The Shocking Secret that Successful Families Use to Continue Generational Wealth.

ABOUT THIS EPISODE

Today John interviews Cindy Arledge as she explains her journey and struggles as a family that started with her father during the depression era with essentially nothing and ended up building substantial wealth. She shares what she has learned from her own family struggles and from other families that she has helped. Cindy also reveals the shocking secret that allows successful families to continue their journey through many generations. You'll love this interview and learn a lot from it.

Welcome to the build your life podcast with John Browning. Build your life as a relaxed and unedited conversation with financial expert in number one Amazon best selling author, John Browning. John's the founder of Guardian Rock Wealth and serves clients across the United States. John's the author of the book build a life, not a portfolio, a guide to your financial future based on your personal values, which you can purchase on Amazon, or stay around to the end of today's show and I'll tell you how to get a free copy mailed right to your door. I'm Michael Delan Your House for the next few minutes as we chat with financial expert and business owner John Browning. Hello everyone, this is John Browning of the build your life podcast and I have with me today a special guest. Michael Delan is taking a well deserved vacation and her name is Cindy artelage and she's the founder and CEO of North Texas Family Enterprise Center. She's written for books and she's has a few more even now in her head and I'm really excited to learn the secret that she's going to share with that with us. I'm going to ask her this question a little bit later on, but Cindy, can you just give us a synopsis of WHO Cindy is, what you kind of do and introduce yourself to the podcast group today? Well, John, first of all, thank you for having me here. It is such a pleasure to spend time with you, and you know who I am. Is the youngest of four children of a family who started with nothing and managed to create a ten million dollar state before they passed away. And although my dad tried to prepare us and prepare me and it done every well, almost everything that the attorneys and CPA, the advice that he'd received.

He had done that and so he done everything new to do to he really wanted to create an empire for his family. I mean he really wanted, he really prided himself in creating this well and really wanting to help his grandkids and his family. and He'd been warning the Depression and, you know, lived in homes with no running water, electricity. I mean he really was poor growing up. He really wanted to provide this financial advantage for his family. That lasted forever and sadly, if you could just fast forward less than a decade, seventy five percent of the assets that my family had, they had created was already outside the family. And even more shocking and difficult to deal with is in the period after my mom and dad passed away, Lasso were filed. Relationship between my siblings and the family just imploded, and it was even more difficult to lose those relationships than lose my parents. And so I went into what is known as the Dark Knight of the soul and I ask God as like, what do you want me to learn from this? What am I supposed to do, and what did I do to deserve this? And so to me years to answer that question, those questions. And by the way, I didn't do anything to deserve it. It just, as you know, as part of life. But what I could do differently is discover what successful families do and do what they did. And then I was called to help other people. So I ended up walking five hundred miles across Spain to complete the Camino de Santiago to prove my formula for living, which got me out of my pont and then, in doing so, I witness my own healing and have written three, you know, books on this topic of the secret to creating lasting well, so that's who I am a person who really wants to help a me and families not have to go through what I went through. Okay, so let me go back a little bit...

...further. Five hundred miles walking, okay, all right, and I had I had planner fashioneda before I left. Oh well, that that just makes it. You know, with do good feet, I can't really imagine walking five hundred miles kind of day after day after day. That that had been quite the experience and I imagine of that life life changing, right, lad as, you as you mentioned. So that's pretty interesting. It's pretty interesting that you you. I know how difficult it is to write a book, because I've written. I've read in the book build a life, not a portfolio that anybody can call me and and get a copy of or or text the word life to twenty Onezero and get all my information there. But you've written, for you've walked five hundred miles across the mountains of Spain, right what was maltness, and then you get to hit the Misteta, which is the flat, and then you get to hit mountains again. So it's what it was. It was a it was a life changing journey, for sure. Well, certainly a lot of accomplishments that have happened and learned a lot along the way from that, from growing up in a family, and I am dying to know and would love to have your Auntie. Are you going to share the secret that high net worth families and successful families use? I think everybody wants to know the secret. But what's that secret? Well, and I will share the secret, and it's shocking and it's almost like the invention of a shirt pocket. You know, you think a shirt pocket is one of the greatest inventions in the world, right and it's like, well, of course it's great. So the secret is hiding in plain side and it makes total sense. But here's the run. Most people think they're doing a good enough job and they aren't. So here's the secret. Are you're ready? M Yes, ready. The secret that ultra high net worth families...

...used to create wealth is that they prepare the next generation and future generations to be successful wealth builders, to live in an abundance mindset and to develop their gifts and talents to serve the world's needs. Sounds almost res almost like a mission statement, and there's got to be a ton behind that. I'm sure they can get it in and one or all of your books. It's a little bit more detail on what that actually means, but it sounds like it really dovetails into this whole build your life, not just your portfolio, and building that lasting wealth idea. Is that where you're going with that? Just teaching, teaching maybe how to make decisions in order to continue that wealth? Is that a big part of it? It is. It is a part of it. And you know the other piece of this is it doesn't happen by accident. So when you know, I just love talking with people and my family's gotten used to me asking total strangers if they have a will, because most, and your Latt you know, like over fifty percent of adults don't have a will. And by asking that question I already know, and I wrote about it my first book, the curse of inheritance. You than avoid and acceptor or an anticipator, and so I know that if they don't have a will, already know they're in the avoider and and I really don't typically work with avoids because they're so afraid of death they can't even fathom trying to prepare their airs because they're too busy avoiding it. So I usually work with the anticipators, and the anticipators are families that have done everything they can legally, that done everything that they know to do, but they don't know that they could add one simple plan, which I call the legacy plan, to their existing plan. That makes all the difference and doesn't matter how bigger...

...small your portfolio is. Legacy planning would help any family, I would say, be a better family, and not that there's anything wrong with them, but to be the best version of their self. And, as you know, I mean you're an expert in helping families grow well with values. There's systems that we could put into place, and I say we, I don't do anything with the well side, but I work like a board of directors for a family that helps them provide the structure for future generations to buy wealth. I mean, you know you could. As a grandmother, I could spend Fifteenzero dollars and you tell me I could buy a product that would provide a million dollar retirement for all my grandkids. I really like I want to go back to one of the things that two of the things you said. What were the three things? First of all, you can name those again, because I think that's important. You're either in a void, an accept or, actor, are an anticipator, anticipator in the anticipators. All, that's your favorite one to work with, but you work of all three, of course, and I I found that to be true myself. I love that you put three things to it. And the other thing that you said that I think super important is it doesn't necessarily matter if you if you have a ten million dollar portfolio or much smaller one. It's still makes a lot of sense and can be really, really important to have. That is state plan in place, even if you feel, use that word feel. Really that's a really because it's not necessarily the truth. What we feel that you don't have enough money to qualify, but but you do, and there's super important to have in place one. As you know, a will is more than a will. It's a series of documents that protect you while you're alive...

...and transfer your stuff after gone. What it doesn't do is train your family how to make decisions. It doesn't train your family how to have a culture of unity. Of We over me, you know, if we had a thread, you and I could we break the thread with our finger, but if you would just even take two or three threads wrap them together. It's more difficult to break that threat. And so we with this legacy plan, we're able to create a culture of we over me that allows families to thrive. You know this. This covid situation to me, is highlighted the importance of the strength of the family, because families are the smallest economic unit of society and when we have weak, small economics units, small families that are, you know, financially insecure, we have a weak nation, we have a weak country, we have a weak world. But when we can can convince families to create wealth for themselves, because unfortunately, I say convinced, because a lot of people, for a lot of reasons, don't really work to become wealthy. But when we can create wealthy families, then we can create wealthy communities, then a strong nation and a strong world. So it's about creating small, strong economic units. This is this is this is something that I spend a lot of time on it and people who are followers of the Bible like podcast, know that I spend a lot of time month. Having your estate set up, having the will set up, and the importance of different types of trusts and family when you take family planning to an entirely new level, and I hope you are going to join me maybe for a series and maybe teach us a little bit more about the dynamics. A lot of times on this podcast we're talking about very specific tactics or strategies and it...

...gets a little bit granular. But and it talks about the money side of things or particular accounts or how you have an account titled Versus Not Titled and how that can affect things. This gets more into the real meat of the issue, which actually isn't all about the how you structure portfolio or find the financial plan itself. This gets into the meat and potatoes of how do you create that lasting plan and create something. You gave me a statistic before when we were talking, before, when we were recording, before we started the record button. There's only a certain number of families that have survived sort of the test of time. You remember of the stat that you gave me? Well, sadly it's less than ten percent of families are able to transfer well to their great grandkids. So it doesn't get they might get one generation, but getting that next one just it doesn't happen, because there's a connect. Why? Because we didn't have a legacy plan. Yeah, they didn't have the legacy plan in place. And you know, I tell people, having a legacy plan is like having a crystal ball to look into the future while you're alive and still have time to change things, and then you can create a different future because you didn't wait till you died to try to really change behavior from the grave. Right. And you know, one of the challenges, and I'm sure you experience this as well, is getting people to take action. I get this all the time. Someday, someday, I'll get the wheel. Some day I'll do that. It's on my list right right. Some day is the worst day because we don't know from one moment to the next what's going to happen. And one of the steps that we have...

...families do as we actually help them create a personal emergency preparedness plan, almost like a community resource plan, that there's a natural disaster, it's like a response team that can come, because you've got to make it easy for your family to help you when you're in need. You know the there's a and I apologize for not having a latest statistic, but like twenty six billion dollars worth of loss of product tiffany in this country from adult children. How to take all for work to be an unpaid caregiver for an aging parent? You're absolutely right. Yeah, yeah, it didn't have to be that way. I mean so this I can see. Planning is helpful to the entire family of all ages and and I know we don't have much time. If, if you don't mind, I'll share a funny story with you. My husband I had to Redo our will, so we took our then grandson that was about seven years old with us to the attorneys. We're having this conversation and we get in the car and and so I asked him, you know, so what did you get out of that meeting? And this little seven year old boy said they call me elmo because I couldn't say oh, mom, the German name for grandma. Se said ELMO. It doesn't sound like it's a good idea to give people a bunch of money at one time. HMM, that's very wise from a seven year old. That's a great way. You know, it's a great, great way to end it for today. But I really excited to talk more and and to do another episode with you. But this is Cindy our ledge. I hope everybody remembers this name. And what's the best way to get in touch with you? Sandy, you know the north technical there's two ways. Easiest way it's just got to cindy our ledgecom C I in dy Ar l edgecom and if you want to know more about the North Texas Family Enterprise Center, I love though I was able to get inti Feccom even one of those. You can reach me yet?...

All right, that's great. Well, as everybody knows who listens this podcast on a regular basis, this is not personal investment advice. For that you need to call me directly, and you can do that by texting l Ife, the Word Life, to twenty Onezero. You have all of my contact information and you can reach me also at W and WW, Guardian Rock wealthcom and there's a contact US page right there. and Cindy's been great to have you. I'm going to let you go now, but I really want to have you back on for another podcast where we can maybe teach somebody something else that they could take to the bank, so to speak. Yeah, you know, next time. Why are we talking about getting ready for the first family meeting. I love that idea. I love it and it doesn't matter if you ten million, ten million dollars, or even maybe it's a couple hundred thousand. What you need to start this process right. It's so important, it really is, and it's so rewarding and really kind of it sounds weird, but is it? It does have his challenges, but it is fun because the family that plays together stays together. That's true. That's true. I have six kids and I will say that has been the case. Yeah, all right, well, thanks a lot and we'll see you next time. Thank you, John. Have a great day. All right. By. By. Money really is a big part of our lives and John Browning can help you and your family learn how to keep money in the proper perspective. It's important, but it's only a tool that can help you build the life that you want. If you like, John Emeill you a free copy of his book build a life, not a portfolio. Go to John's website, Guardian Rock wealthcom, and click the contact US link and send your request. John Will Mell a copy of his book right to your door absolutely free. Thanks for listening to building your life podcast with John Browning. Be...

Sure to subscribe to this podcast so each new episode will be sent to you automagically when it's released. Have a terrific day. Nothing in this podcast should be construed as personal investment advice and past performance is no guarantee of future results. Investing is not appropriate for everyone. There is a risk of loss associated with investing in the markets. No representation or implication is being made that using any methodology or system will generate profits or insure freedom from losses. Please remember that investing carries risk. Guardian Rock Wealth LLC and it's affiliates are fiduciary investment advisors. Please consult with US or another experienced qualified investment advisor before making any investment decisions and or trying to implement any of the strategies and tactics we may discuss in any of our publications or podcasts.

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