Lecture Notes: "Building Legacy with the Rockefeller Method"

Introduction

• Speaker: Garrett
• Team Members Present: Trisha, Matt, J, Michael
• Main Focus: The success of the book "What Would the Rockefellers Do?" and how it has impacted financial advisors and clients alike.
• Background: The journey of discovering and writing the book started in 2015, Las Vegas, inspired by Sheila, a CPA for the Rockefeller family.
• Objective: To teach how to create multi-generational wealth without creating 'trust fund babies'.

Garrett's Background

• From a non-wealthy background, family of coal miners.
• Entrepreneurial Journey: Started a car detailing business at 15, became Young Entrepreneur of the Year.
• Financial Curiosity: Began learning about investments at a young age.

Michael's Story

• From the motorcycle industry, pivoted to financial services.
• Challenges: Lost millions due to a failed investment, leading to a moment of personal crisis.
• Recovery: Used lessons learned to rebuild wealth and create a legacy.

The Rockefeller Method

• Key Concepts: Trusts and insurance as tools for creating lasting wealth.
• Focus on Education: Importance of teaching future generations values and financial literacy.
• Family Office and Retreats: Structures that help manage and perpetuate wealth.

Family Legacy Rings

1. Family Office: Coordinated financial strategies to manage and protect wealth.
2. Family Retreats: Rituals, traditions, and symbols to instill values.
3. Family Constitution: Documentation of family values and lessons for future generations.

The Legacy Planning Essentials

• Trusts: Revocable for those starting out, irrevocable for those with significant assets.
• Insurance: Properly structured whole life insurance as a tool for wealth preservation and growth.

Financial Efficiency

• Four I’s of Efficiency: IRS strategies, Interest reduction, Investment optimization, Insurance cost management.
• Investment Strategy: Focus on human life value and property value balance sheets.

Lessons from the Rockefeller and Vanderbilt Families

• Rockefellers: Structured wealth management led to sustained wealth.
• Vanderbilts: Lack of structure led to wealth dissipation.

Tools and Strategies

• Reverse Mortgages and Charitable Trusts as advanced strategies for unlocking wealth and reducing tax burdens.
• Cash Value in Insurance: Utilized as an opportunity fund and for market stability.

Conclusion

• Call to Action: Build a legacy that is about more than just money; it's about lasting love and values.
• Offer: Enrollment in a 30-day challenge and course to implement the Rockefeller Method.
  • Cost: $300, with a limited-time discount to $197.
• Tools Provided: AI-powered family constitution builder, interactive workbooks, access to planning specialists.

Q&A Highlights

• Questions about Implementation: Addressed concerns about timing, strategy, and specific personal situations.
• Personal Stories: Attendees shared their own journeys and how they relate to building a legacy.

Final Thoughts

• Participants encouraged to take immediate action to change their financial futures.
• The importance of preparing a family legacy that includes education, values, and financial planning.