What is financial success? I believe that it is creating a level of wealth that you are comfortable with and passing that wealth on intact to the next generation.
Yet many individuals choose to press the self-destruct button, and rationalise their destructive behaviour with bizarre statements, that defy logic.
Like a highly successful businessman I know, who has created a highly cash generative business. As I said to him, the only thing that stands between your success and Financial collapse is your failure to take out life insurance, to provide for your family if you become ill or die early.
“ Ah! well, he replied – I don’t believe in life insurance”.
It is not a belief system, I replied. It is just a very cheap way to protect your family. Next thing you will be telling me is that you don’t have a will.
“I don’t”.
What will happen when you die, I ask, or are you immortal?
“Whatever you say, I am not buying life insurance or taking out a will.”
Perhaps you take the view that you shouldn’t pass your wealth on, because it would spoil your children?
“Yes, that’s right.”
I suppose, you are also not interested in how to create value for your business, so you can sell it, later.
“Yes, I am happy.”
These days there is a variety of legal documentation that can be put in place to protect families, unlike life insurance which can be quite cheap, this documentation can be costly.
It is a price worth paying (unless your immortal).
To achieve true financial success and pass your wealth onto the next generation intact, Contact Us, we provide advice centred around the Laws of Succession, advice that can be acted upon or ignored.
A small investment of your time and money will prove beneficial in the long run. For complete peace of mind contact us on 01189 347 920.
