there are several very powerful uh asset optimization and generational wealth Concepts that I uh teach in my various classes and in my book entitlement abolition I want to gift you a copy at the end of this episode absolutely free uh but uh one of the concepts I'm going to address in this episode is the first false belief pattern out of three and that is that equal distribution is the fairest way to treat those that you care about uh you're going to be shocked with what I share with you so I'm Doug Andrew I've been a financial strategist and a retirement planning specialist now for five decades helping thousands of Americans optimize their assets minimize tax Empower their authentic wealth prepare for retirement but um a lot of people that have come to me are very very successful and uh they are distraught they're forlorn in their later years because uh they went out and worked really really hard and they amassed a nice uh fortune and they thought they were doing their children and now their grandchildren a favor uh by uh leaving behind you know money or giving money away and then all of a sudden they were shocked when their kids and grandkids said oh uh can I have uh Grandpa dad will you pay for uh when do I get my share and uh this is called ement and then they would come to me and say uh I think I've been doing things wrong Doug I've got to I got to undo this entitlement mindset so it motivated me to write the book entitlement abolition and uh this is the first false belief pattern that I find uh when people come to me and that's that uh equal distribution is the fairest way to treat those that you care about and uh this is a surprise to a lot of people so when I State this in my education seminars uh people go well Doug what are you talking about here I thought that equal distribution is fair well this is where I usually ask my audiences um so how many of you people uh here have a trust now in California about 70% of people have a trust uh in my home state of Utah only about 30% of people have a trust but regardless I say how many have a will or whatever okay and then I say I guarantee that your children uh will never read that document except one page that says how much they get and I also assure you that the vast majority of trusts out there are equal distribution trusts in other words uh you went into to meet with the attorney and after about 15 minutes of small talk where you nodded up and down uh acknowledging you understood some legal jargon that maybe you didn't uh the attorney then would find find out your net worth and then what's the first question they would ask how many kids have you got cuz what are they going to start doing they're going to start uh dividing it up and that's the number one rule if you want to destroy divide and conquer no united we stand divided we fault and so uh they set up a trust with equal distribution rules of governance meaning uh that when you die you and your spouse pass away uh all of a sudden chunk chunk chunk chunk chunk they divide it up and uh it gets dumped in your kids' laps and it ruins about half of the kids in this country and and they go when do I get my share well uh this is called equal distribution and many times that method is actually killing the goose laying the golden eggs in other words uh well we have to be fair so we're going to have to sell uh the assets we're going to have to sell the real estate holdings we're going to have to sell the business uh in order to divide it up equally otherwise how do you divide up the business or whatever because the they they think they have to divide it up in order to be fair and so many times the inheritance gets dwindled down because it's not a good time to sell H they have to sell at a discount price and uh I hear horror stories uh of how it tore many many families apart where all of a sudden uh they're going golly our family went from uh we to me when do I get my sh and that's why the subtitle of my book is how to lead your family from me me me to we together we're better okay so let's go a little bit deeper into this concept here regardless of its complexity I have found the traditional financial and Estate Planning in this country is a process of these four DS so that when you die uh they divide up uh the assets and then they defer some of them thinking by postponing their saving tax attacks which is usually not what happens and then it gets distributed or dumped on ill-prepared heirs and then it it dissipates uh it disappears just like the story of the Vanderbilt family that I talk about in the book and that's on another episode in this series and so this is where this wealth is transferred Without A system that Fosters responsibility and accountability but it's more than just the money it's also the knowledge attitude skills and habits but uh when I quote Abraham Lincoln or or Robert Frost they they start rethinking their thinking because Abraham Lincoln said the worst thing you can do for those uh you love is the things they can do for themselves but we think we're helping them by rescuing them by bailing them out by giving them things and uh the way that I teach this to our uh children and grandchildren at our annual Grandpa's Camp is we give them usually a jar every few few years at Grandpa's camp with five caterpillars in each jar and they watch it awe as those caterpillars make their cocoon their chrysis and then I tell them in about two weeks uh that's going to begin to emerge in the measure of its full creation as a monarch butterfly and it will be struggling and you will be very tempted to help it out but if you do it will die now what's my point here is the same thing happens with the little baby chick uh Mom and Dad Grandma Grandpa uh when you're struggling uh don't take the victim role don't be a clam on the bottom of the ocean waiting for Plankton to flate uh float to you uh America has an eagle on the flag pole be in motion add value respond to any setback with all your ability and a higher power will make up the difference is the way we teach our kids and grandkids you want to be responsible and accountable okay that's that's what responsible means responding with all your ability responsibility when well uh by doing that then you don't want to kill your kids and grandkids and so uh we'll be there uh if you're struggling to give you a hand up but never a hand out and they never forget that well Dr Frost uh Robert Frost said every affluent father wishes he knew how to give his sons the hardships that made him Rich well yeah but uh we don't want to see them suffer get hurt and all too often we think we're helping them when they're hindering them uh there's a a book that is titled uh when helping actually hurts okay we don't want to intentionally hurt our children but sometimes we we do that and so what's the solution and we're talking about here it's the difference between equal opportunity versus equal distribution and when I make this statement sometimes people take offense at first until I explain it there's nothing more unequal than the equal distribution to unequals and people go what so let let me explain it this way I'm I'm Christian okay uh I do not uh believe our creator because I believe in a higher power I do not believe our creator uh gives uh equal distribution of blessings let's say of Health to all of us regardless of how some of us including myself may choose to abuse our bodies no our creator doesn't go I'm fair so I'm going to give you the same Health as these people over here who are exercising they're eating right they're taking care of their Temple uh because I'm fair I'm going to give you the same Health even though you have horrible habits and uh you're abusing your body uh because that's fairness no that's false fairness Doctrine that's not fair our creator gives us equal opportunities not equal distribution okay uh it's our responsibility for our own health it's our responsibility for our own retirement it's our respons responsibility uh to uh take care of ourselves our family instead of relying on the government and what have you and so this is called equal opportunities so I recommend that uh we first of all live you got to walk your talk uh don't surprise your kids uh when you die and all of a sudden they go what you disinherited us no they're not going to expect a lump sum of money because uh you have not been doing that any time before you're living your identifying your core values in your family what you stand for and you establish a vision and principle so how do you do that well first of all uh you live by the governing principles of equal opportunities you give your children grandchildren equal opportunities if they need help with a a college education or to buy a car or down payment on a home or to start a business uh you loan them money or you match them dollar for dooll on a scholarship requires some skin in the game if they can't pay you back with money uh give them the dignity to be able to uh pay for it another way mowing lawns painting shampooing carpets it's not just a handout okay this is the real world and so you're you're giving them a hand up and not a hand out does that make sense and so when you live that way they're not going to expect U uh this big endowment when you die and so in the book uh entitlement abolition I talk about this in section one of this book that I'm going to gift you at the end of this episode but what I'm talking about is creating maybe a family motto slogan laws Manifesto Creed a values and vision Clarity statement you'll read mine you don't have to have all of these I mean sometimes the motto can be together we're better or together everyone achieves more but our values and vision document is three pages but I assure you uh my kids and grandkids will read and reread that they'll watch and rewatch my video of that they'll listen and relisten uh for Generations they're not going to read my trust okay I could give you an 8 and half by 11 sheet of paper that you'll see in this book and uh if you just pushed record on your smartphone and read the question and answered it off the cuff in about 90 minutes I will capture things uh that your PO posterity will will watch and rewatch for Generations they're not going to read your trust does that make sense so uh when we talk about entitlement abolition these are explained on pages 69 to 75 of the book so uh would you like to study this well the first step claim your free copy go to entitle and abolition book.com or click on the link below and you'll contribute a nominal amount towards the shipping and handling I require skin in the game just like I would my kids or grandkids I don't just give it to them free okay but I'll pay for the rest of that and I'll pay for the book I'll fire out a hard copy to you via priority mail but when you're in there claiming your free copy um there's option there if You' like to listen and learn or watch and learn also there's an 18-hour Master Class if you want to go into a deep dive and you really want to change uh uh your posterity but this is not about me uh this is about you your family those that you care about in your brighter future so claim your free copy now and begin to abolish that entitlement mindset teach responsibility and accountability and give your family equal opportunities not equal [Music] distribution
