Apogee Strong

Rachel Marshall: Building a Legacy - Strategies for Passing on Wealth and Values


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Creating financial security for your family often feels like a complex journey, with numerous choices and potential trade-offs along the way. Many people find it tricky to balance day-to-day expenses with the goal of building long-term savings and investments. Starting with small, steady efforts—such as budgeting, managing debt, and setting aside funds for the future—can gradually build momentum. With a clear vision and thoughtful planning, you can work toward a stable, prosperous foundation that supports your family’s financial well-being.

Rachel Marshall is an entrepreneur, mother of three, and a passionate advocate for family legacy planning. With over 18 years of marriage to her husband Lucas, Rachel has navigated the challenges of balancing business and parenthood. Today, Rachel shares her personal journey, including a near-death experience during the birth of her second child, which sparked a profound shift in her family's priorities. Join in as young leaders pose inquiries about life, personal development, and beyond!

Quotes:

  • “If you remain open to conversation, learning, and keep an open mind, you'll experience growth in many areas. Your capacity will expand, leading to wonderful relationships and great opportunities as a result.” – Rachel Marshall
  • “If you start that discipline early, it's much easier to maintain. Most people say they'll start saving when they make more money, but the challenge is that you'll likely feel the same way even when your income increases.” – Rachel Marshall
  • “Money doesn't create our identity or satisfy any deep longing within us, but we often believe it does and repeatedly look to it to solve those issues.” – Rachel Marshall
  • Takeaways:

    • Prioritize saving and building a "foundational wealth habit" - aim to save 20-30% of your income, even if you start small. Celebrate your savings growth with your family.
    • Explore the concept of "infinite banking" and how whole life insurance can be used as a tool for safe, liquid, and growing capital that you control.
    • Involve your children in financial conversations and decisions early on. Teach them about earning, saving, spending, giving, and investing through hands-on experience.
    • Create a family constitution or guidance system to document your family's mission, values, and legacy planning goals. This can help align your children to your long-term vision.
    • Consider partnering with your children on future business or investment opportunities. Matching their savings can be a powerful way to build multi-generational wealth.
    • Conclusion:

      A well-rounded financial strategy that effectively balances saving, investing, and the use of suitable financial tools is essential for reaching personal financial goals. By combining these elements, individuals can build security for the future, make the most of their assets, and manage risk. Thoughtful planning allows for both immediate needs and long-term aspirations, creating a foundation for financial resilience.

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      Apogee StrongBy Matt Beaudreau

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