Legacy planning is a lifelong endeavor that requires patience discipline a strong work ethic and proficiency when it comes to the subject of money and taxes.Being “wealthy” should not only be defined in numerical terms. Otherwise what good does having a lot of money do for the people who are unable to enjoy it because they are not in good physical or psychological health?For example we have all heard about celebrity athletes who despite having earned millions of dollars while playing professional sports find themselves in bankruptcy.
A myriad of problems may have led to their financial ruin: marital infidelity resulting in divorce hefty alimony settlements financial illiteracy out-of-control spending poor investment choices getting swindled byunscrupulous business managers etc.Financial Literacy Must Be Passed Down Like An InheritanceBeing “wealthy” must entail more than having millions of dollars.Ever hear of a person who won the Lotto only to have nothing to show for it a few short years after winning?According to a 2006 report published by the Camelot Group 44 percent of Lotto winners spend their entire winnings in five years.For the wealth to last and leave a legacy for the next generation consumers must have a sustainable plan to ensure the longevity of wealth.Looking at the African-American community a major area where we need to improve in to strengthen our ability to create and sustain wealth is becoming financially literate….
The Money Protocols by Mr Richard Medley, published in 2021 by Independently published (June 12, 2021), is an essential read for enthusiasts of Business & Money, Economics Books. Spanning 60 pages, this book delves into topics of Money, Wealth, offering a comprehensive and insightful exploration. With its detailed analysis and engaging content, it stands as a testament to the expertise of Mr Richard Medley. Whether you are a student, a professional, or simply a curious reader, this book, with its unique ASIN B096TJQRDW and ISBN 9798710199145, is an invaluable addition to your library.