Ep 03 - When you die, what are you leaving behind? Leaving a legacy takes planning. In this episode of the Share the Wealth Show, we continue our conversation with Edmund Chien on what to do once you’re earning money actively and passively – How do you protect your wealth? And not just in your own lifetime, but for generations to come. Edmund gives tips, tools, terminology, and advice on the fundamental principles of intergenerational wealth.    Edmund Chien has over 15 years of experience managing money for high-net-worth investors, including serving as a senior partner of a private equity firm that managed ½ billion in assets. He is experienced in real estate syndications and was also a licensed stockbroker and life insurance advisor. In retirement, Edmund now focuses on coaching real estate syndicators in client relations.   ________________________________ FREE Discovery call for The Microfamily Investing Accelerator  https://calendly.com/noirvest/microfamilymavericks  ________________________________   [00:01 - 06:38] Get Money and Then Grow it While You Sleep  Check out part 1 of my interview with Edmund Chien! While you’re creating money on an active basis, you need to leverage it passively  How to make the most of tax breaks and benefits to grow your money What a PPP (Public-Private Partnership) is and how you can utilize it    [06:34 - 17:14] Advice on Establishing an Estate Plan or Trust How to turn today’s wealth into an intergenerational legacy The importance of curating your life and distancing yourself from negative influences around you  Retirement; having passive cashflow that meets your daily expenses The 3 phases of wealth building Why you need Life Insurance  It’s about protecting your wealth generator, not just your wallet Why you need living benefits as a young person [17:15 - 19:58] Using a Trust to Protect the Wealth of the Next Generation What is the concept of shirtsleeves to shirtsleeves and how do you protect against it?  90% of family offices fail by the third generation Create a trust with a holding company How to find trustworthy advisors to help you build and protect your wealth!    [19:59 - 23:54] Stay Tuned for More! Why mindset matters more than you may realize!  Stay tuned for the awesome guests we’ll have on the show    Key Quotes  “Forming a legacy is the third phase of [wealth]. So the first phase is getting a great job, getting a W2, learning how to make money, and being able to make money. And then the second phase is how to get money to work for you.” Edmund Chien    “There's this phenomenon in society that if you try to better yourself, especially from the people you're surrounded with, the people that are around you will try to drag you back down.” - Edmund Chien    “If you've noticed anything, in all three phases is to be continuously learning and improving your understanding of things.” - Edmund Chien      “One of the misnomers with life insurance is that there are many different ways to use it.  And there are many different types of life insurance.” - Edmund Chien  Connect with Edmund on LinkedIn and Instagram. Visit his website https://edmundchien.com    Let’s get connected!  You can find Nicole on

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