“A good man leaves an inheritance to his children’s children, but the sinner’s wealth is laid up for the righteous.” Proverbs 13:22
Many people take this verse out of context and claim it means that a parent is obligated to leave money for future generations.
The point of Proverbs 13:22 is that a person who manages their money well and is a good steward likely has the financial means and resources to do it.
A person who is always in debt and owes everyone else money won’t be in a position to leave money for future generations.
As Proverbs 22:7 says “The rich rule over the poor, and the borrower is a slave to the lender.”
But the father, or grandfather who lived a life of financial integrity – saving and investing – paying down debt – and living within ones means will likely have money invested and set aside to pass along when they die – and as a result future generations will be blessed.
If you’ve never thought about where your money will end up when you are no longer here – now is the time to start!
Many people either choose to have a will or a trust.
There are online programs and forms that can walk you through setting up a simple will which helps explain your wishes as who you want to get your items when you die.
With a revokable living trust you can set the terms to decide when the trust beneficiaries will get their inheritance – and unlike a will – you can avoid probate.
The person named as the executor will be the one responsible for dealing with your estate after you are gone.
Death can be uncomfortable to think about – as our human brains still can’t comprehend what it means.
But avoiding getting your “house in order” will only hurt future generations as they will have to sort it all out once you’re gone anyways.
The best way to leave an inheritance for your grandchildren is to live your life with honor and manage your finances according to Biblical principles
Stay out of debt and don’t buy things you can’t afford.
Live within your means (or even below your means) and invest the resources God has given you.
Future generations will be blessed by your righteous example of living well and stewarding your means.
If you are currently in debt – the best thing to do (after building an emergency fund) is to pay that off first.
Check out Dave Ramsey’s “Baby Steps” for how to live a life of financial freedom which is bound to bless generations after you.
(h/t Christian Life Daily)