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In this video we discussed Legacy in three generations: Abraham, Issac, and Jacob from the bible. The point of Legacy Part 2 is to illustrate how passing down money and possessions from one generation to the next allows continued financial growth within a family line. That definitely reinforces the truth that a good man leaves an inheritance to his children's children.
Just because finances increase doesn't mean people will be without flaws or sin as we see with Abraham and Jacob. As discussed in Legacy Part 1, money is not the only thing we should look to pass down. Since that is the case, here are some principles that should be considered as you look to leave a legacy to your next generation:
1. Giving
Giving is a foundational principle when it comes to wealth building. It puts you in a mindset of helping others and makes room so more can flow to and through you. In Proverbs 3:9-10 (NKJV) it says, "Honor the Lord with your possessions and with the first fruits of all your increase so your barns will be filled with plenty and your vats will overflow with new wine."
Giving is a foundational principle when it comes to wealth building. It puts you in a mindset of helping others and makes room so more can flow to and through you. In Proverbs 3:9-10 (NKJV) it says, "Honor the Lord with your possessions and with the first fruits of all your increase so your barns will be filled with plenty and your vats will overflow with new wine."
If you believe this, how have you passed this down to your children? Do you think they'll just pick it up along the way? Maybe... but maybe not! Be intentional about showing and teaching the next generation of your family what it means to give and to trust God in giving. Will you be committed to practice and to teach them to give?
2. Stewardship
As we saw in Legacy Part 1, millions of dollars doesn't mean anything if you can't manage it properly! If you have no idea what's coming in or what's going out how can you develop wealth to pass down? Furthermore, if you do have money to will to your children how will they increase it if they can't manage it? At some point you have to be the one who teaches and guides them about managing money. Ironically, this could be considered you being a good steward of your children's lives. If not for yourself, learn how to budget and keep track of money to teach your children. Enroll them in quality courses that teach on the topic. Remember, we can't rely on school to do it and some point you have to take control and train them up in the way they should go!
As we saw in Legacy Part 1, millions of dollars doesn't mean anything if you can't manage it properly! If you have no idea what's coming in or what's going out how can you develop wealth to pass down? Furthermore, if you do have money to will to your children how will they increase it if they can't manage it? At some point you have to be the one who teaches and guides them about managing money. Ironically, this could be considered you being a good steward of your children's lives. If not for yourself, learn how to budget and keep track of money to teach your children. Enroll them in quality courses that teach on the topic. Remember, we can't rely on school to do it and some point you have to take control and train them up in the way they should go!
3. Discipline
Temptation has always been prevalent but with easy access to almost anything with the Internet discipline is of utmost importance! Ads are in our face almost on every Internet platform saying, "click here" and "buy me" literally 24-7. So we must have disciple to not take the bait, save up for it, or strategize on how to obtain it in a wise manner. Hebrews 12:11 (NIV) says, "No discipline seems pleasant at the time, but painful. Later on, however, it produces a harvest of righteousness and peace for those who have been trained by it." Disciple is not fun, but instilling it in your next generation is a key for them to handle what you have stored up for them.
Temptation has always been prevalent but with easy access to almost anything with the Internet discipline is of utmost importance! Ads are in our face almost on every Internet platform saying, "click here" and "buy me" literally 24-7. So we must have disciple to not take the bait, save up for it, or strategize on how to obtain it in a wise manner. Hebrews 12:11 (NIV) says, "No discipline seems pleasant at the time, but painful. Later on, however, it produces a harvest of righteousness and peace for those who have been trained by it." Disciple is not fun, but instilling it in your next generation is a key for them to handle what you have stored up for them.
Incorporating these principles into your daily life and teaching them to your children are great ways to develop the next generation. It will also help them to better handle what you plan on leaving them financially. Remember the theme of this lesson is leaving something in and to them!
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