Page 21 - January 23 2023

By Christopher

Many people today are beginning to have the mindset of
building a legacy for their families. There are many ways
that this can be accomplished and it seems the most
popular route today is being an entrepreneur. How many
challenges do entrepreneurs face when getting
started? It is safe to assume that many of the
struggles entrepreneurs face are the same.

Sometimes it becomes a juggling act of do we pay our mortgage, put food on the table or make
the car payment? Let’s not forget the slew of other things we stress about like planning for
retirement, our various insurance premiums and all the utilities.

For most Americans starting a business is a one-time gambit that is make or break, while
wealthy individuals start businesses left and right, or buy pre-existing ones. What do you think is
the biggest reason only a few families are able to continue being entrepreneurs? What if I told
you that they have created and taught a system of generational wealth to pass on to keep that
wealth building and compounding for generations to come.

One of the easiest ways to build generational wealth is through life insurance. Let’s face it folks,
we are all going to die one day, as uncomfortable as it may be to face that fact, it’s the truth.
The sooner we accept the truth though, the sooner we are able to make a plan to face it head on
and prepare for the inevitable. There is a certain peace that comes with being prepared and that
is something we can all use more of. This begs the question of how we use life insurance to
create generational wealth.

The first step is figuring out our life expectancy. It isn’t a full proof science, but gives the
general idea of when we might pass on from this world. Second step would be figuring out the
amount of money you want to leave? Do any of us know exactly when we will die? I know I don’t.
The question comes down to what will your legacy be? What will you be remembered for? Since
you are an entrepreneur, you likely want to be remembered for altering the
family tree forever and because that is the case we need to have the
conversation of how to get your generational wealth plan started.

Christopher Keilbart, Freedom Solutions LLC.
https://www.keilbartfreedomsolutions.com iNETrepreneur Magazine | Page 21
Email: chris@keilbartfreedomsolutions.com