Our third session about Family Business Succession planning talks about how to help your family create new passive income streams.

Check this video out.

Here are some Key Takeaways and Timestamp for you to easily find it.

  • 4 reasons why we need to help our family create passive income streams
  1. (04:04)  Our kids need to know the value of money. They have to learn how to handle it well so that our (parents) hardwork will not put to waste.
  2. (04:36) The breadwinner of the family might be gone too soon that our kids are not ready to stand up on their own.
  3. (05:08) The children might be too dependent of their parents as sometimes we are spoonfeeding them.
  4. (05:50) When our children get married, they don’t need to depend with their spouse and in-laws.
  • 3 tips on how to help your family create passive income streams
  1. (08:47) Tip 1 – Have a smart money wife/ spouse.
  2. (10:34) Tip 2 – Invest in good education.
  3. (12:11) Tip 3 – Teach your kids entreneurship while they are young.
  • Kidpreneurship defined (12:30)

Watch the replay here.

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