Leaving a Legacy

A friend of mine mentioned the word Legacy to me today. For some reason the work stuck with me all day. I couldn’t get it out of my head. It’s something empowering about that 6 letter word. So I thought I would do some ‘research’. Before I begin, I would like to share with you how Webster defines the word ‘legacy’. Webster states that a legacy is a gift by will, especially of money or other personal property. Now what this means to me is that someone loved their family enough to pave a way for their FUTURE success(es). The person who leaves a legacy realizes that tomorrow is set by today’s intentions AND actions. The person who leaves a legacy understands that it’s not ok to have ‘just enough’. There needs to be room for excess.

In my ‘research’, I was lead to re-read a book entitled The Top 10 Distinctions Between Millionaires and the Middle Class written by Keith Cameron Smith. It’s a simple, short (112 pages) yet profound book about wealth and wealth creation. And if one would learn, adopt and use these 10 Distinctions they could easily leave a legacy.

The 10 Distinctions are:

1. Millionaires ask themselves empowering questions. The Middle Class ask themselves dis-empowering
questions.

2. Millionaires focus on increasing their net worth. The Middle Class focuses on increasing its paychecks.

3. Millionaires have multiple sources of income. The Middle Class has only one or two.

4. Millionaires believe they must be generous. The Middle Class believes it can’t afford to give.

5. Millionaires work for profit. The Middle Class work for wages.

6. Millionaires continually learn and grow. The Middle Class thinks learning ended with school (high
school)

7. Millionaires take calculated risks. The Middle Class is afraid to take risks.

8. Millionaires embrace change. The Middle Class is threatened by change.

9. Millionaires talk about ideas. The Middle Class talks about things and other people.

10. Millionaires think long term. The Middle Class thinks short term.

From these 10 Distinctions, you can clearly see that the difference between millionaires and the middle class is their mindset. Millionaires don’t waste time playing the role of a victim. They see themselves as Victors. Millionaires use money to create more money. Whereas the Middle Class use money to buy ‘stuff’. Millionaires see themselves as Legacy Leavers and the Middle Class see themselves in their ‘stuff’.

Think about people in history who everyone would consider wealthy, and you can begin to see what I mean. The Rockefellers, Carnegies, and Campbells are all wealthy families. Their wealth has lasted multiple generations. They left legacies. Why is this? What makes them so different from rest of the world? The difference is very simple. It’s knowledge. Wealthy people know how to create money. The Middle Class know how to get rid of money. Once you know how to create money, you can build sustainable wealth. The money never stops coming. If you have a reversal of fortune, it’s not a big deal. You just create more of it.

Perfect example is Donald Trump. Several years ago, Donald Trump was deeply in debt. But, oddly enough, he didn’t change his spending habits and he didn’t go away. Why not? Because Donald Trump understands how to create money. He understands the difference between ‘good’ debt and ‘bad’ debt. He has a wealth mentality. He is a ‘Legacy Leaver’.

I’ll leave you with a verse from King James Version Proverbs 13:22…”A good man leaveth an inheritance to his children’s children….”

Leaving a Legacy,
J-licious

© Copyright 2009/12/11  Jacque Keil All Rights Reserved