Have you ever thought about the intergenerational transfer of wealth, financial responsibility and contribution? The third generation of statistics on intergenerational wealth is frustrating. Basically, the first generation released the ass and created some great things. The second generation used knowledge and experience to consume businesses because they saw the professional ethics and creativity that the first generation performed. Now is the third generation, basically the key is handed over without the work and the company is dead. This is the mistake of the second generation of doctrine and the third generation of rights.
Why is this important to me?
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If you have a business and you are building your net worth and want to pass it, then this is very important to you. Do you know that 90% of the lottery winners went bankrupt within five years and eventually got worse than they started? This is even worse for former athletes. Athletes are good at what they do, they just think they have a good business because they have money. Just like athletics, creating wealth is a science that requires hard work/smart work and dedication.
Anyone said they would start a business and succeed without a job, which is the same as I said that I will start for the tail of the Dallas Cowboys. Both are very unrealistic, but most people don't think it's for business. Education is crucial in hard/smart work.
The Brower Quadrant is divided into three key sections. For the sake of time, I will define what the quadrant is and then touch how to start living.
1. What is the Brower quadrant? The Brower quadrant consists of four components. The first component is the "core." This is your special ability and your personal motivation. If you are a musician, athlete, artist or business person, the core is your definition. The "Experience" quadrant is all about defining you and your family. This is important and needs to be captured and placed in a story format. For example: My grandmother came to the country alone when he was 9 years old and crossed the Atlantic. With this in mind, most 9-year-olds today are not even allowed to go out in a good community after 5:00. Unfortunately, I was too young when I died, and I couldn't capture the whole story. Shape your personality and core experience needs to be captured and shared. They seem trivial to you, but they are important because they define your work and how you work.
Next is the "contribution" quadrant. This is where you instill a grateful attitude and open your heart. I realized that this is esoteric, but I can't tell you how many books I read and said the same thing. Basically this is Emerson's law of compensation - if you want more, then give more.
"Financial Quartet" is the currency and wealth preservation quadrant. Most real estate planners will only show you how to minimize tax liability and tell you how to distribute assets after a mess. Lee took a completely different approach and showed you how to continue to increase your finances through Family Empowered Bank and pass it on from generation to generation. The Brower Quadrant is a solution that inherits wealth across generations.
2. Why is the Brower Quadrant important? I talked about this above, but it needs to be repeated. Each quadrant can be considered an asset. Family knowledge and skill sets are often taken for granted and lost. Most hardworking businessmen lose their heirs. This also creates a relationship between family stress and tearing. I can personally prove this. Our cooperation with the extended family and the rights of one of our partners is absolutely despicable, separating the family and ultimately in court.
3. How does it work? Li said "the best family leader" in the subtitle of one chapter. This is not just a heritage plan. Leadership requires vision, clarity, action, communication, influence and many other attributes. Implementing the Brower quadrant requires a clear set of action plans that have been communicated and acted upon in each quadrant.
For those interested in saving and building wealth between generations, the Brower Quadrant is a must-read. Lee did a great job highlighting what was needed and providing additional resources. I started implementing some of the content in this book, and as the family and business grow, I will continue to implement all of this.
I hope you find this short video summary useful. The key to any new idea is to incorporate it into everyday life until it becomes a habit. Habits are formed in as little as 21 days. One thing you can learn from this book is the difference between family leadership and estate planning. These two concepts are very different, and estate planning is only a small part of family leadership and the Brower quadrant.
Orignal From: Book Excerpt: Brower Quadrant - Intentional Life - by Lee Brower
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