• Legacy Part 1

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    What comes to mind when you think of legacy? Is it what you pass down to the next generation in terms of a mind set or thought process? A way of life? An understanding of God? How about money or property? Legacy encompasses all of these characters and more! Watch the video, Legacy Part 1, for an introduction to legacy and keep reading below!

    If you Google the word legacy the first definition is an amount of money or property left to someone in a will. The next definition is a thing handed down by a predecessor. As I reflect on how legacy is define two things come to mind. First, the importance of leaving something in the next generation and second leaving something to the next generation. This can be observed on any scale, from a single family unit to the world as a whole, in a way we all have an impact on legacy.

    Specifically, in this series we are going through legacy from a family perspective and using Biblical stories, principles, & truths to discuss. As I mentioned the two perspectives that I feel defines legacy, it's important to realize that BOTH are important. Here is why:

    1. Leaving Something in the Next Generation

    Image for a second that you have obtained financial success, whatever that looks like for you, and you have about 20 more years of life left. During that time you are able to rack up more money then you choose to spend. You've been a good steward over what you have and your cup is overflowing. You have two children you want to pass down your money to but unfortunately their character is not where it needs to be. They lie and manipulate on a regular. Their spending habits are "I see it I buy it". They have not learned how to work hard because essentially you've done everything for them and although they are adults they still live at home. Once you die and will them your money what do you think they'll do with it? I estimate in about a year or so, without any help, that legacy you've stored up for them will be gone!

    God forbid anything like this happens to you but it definitely happens to people everyday. The point of this story is, it's great to leave money to your children but if you don't show them how to handle it how can the money be a blessing to them? Even if you can't leave much to them but you show them ways to handle money they have a better probability of achieving their financial success. But that means you have to be the one to show them how to do it, after all, they are your kids. So why not start this moment to understand and implement how to handle money wisely!

    2. Leaving Something to the Next Generation

    Now, imagine you have done an excellent job in raising your children, they are not perfect but they are responsible adults. Along the way you did not think investing money for later was worth it or even obtaining life insurance. You figured people with money are bad and you don't want your kids to be "those" types of people. Well, if you raise your children to be upstanding adults wouldn't you want more of those type of people to have money? People with character, honor, virtue, compassion, and love God (for those that believe). Money doesn't make a person good or bad it's simply a tool. Money can magnify who one is, for example if they are givers they'll be able to give higher amounts! If one is greedy money will allow them to be more greedy! As you can see passing a legacy to those who you raised with character is just as important as what you put in them.

    By no means am I saying you must do these things, it's your choice. I would like you to consider both leaving a legacy to and in the next generation equally as important. This is why budgeting, getting and staying out of debt, having a rainy day fund, and investing money is so important. You can literally change the trajectory of your family, generation to generation!

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