Jay Z Legacy Analysis

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This post is inspired by Jay Z’s latest album 4:44. My favorite track off of that album is called “Legacy”. It starts off by his daughter Blue Ivy Carter saying “Daddy what’s a will?” and Jay Z begins to talk about generational wealth and the legacy he wants to pass on to his family throughout the song. Personally, this track couldn't have dropped at a better time because I’m going to be a father soon. So for months, I’ve been thinking of ways to create generational wealth for my family. I started to think of my legacy and how I wanted to be remembered. What do I want to pass on to my child? A business? Rental property? 401k? IRA? Life insurance payout? Knowing I had a child on the way put me into a whole new state of mind. Right now at 27, I’m elated to say that I’m 100% debt free. Now that I don't owe anyone allows me to pay myself and build my net worth month by month. I feel I have a great opportunity to create generational wealth for my son. If I start investing from the day he is born he wouldn’t need to ask anyone for a loan to start a business, for college tuition, certification fees or whatever route that he decides to choose. I want him to have a better life than I did growing up so I have to make some sacrifices. …show more content…

I currently have a life insurance policy through work but if I were to lose my job tomorrow that policy will go away with it. So I plan on taking out a life insurance policy when my son is here to cover him and my family in case something were to happen to me. I want them to be able to pay off a potential mortgage, fund college and still have a supplement to the salary I was making to maintain the same lifestyle. I don't want my family scrambling around asking people for money or starting a GoFundMe for a funeral. Another thing I don't want to do is leave debt over to my family. Generational debt just like wealth can be passed

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