February 18, 2025

Family Banking Legacy

34 minutes

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: [email protected] | [email protected]

📞 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!

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