Freedom Fighter Podcast

Don’t Just Build Wealth—Build A Legacy

Ryan Miller and Tanner Sherman Episode 32

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Building a Legacy That Outlives You

We don’t just want to make money—we want to pass on wisdom, protection, and purpose. This episode is all about the real stuff most people avoid: trusts, inheritance, and what happens after you're gone. But it’s not just legal talk—it’s legacy talk.

We share raw stories from our own families, what we’re learning about setting up living trusts, and how we’re thinking about generational wealth. It’s not about giving our kids a free ride—it’s about building guardrails and giving them a chance to carry the mission further. Because wealth without wisdom leads to waste.

Whether you’ve got a million in assets or you’re just starting to build, this episode will challenge how you think about ownership, impact, and family responsibility. There’s no one-size-fits-all, but there is a smarter way to plan for what matters.

📌 Key Topics:
✅ Why a trust beats a will (and what we wish we knew sooner)
✅ How we’re structuring our assets to protect our families
✅ What the Rockefellers did right—and the Vanderbilts didn’t
✅ Living to give vs. dying with money
✅ Avoiding family drama through smart planning
✅ The role of life insurance in wealth transfer
✅ Our personal philosophies on giving while alive
✅ What it really means to leave a legacy of wisdom

Every dollar you make is a tool. The question is: Will it serve your family—or divide them?

🎬 Chapters:
00:00 The Importance of Trusts in Wealth Management
02:23 Generational Wealth: Balancing Support and Responsibility
05:26 Asset Protection and Family Dynamics
08:17 Navigating the Complexities of Trusts
11:46 Lessons from Personal Experiences with Inheritance
14:30 The Philosophy of Living Life Fully
17:32 The Role of Family in Wealth Preservation
20:43 The Impact of Wealth on Family Relationships
23:35 Proactive Planning for Future Generations
26:36 The Value of Trusts vs. Wills
29:27 Final Thoughts on Wealth and Legacy

If you want to give money, I want to give a million dollars to my kids while I'm alive. Think of a million dollars or if you want to give a million dollars when you're dead, give a million dollars in your life. Figure out your finances. Like I said, it's kind of a finance book. Figure out your finances. You're retired at 65. I plan on living to at least 95. I'm gonna give myself another 10 year runway. I got X amount of money. I need X amount to live per year and divide it up and then give all the rest away.

Tanner, seven kids. Where are you leaving them? Well, I feel like I, we've talked about this a couple different times and I brought up the joke of Steve Harvey when he says that, you know, I'm gonna spend 90 % of everything I own on your mom.

and I'll leave you guys just enough to get ahead. But a blend of that and I've been learning more about setting up a revocable trust and putting all of our assets in the trust and how all that stuff works. And we haven't really come to a decision on what the terms will be, but when we, let me say that we have a $50 million net worth, I want that to be invested in a way where there's no possible way the kids could spend through it and give them just enough of head start where they want to take risks building businesses and stuff like that. 

They'll never have to worry about where their food's going to come from. Their kids, their grandkids will always be taken care of, but without giving them full control at 18, know, and blowing it and making the dumb, you know, rich kid mistakes. I don't know. I've I've been deciding cause you know, when you set up a trust,

Obviously I recommend anyone go through an attorney when they do it, but you can have it where they get them at certain age milestones. They get percentages at certain milestones. They have to read a certain book before you'll release any funds to them. Um, you can wait until they're married until they're, you know, they have kids of their own, you know, there's many different ways to set it up.

 But I think the most important thing for me is that that money is still invested and the dividends are dispersed amongst the kids. Cause if I have $50 million earning 6%, you know, thenthat 6 % is substantial enough for seven kids to live a good life. Yeah. So I kind of take a different approach, similar but different approach to that. I tell my kids I'm living to be at least a hundred.