financial tip of the week...

by Genya Harley 

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Are you going to leave an inheritance?

Hello All:
Hope you all have had a safe and "cool" week/weekend thus far. Thank you for your questions and comments. Also, I appreciate you forwarding my information to your family and friends, I am glad you find it useful.

The other day I had a very interesting conversation with a client and good friend about money and insurance. He expressed to me that he could not recall anyone in his age group (40 - 45) that had been the recipient of a sizable inheritance.
Stop for a minute and ask yourself, do you know anyone who has obtained an inheritance that has allowed them to live a relatively comfortable life, start a business, write a check for 4 years of college, buy property etc,? If the answer is no, there is a huge problem with this. Many of us have heard that we should "store up an inheritance for our generation and their generation", so aren't we doing this?
Here are a couple reasons why your answer is No:
1. People are living longer
2. People who died left just "enough" money to be buried and pay off debt, maybe a little extra -
3. People who died didn't leave anything - i.e.. no money or assets
It's sad but true that I have helped some people that are in their 60's that at one time had a sizeable amount of insurance in their 20's and 30's and for whatever the reason didn't maintain the policy (policies). There are many people out here that have life insurance and they have not been properly advised. Many of us fall into 2 categories: no insurance or not enough. I believe in my clients having as much as they can afford and taking steps to obtain more than enough!
If I am being redundant in my message to you, it is because I really care and I am concerned. Especially for African Americans, we have a lot of buying power, we have made considerable strides in business etc., but we are still behind in building and passing on generational wealth. It is ok to leave a legacy and I not talking about your children. What good is it to work everyday for a living, take care of your children and family, but if you pass away your loved ones cannot continue they same standard of living or grow into a better one?
One of the ways that you can grow wealth, protect wealth and pass on considerable amounts of wealth is with insurance. You have heard me say it before, insurance is the ONLY vehicle which you can transfer millions of dollars to someone free!
Are you interested in building, protecting or transferring your wealth to your family, a friend, or organization/church?
Please call or email me if the answer is YES. Until next week.
As always - be safe, use wisdom.


Genya Harley
Financial Consultant
Mutual of Omaha
19255 Everett Lane, Suite C
Mokena, IL 60448

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