Episode 7: Family Banking Legacy – How to Keep Wealth for Generations
Welcome back to another episode of The IBC Guys Podcast! We’re Dave and Mike, and today we’re diving into a topic that’s close to our hearts—family banking and building a lasting financial legacy.
What We Covered in This Episode:
- Why generational wealth disappears – Ever heard the phrase “Shirt sleeves to shirt sleeves in three generations”? We break down why 70% of wealth is lost by the second generation and 98% is gone by the third—and more importantly, how to stop that from happening to your family.
- The financial literacy gap – Most parents don’t believe their kids are prepared to handle an inheritance. We discuss why financial education is key to ensuring wealth lasts.
- Biblical wisdom on legacy – We highlight Proverbs 13:22: “A good man leaves an inheritance to his children’s children.” It’s not just about leaving money; it’s about leaving knowledge, values, and a system that sustains wealth.
- How Infinite Banking helps – IBC isn’t just about life insurance; it’s about rerouting the money you’re already spending back into your family’s financial system.
- Real-life examples – We share how we’re setting up policies for our own kids, teaching them how to use their policies while they’re young so they have a foundation for financial success.
- The Rockefeller vs. Vanderbilt approach – Why one family built a multi-generational empire and the other lost it all—and what you can learn from them.
Take Action – What You Can Do Today:
- Start now. The best time to plant a tree was 20 years ago. The second-best time is today. Whether it’s a small policy or a full system, just get started.
- Educate your family. Teaching your kids financial literacy is just as important as leaving them money.
- Connect with us. We’re here to guide you every step of the way. If you have questions about how to set up your own Family Banking System, reach out!
📅 Schedule a Call with Us:
https://calendly.com/dave-familybankingsolutions/30min
📧 Email Us:
Dave@FamilyBankingSolutions.com |
Mike@FamilyBankingSolutions.com
📞 Call Us: 507-205-2284
📲 Follow Us on Social Media
Dave’s Facebook:
https://www.facebook.com/dave.parmerlee
Dave’s Instagram:
https://www.instagram.com/dave_ibcguys/
Dave’s Linkedin:
https://www.linkedin.com/in/david-parmerlee-121bb3293/
Mike’s Facebook:
https://www.facebook.com/profile.php?id=100090029017545
Mike’s Instagram:
https://www.instagram.com/mike_ibcguys/
Mike’s Linkedin:
https://www.linkedin.com/in/mike-stevens-962186336/
We love hearing from you—send us your questions, share this episode with a friend, and let’s build financial legacies that last for generations.
Thanks for tuning in! See you next time on The IBC Guys Podcast!
