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If you want to build a financial legacy, wise decisions will make all the difference. While finances are a major factor in building a strong legacy, wisdom will help you manage it effectively. In this episode of The WealthBuilders Podcast, “How to Build a Financial Legacy Today,” WealthBuilders Vice President Karen Conrad welcomes special guest, real estate and finance expert, Dan Dyer to the show. Dan shares invaluable insights on strategic planning, wise investments, disciplined financial habits, and financial stability. Click here to listen to the podcast, or keep reading the shownotes before you listen.

Shownotes

Generational wealth is important.

  • The concept of generational wealth is crucial as it focuses on imparting wealth to future generations.
  • This involves more than just passing on assets.
  • It includes transferring the knowledge and skills to manage the inherited wealth effectively as well.
  • The transfer of wealth should not only be transactional but also devotional.
  • It is a holy trust given to us, which we are duty-bound to pass on to successive generations.
  • In 2 Samuel 13-19 we learn the story of Absalom, a man who had three sons but failed to pass on his legacy effectively. 
    • This teaches us that having a biological lineage isn’t enough.
    • Passing on a legacy requires a father’s heart and a desire for the betterment of future generations.

David’s Legacy Building Principles

  • In 1 Chronicles 22: David gives his son Solomon:
    • Provision
    • Preparation
    • History
    • Prophecy
    • A specific blessing
    • Specific instructions on what to do and how to build the temple, and people for his life.

Build a Legacy of Purpose and Provision

  • Legacy building is about passing on the means and the heart to manage what is being passed on.
  • The purpose of each generation is to fulfill a God-given purpose and to prepare the next generation for their purpose.
  • Anointings, blessings, and mandates are not just personal; they are generational.
  • God works through lineages and passes on His blessings from generation to generation.
  • We can impart our dreams to the next generation, and their vision will be shaped by our dreams.
  • Serving under godly leaders can impart their anointing and heritage upon us.

 Practical Steps towards Building a Legacy

  • One of the key steps towards building a legacy is providing resources. 
    • This includes assets that generate income and appreciate over time like real estate.
    • Such income-generating assets increase net worth and provide a steady income stream.
    • Money takes on the nature of its owner.
    • Teach children how to manage resources at an early age.
    • Pass on assets that produce income and appreciate over time.
  • The second step is creating a lineage with purpose.
    • Children are considered the heritage of the Lord.
    • Spend time investing in the next generation.
      • It is important to devote time to imparting knowledge and guiding them before we depart.
    • Discipleship is essential for passing on a legacy of faith.
  • The third step is sharing the wealth of wisdom, which is valued more than gold.
    • Transferring our testimonies and experiences, which are hard-earned wisdom, can equip the next generation to face challenges.
    • Wisdom is more precious than gold.
    • Share testimonies of God’s goodness with the next generation.
    • Encourage the next generation to seek wisdom from God.
  • A shift in mindset is necessary when discussing wealth.
  • It is not about the money in the bank, but about assets that produce income.
  • The Bible says that each day His mercies are new, and His grace is sufficient.
  • Do not be hard on yourself for past mistakes.
  • Instead, get started and watch the Lord maximize those moments.

If you are interested in learning more about building a financial legacy, join us at the upcoming WealthBuilders Conference 2024. Click here to learn more and get your tickets.