 Welcome back. Hi, society. How are y'all doing today? Super excited to continue our family bank conversation. You know, we had just spoken about some tips on how to start your family bank. And now we are actually going to focus on the Rockefellers in this conversation and a separate conversation. We will talk about the Vanderbilt. All right. So let's get started. And of course, I will drop the links in the description so that we can follow along on your own. But let's talk about the Rockefellers because we did mention them in our previous video. So the Rockefeller family is one of the most well-known families in US history. You may have heard of institutions such as the Rockefeller Center, Rockefeller University, you know, or maybe the Rockefeller Foundation. So they have a very long, sustained legacy. And for folks at this level, you know, especially once they get towards the end of their life, you know, they have so much wealth. They're really more concerned about their last name, what type of impact they have left on this earth before they leave. And I think we all should be thinking like that no matter if we don't have billions of dollars or not. Right. What are we really doing for others? You know, we should be we should have the mindset of service. And so what is something that we have accomplished on earth that is going to, you know, do something for the better good right for humanity. And so I think that's just something we should all just start thinking about outside of just working every day to make money. Okay. So how did it all start? Wow, the Rockefeller fortune began when John D. Rockefeller, again, it all starts with one person. So this one person can be you founded the standard oil company in 1870. The company would then go on to control 90% of US refineries and pipelines. According to the World Scholarship Forum, and of course, you can click on these links, Rockefeller became the richest man in the world. And one of the first to make billions. Okay, the family fortune was valued at over $600 billion in today's dollars. And the standard oil company would later evolve into ExxonMobil. So we all know ExxonMobil. Okay. These are the broad corporations that everyone knows today. The Rockefellers also developed one of the first major business trust keywords business trust, which controlled Chase Manhattan Bank, now known as Chase Bank. We all know Chase Bank. Okay. So a lot of institutions that they started then are still here today. They've been on to establish themselves as industrialists and philanthropists throughout the US history. So yes, they are definitely well known globally. So of course, how is it going? You know, the Rockefellers family network is currently valued at $8.4 billion, which is spread amongst over 70 heirs. Now, in the previous video when we talked about their family bank is stated that their family bank includes between 150 to 200 people. So maybe the 150 to 200 people or maybe the children of some of these 70. Okay, very possible. That would be that's an excellent question, right? So maybe ask somebody from the Rockefellers. Why is there a disparity in those numbers there? But Rockefellers himself is said to have gifted over $500 million in charities. Okay. And again, he's a big philanthropist, and they have funded projects ranging from the arts, the conversation, healthcare, international trade. You know, I just like how they're very diverse. And they specialize in many things, not just one area. So I like that. So if you are also that diverse person, I know I am. I love many things, right? You probably see me all on the internet like, oh my gosh, Nicole's a niche is a nationalist. I just think it's fun. You know, I think it's very fun. You know, my personality, you know, even when I go out to eat, you know, I'm always getting the platter, you know, that you can kind of get three or more things, you know, or I used to like to go and cruises a lot because it's kind of like the sampler. That's the word I'm looking for the sampler, where you get to get a taste of different islands for like eight hours, you know, any like, oh, you know, actually I do like the Grand Cayman, I'm going to come back and fly here. You know, so I like that too, that's just kind of fits my style. All right. But actually, David Rockefeller, you know, lived to the age 101. And he amassed over $3.3 billion. And then his son David junior now chairs the family foundation. Okay. So let's get into the Rockefeller estate plan. This is what we came here today to discuss. The majority of the family fortune was held into trust. Notice that it's more than one. So yes, you can have more than one trust. Okay, they have the 1934 family trust. And then in 1952 trust managed by Chase Bank. Both of these trust hold interest in the descendants of the standard oil company, plus other investments such as real estate. So I love this again you can incorporate everything to put them into this trust. The fortune amassed was so large that the family founded Rockefeller financial services, which enlist professional money managers to oversee the holding company. So of course they had to do this when we're talking about billions of dollars. But just like we just stated in a previous video, you can do the same thing to maybe on a lower scale if need be. Hey, I may have some billionaires in my audience. So you may not have to do that. That's totally awesome. But if you are maybe a millionaire and not the billionaire, maybe your family, you know, the, your foundation or holding company I should say, maybe a little bit smaller. Okay. And then or if you're maybe a six figure maybe your financial services company may be a little bit smaller, or maybe you have to outsource individuals to create that team like we spoke about in a previous video to be able to do some of the same things that they have here. So whatever we have to do, let's go ahead and do that to make it work. Okay, so we're talking about the Rockefeller financial services entity. Okay, this entity has five separate arms, each of them overseeing various wealth building keyword their wealth building activities such as investments venture capital family business family liability insurance and risk management. I love the keyword wealth building activities, because just because he made all this amount of money right. And then also, you know, the banking industry he just didn't stop there he could have been like you know I'm good, you know, but he didn't stop there he was like hey look I can venture off into other things so what are some other wealth building activities that I can get into. Okay, so this is something that is ongoing for them and this is what I really want us to start looking at when it comes to our lives, you know what are those areas in our lives that are going to be ongoing I think we have been taught since birth really to just specialize in one thing and be good at that one thing only it's like who limited us like that you know I don't know about you but when I read the Bible and they talk about you know the you know the talents you know the man with the 10 talents the one the five the 10 talents, you know the person who had the one he went and hit it. And they gave it to the guy who had the 10 you know what I'm saying so if you have many talents, you need to use all of those talents you don't have to just do one thing good and that's it for your whole life you know that what they have taught us is a way for us to be excellent employees right at a company, so we'll never leave so we can fit that function and do it well, you know for people like the Rockefellers to be successful in what they do, and I'm not saying that there's anything wrong with that strategy, if that works for you, but I want us to think big, just like the Rockefellers okay because this is very impressive here. So, if you are great at many things figure out how to do them all well if you need to get assistance in order to have help with that like they needed assistance right they're very talented very skilled, however, they still had to solicit assistance. You need to do that as well too. Okay, so you can therefore create more wealth building activities for you and your family for you and your heirs. Okay, so again going back into the first one was investments and investments can cover so much you know the stock market now crypto do not shy away from crypto. The whole language before on crypto was. Oh my gosh it's so bad it's so evil is money laundering assistance that it never was those things of course you're always going to have a bad element to anything right. But it was never those things but they just didn't want you in crypto at that time now that everything that they needed to put in place behind the scenes is in place. Now their communication about crypto their language towards crypto is more accepting is more welcoming is more like hey yes you need to get into it this is something for you because why they're about to roll out the CBD sees that they need for you to sign up for they need your buy in to participate in that system. Okay, so that's investments and venture capital this is really good to you know maybe you want to invest in some companies again. Right now we are in the greatest world transfer of our lifetime we're also in the great reset. And so maybe I should say the GR I don't know if I can say that online. But I don't know why because it's everywhere online okay and is they talk about it very openly so I don't think that's a bad word, but we are definitely in this particular GR. And, you know, either you're going to be on the winning and things are you going to be on the losing and things, and you can sit back and say I'm not going to do anything well then you've already picked aside to lose. So you definitely want to make sure that you do your research that you find out what this is all about, you know, what who the major players are, what companies are being created. And I think it's okay to be able to fulfill this new prophecy, if you will, for the people who are doing this for what's to come because it's going to look completely different as day and night by the year 2030 from what you see today. It's going to be one of these people who are just like, Oh, it's always been this way. It's always going to be this way. You know, we've had a 401 401k for a minute, and it's always looked this way. We've always been able to buy a house and have home ownership. It's always going to be this way. We've always had access to clean water. It's always going to be this way. I need for you to start thinking ahead, be futuristic, see what's being created to see what is coming. Okay, there's many laws that's coming down a pipeline really they're already here. I mean, seriously, they're already here. And so we'll talk about that as we continue with our videos. Again, family businesses. This is again, again, being your own bank, you can start to invest in family businesses. You know, maybe you have some really talented folks in your family, you know, how talented and skilled that they are, right, they come from your bloodline. Okay, so guess what they don't have to go to anyone else to give them permission or give them a yay or nay if they're going to invest in them, you can actually invest in them how amazing is that to be able to invest, you know, and your children and your nephews and your cousins, you know. And for their future, I think that's, I think it's wonderful. And then also the family liability insurance. Okay, insurance, you know, this is an insurance pays. So we're really big on that. And then risk management. This is something that I think a lot of people just don't even consider. Many people just see all the good things, you know, but they don't really consider the risk about any action that they take and because of the Rockefellers have such a massive wealth they have to consider the risk they have to, because again, this is a family bank so it's more than just one person, you know, who's on the line here. So again, they're thinking about an empire like 100 years from now, not just, you know, this year. Okay, and that's how we need to be to, you know, I know that when we were younger they would always ask you about your five year plan. But the Rockefellers are not talking about five year plans. Okay, I'm sorry to say this for peons and for employees. But that's just what it is. You know, these individuals are talking about 100 year plans. Okay. So this is what we need to be talking about to and how will you even be able to discuss 100 year plan, unless you know where the world is headed in 100 years. So this is why it's going to require more effort on your part. You can't sit back in place of play sports or watch sports or play games or just go on concerts and travel and all this stuff or whatever as fun as those things are that they have us trapped in. Right. You have to do those things to like how we talked about in a previous video, you can still go on vacation if you are doing business as well right now as the tax write off we need to be smart and wise like these individuals here. So if you are thinking about this, if you truly care about your family's future. Alright, so let's keep going. The Rockefeller method of the state planning has exceeded for over six generations. And if anyone has listened to any of my insurance presentations we talk about the third generational curse right as in the Bible and I also have it to when it comes to the Asian community as well. And there's is the fourth generational curse with them. Okay, but basically what we're talking about in the Bible. Or any either one it doesn't matter really it's that first generation, they have come from nothing. And they want a better life. So they are the hardest working people you will see working up from sun up to sundown have the best customer service. They are on it with their financials. They are the success stories. They are who you want everyone to model after. All right, they've had their children their children may even be participating with them and their family stores on their family farm. Right. They see the struggles that their parents have gone through in order to amass the fortune that they have. And guess what they are the recipients of it now. So, you know, sometimes like I just said, sometimes they will go into the family business sometimes they don't they may feel like is beneath them or they're just not interested in it. And so with the wealth that they have their dwindling that well so by the third generation is shirtless shirtless right there having to start from ground zero again. And guess what the Rockefeller said no to that plan. And so they actually created their family trust, you know their dynasty trust so that way they don't have that problem they make sure everyone is on board with their Constitution and this is what it says here. They're able to do this by carefully having a wonderful family Constitution, the key word here with irrevocable trust so you just can have, you know, some cousin come up and say hey I want to change this this this net. No, no, no, it doesn't work like that. Okay. In addition to family ensure that the trust remain well funded using the proceeds of life insurance policies for each passing family member. You know, this is something that sometimes I feel we don't want to talk about in our community which is death. And we always say, what is let's always guarantee death and taxes, right. And we want to say tax guarantee with some people rather be homeless and pay taxes you know what I mean so the only thing that's really guaranteed is death. And so since we know that that's guaranteed. It's like why not use that as a wealth building opportunity for your family. You know it's not more of it to talk about these things to me it's a beautiful thing to be able to talk about a full generation to show your appreciation to show your love I always say that insurance is love, because it's something. Most times that you're not able to tap into, but you're leaving it for those that you love you don't want them starting off with zero every generation, we have to get out of that negative cycle because you know once you do something repetitively over so many times, it just becomes a part of your character it becomes of who you are. And sadly that has become a part of who our families are of what are who our last names are, and we're just passing these bad traditions down. And we have to it just takes one person just like the Rockefeller just takes one person to say no to that plan. And I don't know about you but I'm not with that plan. And so my thing is I want you or those who are interested and not being a part of that plan to start your journey into life insurance. I know I was reading power now mix. And Dr Claude Anderson who's the author of power now makes a wonderful author, who's very passionate about the black community, one of our living legends absolutely respect him love him. And the Ford I believe of the book is stated that one way the black community has been kept out of well is due to not having access to life insurance policies, because that's another video that I've already covered about our history or complicated history with life insurance policies okay or we're just life insurance in general. And so now there's no excuse you have access to life insurance. Okay. So now it's your responsibility to go ahead and put that in place. So that way you're not locked out from creating generational wealth. So of course, a mutual is here to help you to be able to do that. Now we're going to skip the Vanderbilt's here because we're just covering the Rockefellers at this time. Okay, because their story is not so positive so I want to show you the downfalls as well we want to cover the good bad and ugly, right. I'm just going to talk about, see a story of success and a tell of caution. But going back to the success of the Rockefellers. The Rockefeller succeeded by having a strong essential family constitution, plus several, you can have more than one several irrevocable trust that cannot be touched, nor reverse that is so important and they understood that that's what we were talking about generations ago. See, again, they're very forward thinking people they know that the world does not say the same now sometimes people say yes, it's a circle so eventually it's going to come back we've seen it with the fashion right. So maybe one era had bell bottoms and then we go through all these other different fashions and then we come right back to the bottom so I'm not saying that, you know it's not cyclical right but but they know that things do change, you know, our attitude toward a lot of maybe systems or anything everything changes however they know what works, and they're very conservative they're very, they're very classic so they're like hey look we're going to continue to do this and I have to admit what they're doing is working. Okay, so I know everyone's trying to try to 50 million different ways to do what they want to do. But you know why, you know, try to fix something that's not broke, and clearly what they are doing has worked for over six generations. They're all still billionaires, they're not shirtless to shirtless so this is definitely a great case study to review, and definitely read this on your own time because you may be seeing things that I didn't see and if you do, please put those in the comments. Okay, I would love to see that and I'm sure other people love to see that as well. In addition they essentially created a business devoted to the management of their families financial affairs and ventures. Again, this is amazing, starting to think of your family as a business. Alright, and when I think of the family constitution to me this kind of like a business plan. And so of course, again they hired an outside firm to be able to manage your family's financial affairs and ventures. These elements have helped to ensure that generational wealth is preserved in the long run. Okay, so we're not going to talk about the Vanderbilt's on this one. All right, but control your own outcomes through a state planning yes, the EP estate planning which many people do not do and it's very sad that people pass away including celebrities including people with high net worth. Who is that we just read about was that a Rita Franklin, I think we just read about where they finally finalized the case because the son found a will that was in the cushions of a couch to have a will there something is so important and the cushions of a couch. So that's very interesting and very questionable but hey whatever it was in a couch. Okay, they did find something and so that's not where you want, want it to be for the people that you love you don't want to have to send them through probate. And they're already sad and mourning the loss of your life. And they're stressed behind that you don't want them to have to be stressed financially, you know, it's very taxing having to go through litigation. There's a lot of assets on the line, you know, and you don't want to have families being broken up because of that. Again, what I respect about the Rockefellers is that everyone knows what is their role, you know what's the role of the family what's to come, you know, what's expected of them. And even if they had certain items that they had to abide by, I'm just saying this because I don't know what's what their rules are. But let's just say they stated hey you have to, you know, get buried, right. Before you have a child, in order to get X amount of dollars well if they didn't do it that way. They can't say that oh you're being unfair or you're discriminating against me it's in writing. The entire family understands this so they have to abide by those principles to keep it fair, right. So I just think is very amazing how they have everything set up. So then let's continue here and you have to have the state plan and of course legal shield we can help you with that just for 2995 very easy to do you don't have to be a multimillionaire right or pay millions of dollars in order to get your state documents the order we will take care that for you with your will, your power of attorney for health care and your power of attorney for finance, we can get that started for you this week. Okay, so visit us and I read that we are legal shield calm. Sign up, let's get it taken care of for you. Okay, then also we can get you started and get you the information and everything that you need for your trust. So let's get that created of course you're going to need your LLC create it, we can get that created for you. Alright, and then of course am usual we can always assist you with your life insurance policies. So I'm very excited again right here just goes back into the documentation for the for your state plans, things that you will need. All right. So when we have another another video, please go through all the videos that we have. They're really great we have one about the will. And you know this is something that's very important to you this is your last, you know, testament, you know if you will. How you want to be remember it so we have a really great video on things that you need to seriously think about your life and get in place now. Okay, so things are in order. Not very funeral, but for all of your assets that you're leaving to the next generation. And when I tell you right now, again, is the greatest transfer of wealth. Please make sure you have everything documented, or else your children will not receive your assets, it will go back to the state. Okay, and this is not the time for your children not to have ownership and property, or in other assets that you will not receive because again the GR is happening right now. And the goal that is being restated over and over again is that you will own nothing and be happy. So they are taking ownership off the table for your ears they've already made that decision for you. You have to make the decision that no, I say no to that. And I want my heirs to be owners, I want them to have generational wealth, and that all starts with what you decide to do today. Now this right here is pretty awesome. It says, because our wealth was immense these families likely took advantage of sophisticated estate planning and tax strategies to preserve their wealth as much as possible so they're letting you know kind of like there's there's one estate company for the regular people and then there's a sophisticated one, you know, for the echelon right same with the tax strategies so. But this is because transferring wealth in the US is highly taxed. And it is, it is very highly taxed. So there are several strategies to protect your family from certain taxes again on your own time definitely click these links to research this. So your family from certain taxes such as estate tax, give tax this is perfect because it's a holiday time right now inheritance tax, and the generation skipping transfer attacks. Oh, this is nice. Okay, definitely read that one. The use of a dynasty trust. I love that word dynasty. Okay, that used to be a soap opera I think back in a day. I'm telling my age there but that used to be a soap opera okay. But yes, the use of a dynasty trust is just one of the many strategies available through estate planning. Alright, so this is really great here I hope that you've learned some things definitely come back review the links. If you want to contact us, definitely give us, you know, reach out a shout to quote at a mutual calm we're happy to assist. Visit us online at www.amutual.com for the insurance policies. And of course we can help you with your estate planning at in ivory that we are legal shield calm. So until then we'll see you on the next video keep aiming high.