Episode 454: No. 2 The Yellow Belt: The People Who Matter Most – Kids, Parents and Business Partners

In this episode, we ask:

• Will anything else in your financial life work?
• Did you listen and learn about the White Belt in Episode 453?
• What is the Yellow Belt?
• Where is real wealth built?
• What intentional steps are you taking?
• What about legacy level power?
• How much does it cost to raise one child from birth to age 18 in the U.S.A.?
• What are the problems with 529 plans?
• What are the advantages of life insurance on children?
• When is the best time for children to start leveraging uninterrupted compound interest?
• How do the grandparent’s assets affect the grandchildren’s assets?
• Where do many families tie up their wealth?
• Who can own policies on kids and grandchildren?
• What about the sandwich generation?
• Who is a caregiver?
• What happened to home care and assisted living costs?
• Does Medicare cover long term care costs?
• What about Medicaid?
• How does the Yellow Belt change the game?
• Where does the burden land?
• What is an accelerated death benefit rider?
• Can you get access to your death benefit while you’re still alive?
• Who will cover the gap Medicare ignored?
• What if the parents are uninsurable?
• What about the liquidity?
• Will the markets cooperate?
• Who is prepared for the money?
• Are you a business owner?
• What happens when someone leaves?
• What happens when a business partner dies?
• Have you seen a poorly designed business transition play out?
• What could you do instead?
• What about cross purchase and entity purchase agreement?
• How about liquidity and security?
• Would you like to read The Business Fortress?
• What are some design ideas?
• What about 162A bonus plans?
• How will you protect and reward the people who drive your revenue?
• What comes with heavy regulations?
• What will happen when the unexpected hits?
• What beats term insurance or a sinking fund?
• What are the key takeaways?
• Would you like to meet with Mark or one of Mark’s associates?