“𝐃𝐨 𝐧𝐨𝐭 𝐚𝐝𝐯𝐨𝐜𝐚𝐭𝐞 𝐲𝐨𝐮𝐫 𝐫𝐞𝐬𝐩𝐨𝐧𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐲 𝐰𝐡𝐞𝐧 𝐭𝐡𝐞 𝐜𝐡𝐢𝐥𝐝 𝐭𝐮𝐫𝐧𝐬 𝟏𝟖, 𝐛𝐮𝐭 𝐩𝐚𝐫𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐞 𝐢𝐧 𝐭𝐡𝐞𝐢𝐫 𝐥𝐢𝐟𝐞 𝐦𝐢𝐧𝐝𝐟𝐮𝐥𝐥𝐲.”- 𝐆𝐢𝐧𝐨

On this episode, Rick and Gino talk about another interesting way to leverage permanent life insurance: to fund the entrepreneurial legacy of your kids or grandkids.

Times have changed, and so has the mindset of the upcoming generation.

Instead of taking the traditional 4-year college route, we're seeing that many of today's teens want to create an entrepreneurial legacy for themselves instead.

Where is your kid's head when it comes to their future and legacy?

College is a great way for continuing education and getting into the practicalities of life. However, it’s becoming the norm that not every child chooses that path. While many remain on the traditional route, more and more teens are now wanting to explore an entrepreneurial journey instead, with a focus on starting their own businesses.

Rick talks about how specially-designed permanent life insurance policies can be used if your child or grandchild chooses an entrepreneurial path.

Life insurance for children is most commonly purchased for its death benefits. Hence, many parents cannot sit with the idea of buying a policy for their kids. However, it’s important to remember the other side which is often missed, that it can support transforming the mindset of the child at the young age and help them think in terms of decades.

Keep an eye out for Rick and Teresa’s next book, The 100 Year Education, that dives further into this concept.

Key Moments: 00:00 Introduction 02:35 Leveraging whole life policy for kids’ entrepreneurial ventures 04:25 Creating an entrepreneurial legacy at the young age of 20 07:33 Do not advocate your responsibility when the child turns 18, but participate in their life mindfully 08:49 What is a permanent life insurance policy from a mutually owned insurance company? 11:03 Starting a specially-designed life insurance policy for your child or grandchild 16:22 Putting every dollar to risk is not recommended when it comes to your child’s future 19:00 Why is whole life worth it? The cash value! 19:45 Wrap-up

BUT MY KID WANTS TO GO TO COLLEGE: Our policies can help with both scenarios, regardless of what path your child or grandchild chooses. To learn more about leveraging a policy to pay for college, check out this video: https://100yearrei.com/leveraging-life-insurance-to-pay-for-college/

About The 100 Year Real Estate Investor The Whole Life Insurance Policies offered by the 100 Year Real Estate Investor are specially-designed. This means they work harder toward achieving your financial objectives, no matter what they may be. Check out this blog for 7 facts about our specially-designed strategies that may not be true about typical whole life policies: https://100yearrei.com/7-facts-about-specially-designed-whole-life-policies/

#financialplanning #college #entrepreneurship #teenagers #collegeplanning #startingabusiness #kidentrepreneur #familyplanning #100yearmindset #longtermthinking

About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate.

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We're here to help create multifamily entrepreneurs... Here's how: Brand New? Start Here: https://jakeandgino.mykajabi.com/free-wheelbarrowprofits Want To Get Into Multifamily Real Estate Or Scale Your Current Portfolio Faster? Apply to join our PREMIER MULTIFAMILY INVESTING COMMUNITY & MENTORSHIP PROGRAM. (*Note: Our community is not for beginner investors) 👉https://jakeandgino.com/apply About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company. They control over $250M in assets under management. They have created the Jake & Gino Premier Multifamily Community to teach others a simple three-step framework for investing in multifamily real estate. Connect with Jake & Gino on the social media platform you are most active on: https://jakeandgino.com/link-tree/