BANK ON IT!
Imagine playing a game of chess. If you’re new to the game, you might be tempted to go on a spree, slaying more pieces than your opponent until you realize you’ve left yourself vulnerable to checkmate from just your opponent’s king and pawn.
In life, just like in chess, playing the long game can help you win
If you were to focus on the long-term vision instead, you’d take your time, get intentional, and delve into positional planning rather than quick attacks. Slowly sifting through potential moves and counter-moves can give you an advantage, helping you win the game.
Maintaining a long-term perspective doesn’t just apply to chess.
That kind of vision can make all the difference between a retirement filled with golden years of travel, time with family, and fulfillment…or scraping by on Social Security.
It can also ensure our families are headed for an abundant future, flourishing in all 3 Dimensions of Authentic Wealth, building on a strong base of values that are reinforced time and again in every aspect of life, over decades — united, rather than splintered by setbacks, challenges, and even greed.
Why Do We Fall Short?
So if we know that keeping a long-term view and making prudent decisions is wise, why do so many fall short?
Well, the short-term can be enticing.
It can grant instant gratification. It can bring notoriety. It doesn’t take forethought. And it’s often a lot more fun.
A farther perspective, on the other hand, takes a whole lot of patience.
It demands perseverance. It requires sacrifice. It’s often quiet and doesn’t garner attention. It takes planning. And yes, it can seem boring.
But it’s so worth it.
Look Ahead, Far Ahead
I co-wrote a book with Dr. Roy A. Hammond, called “Learning Curves.” In this book, we relate our experiences on the back of our Harley Davidsons to valuable life lessons.
One of my favorite passages is from Roy, when he shares that one of the most difficult lessons he had to learn was that the bike will go where you look, no matter where you plan to go in your mind.
He explains that if you’re headed down a straight stretch of road and begin to gaze too long at the scenery to your right, the bike will begin to drift to the right. The same is true if you focus for an extended time toward the left.
As you enter a turn, you must direct your eyes out of the turn as far as possible to the point where you want the bike to carry you; if you look down at where you are, you are in trouble. If you look to the side of the road during the turns, you’re in deeper trouble.
He explains that as we travel through life, it’s not enough to travel with good intentions, believing those intentions are our reality. Those around us do not live in the world of our intentions, they live in the world of what we actually do.
We may have meant to make a smooth, safe turn on our life’s path, but we were distracted by dishonesty, ill temper, pride, disloyalty, and the list goes on — and we end up in unwanted destinations.
So as you look at playing the long game in creating your family’s legacy, start with where you’re looking.
Clarify Your Values
Establish your Values & Vision for more family unity
It’s also important to get really clear on what matters most. This is where I’d recommend creating a Values & Vision Statement for your family.
As I explain in my book, “Entitlement Abolition,” a Values & Vision Statement becomes a guiding force, informing the decisions and actions you and your posterity make in all 3 Dimensions of Authentic Wealth.
I invite you to use our free tool for creating yours — it will help you outline what matters most to your family. For example, in the Foundational Dimension, you’ll be prompted to consider spirituality, ethics, leadership, communication skills, relationships, work ethic, community service, uplifting entertainment, outdoor adventures, Family Retreats with a Purpose, etc.
You’ll also explore values for your family’s Intellectual and Financial Dimensions. Once you have your Values & Vision Statement in place, you can share copies with each family member and keep it top of mind by revisiting it on Family Retreats With a Purpose.
This can help ensure you and your children and grandchildren don’t get distracted by short-term living, making less-than-stellar life choices, or worse — causing irreparable damage.
Instead, maintain that long-term vision and follow-through, which can lead to a lasting legacy of strength and joy.
Create Your Legacy Bank
With your Values & Vision in place, now you can start creating what we call your family’s Legacy Bank.
Starting your family’s Legacy Bank now can impact generations to come
The Legacy Bank is a conceptual bank — it’s essentially a repository for your family’s
Foundational, Intellectual, and Financial Dimension assets and rules of governance. It’s where your family can:
- Contribute your KASH (Knowledge, Attitudes, Skills and Habits)
- Take KASH distributions from others’ experiences and build on generational momentum
- Contribute cash (and loan repayments) in financial vehicles that provide liquidity, safety, predictable rates of return, and tax advantages
- Take cash distributions (grants, matching scholarships, or loans) from the family bank, according to the rules of governance you outline
- Create your Family Archives for preserving important documents and cherished memories, including:
- Your family’s Values & Vision Statement
- A copy of your Equal Opportunity Trust
- Life Sketches and I Remember When stories
- Other completed 3 Dimensional Wealth tools
- Photos, videos, and audio recordings
- And more
As a new year begins and the coming months are still a blank page, we invite you to make this a time you get even more intentional writing your family’s story of abundance.
Make sure to check out other goal-setting articles in the Winter issue of “3 Dimensional Wealth Living,” like “Your New Favorite Hack for Achieving Life’s Biggest Goals,” and “From Soccer to Scriptures.”
And to help you complete your Values & Vision Statement and other tools highlighted throughout this issue, I invite you to subscribe to our Legacy Masters course. In this 36-episode on-demand series, I walk you through the thinking, strategies, tools, and steps you need to help your family build an abundant future and create your Legacy Bank.
I wish you and your family all the best in the coming year as you embrace the values and goals that can help you “realize gains” and earn “compound interest” with your family’s Legacy Bank.
> Don’t miss out on the guidance and resources you need to help your family achieve more abundance this year — get the Legacy Masters course today! Click here to learn more.
