint your values, traditions, wisdom and lessons-learned onto the family DNA…
creating a springboard for your heirs’ future success
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Create family trusts to protect your family from the 3 biggest destroyers of wealth: taxes,
lawsuits and the division of wealth
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Strengthen and unify the family behind common ideals, beliefs and desire to impact the
world in a positive way
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Ensure your heirs are prepared for the money and assets you will leave behind… and
can use them productively as value creators instead of becoming trust fund babies
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And buck the banking system and be the founder of your family bank... so that
every time one of your kids (or their kids) buys a car, or a house or takes out a student
loan, they’re building the family bank instead of building up financial institutions
This vision of family legacy is one that has been passionately advocated by Wealth Factory.
It aligns closely with what we call “The Rockefeller Method” for generational wealth, a strategy
developed through intensive study of one of America’s richest and most successful families.
John D. Rockefeller Sr. built a fortune that surpassed even the Vanderbilt fortune.
John D. Rockefeller Jr. created a trust for each of his children: a daughter and five sons. The
bulk of the family fortune was put into these trusts and managed by a group of financial
professionals referred to as the “Family Office.”
Six generations later, the “Family Office” is still managing the Rockefeller fortune, which is
estimated to be more than $10 billion.
More than 150 Rockefellers currently receive interest income from the family trusts.
And the family is said to donate as much as $50 million per year to charity, carrying on the
senior Rockefeller’s tradition of philanthropy.
Many Rockefellers have found success in business and politics, with three governorships, a
senate seat and a United States Vice President among John D. Rockefeller’s descendants.
Conversely, the last well-known Vanderbilt descendant is the television host, Anderson Cooper,
who had to fight his way into the industry – even forging press credentials to get a chance at
reporting news.
The Vanderbilt fortune was nearly gone and not there to help Cooper.
The lesson is clear. If you want to empower your children, grandchildren, and
great-grandchildren, don’t simply leave them money to spend as they please.
Follow the lead of the Rockefellers.
Keep the money together with trusts and a family bank. And pass on your wisdom, values, and
knowledge to the next generation so that your vision doesn’t stop with you.
Imagine Transforming Your Family Legacy
Every entrepreneur and small business owner we meet is a hard worker.
They work tirelessly, building their dream and laying the foundation for their family's financial
future.
And after we work with them to make sure they keep more of what they make and strengthen
their financial foundation to withstand any economic storm...
The big question that remains is, "How do I make sure my financial legacy doesn't fizzle out and
get squandered once I'm gone?
"And how do I pass along my work ethic to the next generation (and beyond) so they can build
on what I've created, instead of becoming pampered trust fund babies?"
This is where our Wealth Factory approach to the "Rockefeller Method" shines.
Imagine establishing a structure similar to what the Rockefellers have. A place where your
wealth is not just stored, but also grows and educates.
A framework that makes sure your children are not just inheritors of wealth, but custodians of
the family's financial wisdom and values.
A living document that not only secures their financial future but equips them with the
knowledge to sustain and expand upon the legacy you're working so hard to build right now.
That's the power of the "Rockefeller Method."
It's about building a legacy that encompasses not just wealth, but also wisdom, values, and a
commitment to continuous growth and contribution.
Your legacy becomes a beacon that guides future generations, much like the enduring legacy of
the Rockefellers.
And it all starts by tapping into the power of the 3 Legacy Rings we've identified.
The 3 Rings of Legacy
Building a legacy isn’t just about what you leave behind. It's about what you create, share, and
live today.
A well-constructed family legacy gives your heirs a head start on success, never having to start
from scratch, yet also understanding the value of hard work and responsibility.
We've developed a specific step-by-step system to make this all happen, based on three key
components, or 'Legacy Rings':
Ring #1: The Family Constitution
Ring #2: The Family Retreat
Ring #3: The Family Office
Imagine a Family Constitution that passes on your wisdom and guidance to the next
generation.
Imagine an annual Family Retreat where you establish traditions, instill values, and find ways
to support each other's dreams.
And imagine a family bank and a Family Office, which is a team of financial professionals, all
working together on a financial plan for you AND your heirs…
These 3 rings of legacy, properly constructed and working together, empower you to build (and
live) a financial legacy that will live on long after you.
Here’s a brief description of each legacy ring:
The Family Constitution
While many focus on estate planning documents, the most impactful could be your own Family
Constitution. This is your platform to express your life's values, vision, and lessons.
This becomes a guiding light for your descendants.
When you write your Family Constitution…
Your kids, and their kids, and THEIR kids can read your words...
Learn from your wins and your mistakes, reflect on your values and philosophies...
And ultimately build upon your Family Constitution knowing that the successful family legacy
started with you.
The second ring is…
The Family Retreat
Consider the powerful impact of regular family retreats, where traditions are established, and
values are reinforced.
These retreats are crucial for engaging in meaningful conversations, passing on lessons, and
planning for the future use of the family bank.
Through these retreats, similar to those held by historic families like the Rockefellers, you can
create lasting symbols like a family crest.
This crest then becomes a symbol of your family's values and history, a tangible representation
of your legacy.
For more details on how to create your own Family Crest, and even involve your children or
other family members in the process, check out our full legacy program called Foundations:
Family Legacy.
And the final ring is…
The Family Office
This is the family office concept invented by the Rockefeller family.
It’s a team of financial professionals — all experts in their unique specialty — and all working
together on one financial plan for your family.
Hiring an entire team of financial professionals is easy for the billionaire Rockefeller family...
But at Wealth Factory, we’ve figured out how to bring something like a Family Office to you and
your family, without being worth billions or millions.
How to Apply the 3 Legacy Rings to Your Family Legacy
People love the idea of the 3 Legacy Rings and have paid as much as $5,000 to learn about it
in live workshops — so they can use these powerful concepts with their own families.
The demand was so high that we created a program based on the 3 rings called, Foundations:
Family Legacy.
It's a step-by-step guide that shows you how to make a family constitution, how to have a great
family retreat, and how to set up a family office.
You'll see examples of how to build a strong family legacy. It's like getting a behind-the-scenes
look at how families can work together to keep their values strong and plan for the future.
It has proven to be one of the most popular programs we offer.
So, in this free guide, we're giving you a sneak peek of what's in the full program.
Just by doing the three simple exercises we're about to show you, you'll start creating a family
legacy that can last for generations — even if you decide not to join the full program.
Starting Your Family Constitution
Think of a family trust document. It's usually full of legal terms, right?
But what if more than half of that document was actually your own words, thoughts, and values?
That's what a Family Constitution is all about.
It's a personal document that reflects your ideas on what really matters in life, like your financial,
spiritual, mental, physical, and social values.
This doesn’t have to be formal or intimidating.
In fact, to show you how easy and down-to-earth this can be, here’s an example of what you
might include in your own Family Constitution:
No one cares more about your money than you do, so be a good steward of it. Blind trust
in others can compromise both its safety and potential for growth.
And…
Wealth isn't just about being disciplined or finding the best investments. It's also about
overcoming a mindset of scarcity, which can destroy wealth.
You see, while our Foundations: Family Legacy program guides you through a detailed process
to pass down wisdom on all these aspects of wealth, it’s really not rocket science. It’s about
passing on what you’ve learned in life.
So, how do you start your own Family Constitution? Just take some time to think about these
questions. You might even want to discuss them with your family. Write down your answers,
type them up, put “Family Constitution” at the top, and then share it with your family: :
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What are the biggest mistakes in your life and what did you learn from them?
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What have been the most meaningful choices/decisions you've made and how
did you make them?
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What are your keys for success?
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What principles guide you in life?
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What traditions have been most valuable?
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What lessons from your ancestors still serve you well?
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What are the most important things you want future generations to know about
you and what you stand for?
This way, you’re not just leaving behind wealth, but a wealth of knowledge and experience for
your family to build on.
Starting Your Family Retreats
The next time your family is all together — maybe after dinner if you live together, or if your kids
are grown, maybe at a birthday or a holiday or just a family gathering — challenge everyone to
share what they believe are family values.
What does it mean to be a member of your family?
Discuss each suggestion and write down the values everyone agrees on.
For example, your family values might include things like:
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We Finish What We Start
We're Grateful
We Love and Respect Life
We're Always Honest
We Say I'm Sorry When We're Wrong
We Forgive When We've Been Wronged
We Show Affection When We Greet & Say Goodbye
We're Lifelong Learners
We Choose Good Friends
We Have Each Others’ Back
We Choose Great Partners in Marriage
We Support Each Other With Goals
We Earn Our Own Money
We Work Hard and Play Hard
Once you’ve all agreed on your family values — congratulations! You’ve just had your first
successful family meeting.
Regular family meetings – maybe once a month – are great for keeping your family close.
They're a time to celebrate how you’re living up to your values and discuss, kindly, where there's
room for improvement.
Family meetings are what you hold in between Family Retreats — possibly in a special place.
This is where you focus more formally on your family's legacy and future. They're a step up from
your regular family meetings and a chance to really dive deep into your family’s goals and
dreams.
In our Foundations: Family Legacy program, we go into detail on how to make these retreats
successful and meaningful.
Starting Your Family Office
The Rockefellers use a team of elite financial professionals all working together to grow and
protect their wealth.
At Wealth Factory, we help you create your own type of Family Office — or even work with the
financial professionals we’ve carefully vetted — to grow and protect your wealth, without being
worth billions of dollars..
This means identifying which financial professionals you already have in place, which financial
professionals you need to hire, and how to make sure they’re all working together from the
same playbook.
Our elite-level members will have more than 16 financial professionals on their wealth team.
But you can start your “Family Office” with fewer financial professionals. Look at the list below
and see which roles you already have covered, and which you may want to add to your team:
Accountant / Certified Public Accountant (CPA) — Prepares and files your taxes, and
can talk to the IRS on your behalf if there’s ever an issue
Registered Investment Advisor — Advises where to invest your money (without relying
on a commission); offers data, analysis and helps to manage your investments
Financial Planner — Takes a holistic look at your finances to help you build a solid
foundation and reach your financial goals. May also help manage your investments
Estate Planning Attorney — Makes sure your property is protected today and after
you’re gone. Helps prepare your will and trust documents to guide the next generation
Property and Casualty Insurance Agent — Offers protection from property damage
and liability claims, like if someone gets hurt on your property and wants to sue
Life Insurance / Cash Flow Banking Agent — Makes sure your family is protected if
anything happens to you, and a Cash Flow Banking agent will help you start a Family
Bank that will last for generations
Mentor / Life Coach — If you’re a Wealth Builders Club member, consider our team and
the Mastermind leaders your mentors, as they provide guidance aligned with Wealth
Factory's principles
How does your financial team look so far? Which roles do you need to fill most urgently?
Continuing Your Family Legacy
Your Family Legacy is something you live and breathe every day. It’s constantly updating and
upgrading as your knowledge and wisdom accumulate and your family bonds strengthen.
Remember, building a family legacy is an ongoing journey. It's probably the most rewarding
thing you'll ever work on.
You can continue to build your Family Legacy by writing more of your Family Constitution,
holding regular family meetings, and staying in touch with us at Wealth Factory to keep
improving your Family Office.
And if you're looking for expert advice on using the 3 Legacy Rings to build a family legacy like
the Rockefellers, our Foundations: Family Legacy program is always here for you. Just tap the
link below when you’re ready:
Get Foundations: Family Legacy Now
Thank you for spending time with us and investing in your family by reading this guide.
Here's to a legacy that lasts for generations!
Build the life you love,
The Builders at Wealth Factory