Crafting an Eternal Mark: Building a Legacy for Your Kids and Beyond

Are you looking to leave a lasting legacy for yourself, your loved ones, or the world? There are many ways that you can create a legacy to be proud of and pass down to future generations. In this podcast episode, we explore how you can create and leave a lasting legacy. Learn strategies for planning your estate, investing wisely with long-term goals in mind, and giving back to society in meaningful ways. Our guest speakers will share their personal stories and advice on creating a lasting legacy that leaves an impact beyond our own generation. Tune in now to start creating your own legacy!

Transcript

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[00:00:00] Hello world and welcome back to season two of unpacking podcasts. Wow, that sounds so funny to say, but so good to say. At the same time, starting a lifestyle podcast was inevitable for me. My whole life is a lifestyle. I love to travel. Go to exotic restaurants. Learn new things, experience new things in life.

So this podcast fitted right into the dynamics of my life. I also write books. [00:01:00] I have a blog website, so it all correlates together. Now, a few weeks ago, I was sponsored to go to a podcast festival in Orlando, Florida, one of the biggest podcast festivals called podfest. Thousands of podcasters and business people, major networking, learning new things, creating new experiences.

And I also have a few business endeavors with a few people that I met. So yes, just in that short period from starting a podcast in December to now it's March and just skyrocketing from there. It's just I know that this is a part of my destiny. So with season two, I plan to just keep learning, keep growing, and keep getting better.

And thank you so much for your listening and your tuning in. I very, so much Appreciate it. So with that being said, I am so excited to introduce our new segment to [00:02:00] the show. It's , called Best of the Day. Every episode, this segment will feature a different theme such as Song of the Day, the book of the day, a person of the day, a quote of the day, a movie

a mood or almost any other lifestyle topic that can be included as a highlight for the day. I personally believe each day we should set the day to have a great day, like setting your attentions as I know life does happen, but I'm gonna stay on the higher end of it and just continue on with the topics.

So for each episode, when you tune in, it's going to be a highlight for the day that's going to entertain you and correlate with the topic at hand just to make it a little bit more interesting. Thank you so much for listening. Season two, episode one. Let's go. 

Today's Best of the Day Segment looks at the Song Legacy, which happens to be one of my favorite songs.

It's [00:03:00] by the one and only Jay-Z Rap icon, entrepreneur and Cultural Phenomenon.

This incredible track contains many hidden gems and teachable moments that relate to creating a legacy for future generations. investing in your children's future, and leaving indoor mark on this world, we can all learn something. From Jay-Z's message of resilience, hope, and progress in its timeless.

Classic. Jay-Z Song Legacy inspires listeners to leave a lasting impact on the world and invest in their children's future. Through his lyrics, Jay-Z paints a vivid picture of his life story. Emphasizing the importance of legacy building and continuous progress. The soul underlines the importance of hard work and sacrifice to make a difference in the lives of others, and ensure that our children inherit a better world than what we have today.

What lyrics like [00:04:00] I see us in 100 years leaving something that'll last through all phases. 

Jay-Z encourages us to use our resources wisely to work toward creating a lasting legacy and secure our children's future, and also encourages audiences to think about how their actions today can contribute positively to their family's legacy and create a better world for those who come after them.

This message is further reinforced with lines like, "My concern has been why the kids won't have enough, and that should be your priority, not money and luck". 

These lines lay focusing on providing our children with opportunities, resources, and knowledge that will allow them to thrive as opposed to relying solely on luck or financial gains. All in all, Jay-Z's song Legacy serves as an inspiring reminder of the importance of creating a legacy and building a better world for our children.

Creating a lasting legacy for your children in the [00:05:00] world is one of life's greatest gifts. It's a way of ensuring that even after you're gone, your values, your experiences, and your hard work will live on through those you love. When it comes to leaving a marking life, the most important thing is to make sure that whatever you do it is something that will positively impact those around you and benefit society as a whole.

Whether this means starting a charity foundation or supporting an important cause, creating a positive legacy is something that.

Creating a positive legacy is something that can benefit future generations and make the world better for everyone. Living an authentic life is one of the most powerful ways to do so. Authentic living means reflecting on your values, beliefs, and purpose in life, and then acting accordingly. Writing or record in a journal is another great way to leave a legacy that will last for [00:06:00] generations to come.

Not only does it express your unique experiences and thoughts, but it also serves as a record of times gone by. Finally, commitment to your family enthusiastically is one of the best gifts you can give them. Showing up to events, making memories together, and cheering each other on during challenges are all small ways of showing your commitment to them would last.

One option that is useful to give to others is to share your wisdom and experiences through writing books as well as through in a charity or foundation that supports an important cause. You can also volunteer your time, skills, and resources to those in need. If you have any special talents such as singing, drawing, or dancing, consider using them to inspire future generations.

Finally, financial gifts such as setting up college funds for your younger family members can go a long way in helping them achieve their dreams. [00:07:00] Investing in your children's future is not just a financial decision. It is an act of love.

By providing them with the tools, skills, and resources necessary to lead successful and fulfilled lives, you are giving them the best chance at success. 

 Leaving a legacy behind through your teaching, generosity and example, you are helping to ensure that future generations have access to the same opportunities as those who were privileged enough to receive your own education and influence. It is an investment that pays dividends far into the future. Leaving a legacy behind for your family is one of the most important gifts you can give them.

It's a way to ensure that your values, experiences, and hard work live on after you are gone. While there are many ways to leave a lasting legacy, one of the most valuable is [00:08:00] ensuring that whatever it may be, it will bring joy and benefit to those around you. 

Not only does this create something meaningful for your family to look back on, but it also shows them how much you truly cared about them and their future. This can ensure that families can stay connected even in your absence, allowing them to reminisce about shared memories and pass down their cherish values from generation to generation.

Ultimately, there are many ways to invest in your children's future, and the right approach may vary depending on your family's dynamics and goals. Here are a few more ideas

establish savings and accounts or other financial vehicles that will help guide them financially. supporting their education by investing in tuition, books, and other educational resources, taking part in extracurricular activities that can teach them important skills such as problem solving and teamwork. [00:09:00] From scouting to robotics competitions, there are many opportunities for children to get involved in activities outside of the academic classroom that can teach them about problem solving and teamwork.

Participating in sports is a great way for children to learn the importance of working together as a team and understanding how everyone has their own unique abilities that come together to form a bigger picture. Additionally, activities such as chess and other strategy games can help kids develop their problem solving skills.

hands on projects such as crafts or tinkering with small machines can also teach children important skills such as data analysts and creative thinking. Working on larger projects such as plays or musicals gives kids the opportunity to collaborate with each other while forming effective communication strategies. 

No matter which type of [00:10:00] extracurricular activity they choose any child who takes part in one, will benefit from it by learning valuable lessons about problem solving and teamwork. Another option is to provide guidance and mentorship that will equip them for the best chance at success in life.

Listen to your child. Encourage your child to share their thoughts and feelings and make sure you are truly listening. This will help foster a strong bond and create a safe environment for open communication, providing structure, establishing routine rules and expectations for behaviors, schoolwork, et cetera, that will provide stability in their lives.

Teach responsibility. Encourage your child to take ownership of their actions and decisions so that they start developing a sense of independence early on in life. Spend quality time with your child, be it watching a movie together or going on an [00:11:00] adventure outdoors.

Quality time with family helps build meaningful relationships over the years. Also, valuing education. Help them stay motivated in academics by supporting their interests and making sure they understand the importance of education as the key, as the key to future success. Foster. , give them space to explore different hobbies or activities that pique their interests and help boost their creative thinking skills.

From a young age. Practicing SafeCare modeling healthy habits can have a long-lasting impact on your child's lifestyle choices as an adult. Balance, nutrition, adequate sleep, as well as having fun. Another great one is in incorporate and travel into your own life so they can see different parts of the world gain global perspective and respect for [00:12:00] different cultures.

 Creating the lasting legacy of family, togetherness and love is very important, and that doesn't happen overnight. It takes hard work, dedication, and regular maintenance. Going on regular outs and vacations together can help foster strong family relationships and build lifelong memories, attending important events such as , graduations, recitals, and sporting games shows your children that you care about their interests, accomplishments, and their hobbies. Cheering each other on during challenging times gives everyone the support that they need to get through tough situations. Finally, making meals together can create an atmosphere of intimacy and connection while passing down important culinary knowledge amongst generations.

These activities, they may seem small. But they will make a difference when it comes to creating a lasting legacy of love within your family. [00:13:00] Another incredible way to add value to you and your loved one's life is write in a legacy letter. Write in a legacy letter, creates a lasting memory and impact on others.

A legacy letter can be used to express your values, beliefs, hopes and dreams for the future generations. It can also be used to share stories and memories that you would like to pass down. By writing a legacy letter, you are leaving behind a gift that will continue to live on long after you've gone.

Also, it is a great way to communicate your wishes and values to future generat. , here are some topics you can consider when creating the letter invested in your children's future. What goals do you have for them and how will they benefit from your investments? Create an a lasting impact. How do you wanna be remembered by your children?

And what kind of legacy would you like to leave [00:14:00] giving back to the. What kind of philanthropy or volunteerism projects would you like to encourage? Encouraging your family education. How important is education for success in life, and how can it improve the world? empowerment. What activities and experiences can empower your children's growth and help them make positive changes in their lives?

Technology. How will technology affect the future generations and what role should parents play in shaping its development?

Now moving forward, I wanna talk about hiring your children. If you have a business or self-employment, you shall always speak to a tax advisor and be aware of the state and federal. A huge resource that will be beneficial for your family and children in particular if you have a business that you own, is to hire your children to work for you. Growing a business [00:15:00] often means making decisions that can benefit generations to come.

Once such decision is hiring your children, even when they're under the age of 18. Hiring family for a business brings with it numerous advantages. , not only does it provide an opportunity for the parents to teach their values and instill their work ethic to the next generation, but it also provides young people with a valuable skills and experiences that can last a lifetime.

It also ensures that the family's legacy remains alive and well.

When hiring underage children, there must be certain precautions in place. , the safety of any child shall always be the top priority in any work situation. Parents should ensure that they have clear communication with their child regarding expectations, as well as providing additional guidance and support when needed.

 Hiring your children to join you in your business is not only beneficial to them, [00:16:00] but it also helps keep the legacy of your family alive for years to come. Not only will this create lasting memories for those involved, but it will also help future generations understand how hard work can lead to success in life and business.

Additionally, hiring your children and your business can save you taxes, and it's also a great way to invest in their future. By hiring your child to work for you, they receive the same benefits as any other employee, such as retirement savings, social security contributions, and health insurance coverage. This income can then be used to help fund their education or save retirement.

Furthermore, The wages paid to your children are deductible from your business taxable income. As a result, you can use this additional disposable income to further invest in their future, whether through college tuition fees, or investments in stocks and bonds that enhance their financial [00:17:00] security.

When you hire your child to working in business, you can take advantage of a number of tax benefits. For example, you can deduct their wages from your taxes and avoid self-employment taxes. You may also be eligible to receive the child tax credit or earned income tax credit.

Additionally, if they are under 18, when they start working for you, you may avoid paying Fica taxes on their wages. Finally, their earnest will be taxed at a much lower rate than yours, which could mean more money in your pocket.

Your child can work for you tax free for up to around $12,000. If your business is a sole proprietorship, a single member LLC or an l c tax as a partnership and owned by you and your. 

 Hiring your children for business related tasks can offer many advantages such as tax savings and teachable valuable lessons. In order to make [00:18:00] sure that employment is legitimate, it is important to abide by state and federal labor laws. This will help ensure that you create positive memories together while also taking advantage of the financial benefits. 

Additionally, employers should take advantage of the financial benefits while creating positive memories together with their children. It is also recommended to implement other best practices such as setting and workplace guidelines, and providing training or instruction as needed.

 If you plan to employ your child, they should be doing real work in line with IRS tax and legal requirements. This means that any task related to the business is considered real work. It is not possible to pay a wage to a child who is not actively working for the business or taking care of personal errands for you. Here is a list of tasks suitable for child labor, organizing and [00:19:00] stocking shelves, gardening and landscaping, caring for farm animals, serving food in restaurants, filing paperwork, operating small machinery, cleaning office spaces, mowing lawns, and delivering newspapers or packages. Teaching your children about financial literacy is an important responsibility that parents and guardians need to take seriously.

Knowing how to budget, manage debt and invest early can help set your children up for the rest of their lives. Encouraging your children to save money, invest in stocks or mutual funds, and understand the fundamentals of investing can help them become more self-sufficient down the line.

Additionally, by investing early on in their lives, your children can benefit from compounding over time, meaning their investments can have more [00:20:00] time to grow exponentially as opposed to starting later on in life. By educating your children about financial literacy, now you are giving them valuable resources for a successful future.

 However, creating and leaving a lasting legacy does not have to be about material possessions. There are many ways to create an impactful legacy that will continue to exist even after you are gone 

from teaching others the skills you possess. Advocating for important causes or finder, creative ways to give back as you go through life. Never underestimate the power of giving back and creating a mark on this world that will live on long after your physical body is. , 

 One of the greatest rewards of helping others is the sense of satisfaction that comes from knowing that you have made a difference. It can be incredibly rewarding to lend a helping hand, no matter how small it might seem in the grand scheme of things. Helping others provides an [00:21:00] emotional boost as well as an intrinsic feeling of accomplishment and self-worth. Also, when we help another person, it often sets off a domino effect in which more people are inspired to do good for others, thus creating a ripple effect that has the power to change lives and make the world better.

 Crafting an internal mark in building a legacy , for our kids and beyond is essential to ensure a prosperous future. In this episode of Unpacking Show season two, episode one, we explored how to best use our resources and take action to pass on something meaningful to the next generation from leaving behind a financial legacy to something as small as plant in a tree.

. Every action taken matters. Let's work together to make sure that our loved ones have the tools they need in order to thrive, because what better gift could there be? Thank you for supporting and listening. 

[00:22:00] Unpacking life from mindset to motivation and everything in between. Welcome to Unpacking Podcast, the Lifestyle podcast.