KS 430 - Why Rushing An Inheritance Can Hurt Your Family

1 00:00:02,000 --> 00:00:06,160 SPEAKER_00: Proverbs chapter 22, verse 29 says, When you see a 2 00:00:06,160 --> 00:00:09,359 man skillful in his work, he will storm before towards. 3 00:00:09,519 --> 00:00:11,839 You will not storm before a pure man. 4 00:00:12,400 --> 00:00:16,320 Fellow marketplace Christians, stop apologizing and start 5 00:00:16,480 --> 00:00:17,120 winning. 6 00:00:17,359 --> 00:00:20,879 Welcome to the Success Out, the show that helps you take your 7 00:00:20,879 --> 00:00:23,679 walk as a marketplace Christian to the next level. 8 00:00:23,920 --> 00:00:27,440 Here's your host, Christian Entrepreneur Tyler McCart. 9 00:00:30,879 --> 00:00:33,520 SPEAKER_01: What's going on, Kingdom Success listeners and 10 00:00:33,520 --> 00:00:34,399 viewers? 11 00:00:34,640 --> 00:00:37,119 Yours truly, Tyler McCart, coming at you. 12 00:00:37,439 --> 00:00:40,799 Episode 430 on my audio podcast. 13 00:00:40,880 --> 00:00:43,759 And I guess this is video number two. 14 00:00:44,799 --> 00:00:47,520 If you haven't subscribed to the channel yet, I'd ask you to go 15 00:00:47,520 --> 00:00:48,560 ahead and subscribe to the channel. 16 00:00:48,719 --> 00:00:52,000 Follow on any kind of podcast player that you have. 17 00:00:52,079 --> 00:00:55,920 If you're on YouTube, obviously you can subscribe and uh follow 18 00:00:55,920 --> 00:00:57,520 along as we continue on. 19 00:00:57,600 --> 00:01:00,560 But here at Kingdom Success, you know, we're all about out 20 00:01:00,560 --> 00:01:05,040 actually helping you maximize your God-given potential in the 21 00:01:05,040 --> 00:01:08,239 marketplace uh for the kingdom of God. 22 00:01:08,319 --> 00:01:11,040 Uh quite honestly, Jesus talked about the kingdom of God more 23 00:01:11,040 --> 00:01:15,359 than he talked about heaven, he more than he talked about really 24 00:01:15,359 --> 00:01:15,680 anything. 25 00:01:15,760 --> 00:01:17,680 And the kingdom of God is actually inside of you. 26 00:01:17,920 --> 00:01:23,359 And so by you actually tapping into what God has sent you to 27 00:01:23,359 --> 00:01:28,799 this earth to accomplish and do, therein lies the potential for 28 00:01:28,799 --> 00:01:31,680 you to maximize your potential for the kingdom of God. 29 00:01:32,159 --> 00:01:34,079 Potential, a lot of potentials around there. 30 00:01:34,400 --> 00:01:39,200 Anyway, uh, so today what I wanted to talk about uh in my 31 00:01:39,200 --> 00:01:44,879 quiet time, I've been reading Proverbs uh for the last, oh, I 32 00:01:44,879 --> 00:01:48,640 don't know, um since 2008, I guess. 33 00:01:48,799 --> 00:01:50,079 Yeah, since 2008. 34 00:01:50,159 --> 00:01:52,959 I've been reading Proverbs basically, you know, uh a 35 00:01:52,959 --> 00:01:56,799 chapter a day, uh, pretty much since 2008. 36 00:01:56,879 --> 00:01:58,000 I don't know how many years that is. 37 00:01:58,079 --> 00:02:01,280 It's it's more of the lot of years. 38 00:02:02,239 --> 00:02:07,519 But today was Proverbs 20, and one of the verses really stood 39 00:02:07,519 --> 00:02:11,280 out to me, and Holy Spirit kind of grabbed my attention within 40 00:02:11,439 --> 00:02:16,639 brought me back actually to a time in my life uh that I want 41 00:02:16,639 --> 00:02:17,680 to talk about. 42 00:02:17,840 --> 00:02:23,120 And you know, again, this is going to be really um, you know, 43 00:02:23,360 --> 00:02:28,000 multi-generational, multi, you know, thinking outside of 44 00:02:28,000 --> 00:02:31,680 yourself, your own little bubble, but actually thinking 45 00:02:31,680 --> 00:02:35,120 beyond you know what you have going on today and thinking 46 00:02:35,120 --> 00:02:37,599 generationally for your family. 47 00:02:37,840 --> 00:02:38,400 All right. 48 00:02:38,560 --> 00:02:39,599 So here's the verse. 49 00:02:39,759 --> 00:02:45,439 Proverbs 20, verse 21 says, an inheritance gained hastily at 50 00:02:45,439 --> 00:02:49,439 the beginning will not be blessed in the end. 51 00:02:50,400 --> 00:02:55,199 Now, story time, boys and girls. 52 00:02:55,919 --> 00:03:00,159 When I first got married, uh, Amy and I, uh Amy and I, we've 53 00:03:00,159 --> 00:03:02,400 been married now for over 25 years now. 54 00:03:02,639 --> 00:03:06,560 When we first got married, uh, we lived in apartments, and uh 55 00:03:07,199 --> 00:03:11,199 we we started out an apartment, and you know, one of the things 56 00:03:11,199 --> 00:03:14,159 that we wanted to do was we wanted to get a house. 57 00:03:14,560 --> 00:03:19,199 Well, my parents, Amy's parents definitely encouraged us to get 58 00:03:19,199 --> 00:03:19,840 a house. 59 00:03:20,000 --> 00:03:23,759 Uh, they felt like that was a good investment uh for us and 60 00:03:23,759 --> 00:03:26,800 our you know family, and you know, as we are starting up our 61 00:03:26,800 --> 00:03:28,240 marriage and our family. 62 00:03:28,479 --> 00:03:32,400 Well, we we wound up, you know, going through this whole entire 63 00:03:32,400 --> 00:03:35,280 search, and you know, it was a big rigor morore. 64 00:03:35,439 --> 00:03:38,879 And finally one day, I remember we were, Amy and I, we went out 65 00:03:38,879 --> 00:03:43,199 for a walk that afternoon, and I just kind of told Amy, I kind of 66 00:03:43,199 --> 00:03:46,000 threw my hands up and said, you know, sweetie, I I don't really 67 00:03:46,000 --> 00:03:46,960 care about this anymore. 68 00:03:47,039 --> 00:03:50,159 I I I have to cast all of this on the Lord. 69 00:03:50,240 --> 00:03:53,120 I'm I'm just fed up with all this pressure of trying to find 70 00:03:53,120 --> 00:03:54,879 a house and get into a house. 71 00:03:55,039 --> 00:03:58,400 Time kind of went by another day or another couple days later. 72 00:03:58,560 --> 00:04:02,639 Um, Amy calls me at work and says, Hey, can you come out uh 73 00:04:02,639 --> 00:04:03,840 to this house? 74 00:04:04,000 --> 00:04:05,919 Um, I called this real estate agent. 75 00:04:06,000 --> 00:04:09,919 Uh, she actually found this one house uh down on the south side 76 00:04:09,919 --> 00:04:13,599 of Myrtle Beach, and uh I think you might actually enjoy it. 77 00:04:14,000 --> 00:04:19,680 Well, so I packed my bags up and I went down to meet meet meet 78 00:04:19,680 --> 00:04:25,360 Amy, and uh that was the house we actually found together, and 79 00:04:25,360 --> 00:04:27,600 it was way below market price. 80 00:04:27,920 --> 00:04:33,120 And on top of that, um, you know, we felt like this is the 81 00:04:33,120 --> 00:04:34,240 house that God wanted us to have. 82 00:04:34,319 --> 00:04:36,560 So we signed a contract actually right then and there. 83 00:04:36,800 --> 00:04:42,399 Through through that time before all that, my mom and dad had let 84 00:04:42,399 --> 00:04:47,920 me know that my great-grandfather, uh Papaw, um, 85 00:04:48,160 --> 00:04:52,319 had left me a little bit of inheritance. 86 00:04:53,360 --> 00:04:57,759 And uh they wanted to give that inheritance to me. 87 00:04:58,079 --> 00:05:01,439 Well, Tyler, so this is right before this house kind of 88 00:05:01,439 --> 00:05:02,560 canceled, put a pin in that. 89 00:05:02,639 --> 00:05:04,639 I'm gonna come back to the house in just a second. 90 00:05:04,959 --> 00:05:10,720 So I took it upon myself to start doing what I had known to 91 00:05:10,720 --> 00:05:14,000 do, and that was get a multitude of counseling. 92 00:05:14,319 --> 00:05:19,279 So I talked to one of my uh mentors, and he had directed me 93 00:05:19,279 --> 00:05:23,040 to this financial advisor that uh had worked for Larry 94 00:05:23,040 --> 00:05:23,759 Briquette. 95 00:05:24,079 --> 00:05:28,160 Um, I had gone and talked to this Edward Jones gentleman as 96 00:05:28,160 --> 00:05:31,600 well, and uh was wanting to get some financial advice of what I 97 00:05:31,600 --> 00:05:33,439 should do with this money. 98 00:05:34,319 --> 00:05:41,279 But at the end of it all, I really didn't get the money 99 00:05:41,279 --> 00:05:42,720 directly to me. 100 00:05:43,360 --> 00:05:48,720 Okay, and Tyler, yeah, yours truly, I was pretty hot. 101 00:05:49,040 --> 00:05:53,360 Um, I was a little bit upset with my mom and dad because of 102 00:05:53,360 --> 00:05:53,600 that. 103 00:05:53,839 --> 00:05:57,439 And because I was upset, I really, again, didn't know what 104 00:05:57,519 --> 00:05:58,240 I didn't know. 105 00:05:58,480 --> 00:06:01,759 And mom and dad had said, hey, look, we're gonna give you this 106 00:06:01,759 --> 00:06:05,120 money, but we're actually gonna allow this money to go towards 107 00:06:05,120 --> 00:06:08,240 your down payment for your house. 108 00:06:09,279 --> 00:06:13,360 And, you know, instead of me being, you know, overjoyed and 109 00:06:13,360 --> 00:06:16,720 whatever, I mean, I just taking all this time and all these 110 00:06:16,720 --> 00:06:20,639 meetings and done all this research and whatever, and I was 111 00:06:20,639 --> 00:06:24,319 ready to invest, I was ready to put money into the stock market, 112 00:06:24,480 --> 00:06:29,759 I was ready to, you know, uh see this blessing that was coming to 113 00:06:29,759 --> 00:06:30,879 me grow. 114 00:06:31,439 --> 00:06:34,560 Well, but my mom and dad put conditions on it, and they said, 115 00:06:34,720 --> 00:06:37,199 hey, you need to put this actually in your house. 116 00:06:37,439 --> 00:06:41,279 Well, I reluctantly said, okay, fine, that's that's totally 117 00:06:41,279 --> 00:06:41,519 fine. 118 00:06:41,680 --> 00:06:45,120 So at that that house, when we actually bought the house, we 119 00:06:45,120 --> 00:06:48,079 put a that down payment. 120 00:06:48,240 --> 00:06:52,879 It wasn't the full price of the house, but it was at least a 121 00:06:52,879 --> 00:06:55,439 good chunk of the uh of the money. 122 00:06:55,759 --> 00:07:02,160 Well, as I we lived in that house for about four years, Amy 123 00:07:02,160 --> 00:07:07,759 and I did, and that was right around the time that 2005. 124 00:07:08,480 --> 00:07:12,399 All right, so if you know anything about 2005, 2005 was 125 00:07:12,399 --> 00:07:16,959 kind of when real estate started to really creep up and really 126 00:07:16,959 --> 00:07:19,519 start to kind of uh escalate. 127 00:07:19,680 --> 00:07:21,759 Now, I didn't know that at the time. 128 00:07:21,920 --> 00:07:26,160 Um, at that time I was seeking the Lord, and I actually felt 129 00:07:26,319 --> 00:07:28,639 led of the Lord to actually move. 130 00:07:28,800 --> 00:07:31,759 Uh, Amy and I, we'd been there for about four and a half years 131 00:07:31,920 --> 00:07:35,920 of that house, and we had felt led to move. 132 00:07:36,160 --> 00:07:39,120 Well, I put this, I put a sign up, went to a business 133 00:07:39,120 --> 00:07:43,439 conference, Amy and I did, and during the conference, I was 134 00:07:43,439 --> 00:07:46,959 getting all these phone calls of, hey, you know, how much you 135 00:07:47,120 --> 00:07:47,759 want to sell for your house? 136 00:07:47,920 --> 00:07:48,959 Blah, blah, blah, blah, blah. 137 00:07:49,439 --> 00:07:53,120 Well, a buddy of mine from college had reached out to me 138 00:07:53,120 --> 00:07:56,560 and said, Hey, Tyler, I I really love your house. 139 00:07:56,639 --> 00:08:01,920 Um, I'd be more than happy to pay you or offer you this amount 140 00:08:01,920 --> 00:08:02,240 of money. 141 00:08:02,319 --> 00:08:04,480 We don't have to have any real estate agents involved. 142 00:08:04,639 --> 00:08:08,959 We can pay this amount of money and we can close fairly quickly, 143 00:08:09,040 --> 00:08:10,720 you know, on the house. 144 00:08:11,040 --> 00:08:14,879 And I'm like, sure, yeah, that sounds great. 145 00:08:15,040 --> 00:08:19,279 Uh, so we agreed to the set amount of money, and within 146 00:08:19,279 --> 00:08:24,399 about 30 days, Amy and I, we were out of the house. 147 00:08:24,720 --> 00:08:25,040 Okay. 148 00:08:25,680 --> 00:08:30,399 Now, here's the message of the story that I want to get back to 149 00:08:30,480 --> 00:08:33,759 that the Holy Spirit this morning asked me, he said, 150 00:08:33,919 --> 00:08:37,759 Tyler, do you realize, have you ever calculated what the 151 00:08:37,759 --> 00:08:43,279 percentage of return that you received on that down payment 152 00:08:43,279 --> 00:08:46,240 that your mom and dad put uh in there for you for your 153 00:08:46,240 --> 00:08:47,919 inheritance from your great grandfather? 154 00:08:48,320 --> 00:08:50,399 And I said, No, I had not. 155 00:08:51,279 --> 00:08:56,080 And so I did the calculations and kingdom success. 156 00:08:56,639 --> 00:09:05,120 Listen, it was a hundred and forty eight percent return on 157 00:09:05,120 --> 00:09:08,960 the money that we invested in, uh, we put a down payment on the 158 00:09:08,960 --> 00:09:09,200 house. 159 00:09:09,440 --> 00:09:15,120 So the down payment grew a hundred and forty-eight percent. 160 00:09:16,000 --> 00:09:16,639 Yeah. 161 00:09:17,279 --> 00:09:18,639 Praise the Lord. 162 00:09:19,120 --> 00:09:23,440 I'm glad that uh my parents had told me that we weren't doing, 163 00:09:23,759 --> 00:09:26,240 they weren't gonna give you the money because, you know, quite 164 00:09:26,240 --> 00:09:29,759 honestly, if I'd invested the money in the stock market or had 165 00:09:29,759 --> 00:09:33,200 invested the money in, you know, maybe something else, there'd be 166 00:09:33,200 --> 00:09:37,759 no way in the world I would have seen that kind of return on that 167 00:09:37,759 --> 00:09:38,159 money. 168 00:09:38,320 --> 00:09:42,000 Now, there were other things that were going on that I know 169 00:09:42,000 --> 00:09:46,480 from a spiritual standpoint and giving that did influence that. 170 00:09:47,360 --> 00:09:53,679 But I just want to hit on this principle that an inheritance 171 00:09:53,679 --> 00:09:58,720 gained hastily at the beginning will not be blessed at the end. 172 00:10:02,080 --> 00:10:04,879 Please hear me, Kingdom Success, when I say this. 173 00:10:06,159 --> 00:10:11,600 You've got to start to teach your children more about wisdom 174 00:10:11,919 --> 00:10:19,840 and money and about character and these intangible things 175 00:10:20,159 --> 00:10:25,600 about stewardship now, so that guess what? 176 00:10:26,240 --> 00:10:31,120 You can prepare them and they can help to understand what you 177 00:10:31,120 --> 00:10:34,000 are doing to help them set themselves up. 178 00:10:34,320 --> 00:10:37,279 I believe from the bottom of my heart, because I'm living proof 179 00:10:37,279 --> 00:10:41,600 of it, that you need to have an inheritance left for your 180 00:10:41,600 --> 00:10:42,240 children. 181 00:10:42,480 --> 00:10:45,519 That is a biblical thing, a financial thing. 182 00:10:45,759 --> 00:10:50,080 Not just, you know, wisdom, responsibility, all those 183 00:10:50,080 --> 00:10:50,720 intangibles. 184 00:10:50,879 --> 00:10:54,799 Yes, those are extremely important, but at the same time, 185 00:10:54,960 --> 00:10:57,440 a financial blessing helps you get ahead. 186 00:10:57,600 --> 00:10:59,759 I mean, look at I'm a testimony of that. 187 00:10:59,919 --> 00:11:04,879 It helped Amy and I, you know, when we got sold that house, it 188 00:11:04,879 --> 00:11:06,000 helped us get out of debt. 189 00:11:06,080 --> 00:11:09,279 We had a huge amount of cash, at least to me, it was a huge 190 00:11:09,279 --> 00:11:10,480 amount of cash. 191 00:11:10,960 --> 00:11:14,720 Sitting there that we were had, you know, we had savings then, 192 00:11:14,799 --> 00:11:17,759 and we actually started to invest that, invest that money 193 00:11:17,759 --> 00:11:19,039 into some things. 194 00:11:19,440 --> 00:11:22,799 But I tell you that, guess what? 195 00:11:24,240 --> 00:11:27,279 Inheritance isn't just about transferring asset. 196 00:11:27,360 --> 00:11:28,559 Now hear me, watch this. 197 00:11:28,799 --> 00:11:33,519 Inheritance is not just about transferring an asset, but 198 00:11:33,519 --> 00:11:36,799 transferring wisdom, timing, and responsibility. 199 00:11:37,039 --> 00:11:39,039 You can't rush into things. 200 00:11:39,200 --> 00:11:42,720 You've got to start now with your children. 201 00:11:43,440 --> 00:11:48,799 Now with your children, not 10 years from now, not wait till 202 00:11:48,799 --> 00:11:50,000 they're out of the place. 203 00:11:50,240 --> 00:11:54,320 I I was talking to uh a gentleman, he he was actually a 204 00:11:54,320 --> 00:11:59,360 C a CFO of two publicly traded companies. 205 00:11:59,840 --> 00:12:06,320 And you know, he he said, Man, Tyler, listening to you talk, I 206 00:12:06,320 --> 00:12:10,879 wish that we had started teaching our children sooner. 207 00:12:10,960 --> 00:12:13,120 Now our children are grown, they've got children of their 208 00:12:13,120 --> 00:12:13,360 own. 209 00:12:13,519 --> 00:12:17,600 Granted, they're Christians, Tyler, but I wish that we had 210 00:12:17,600 --> 00:12:20,399 told them all these principles and everything that I knew. 211 00:12:20,639 --> 00:12:24,480 I started teaching them early on to them. 212 00:12:24,960 --> 00:12:28,320 I mean, he he went on to say, he said, yeah, we actually kind of 213 00:12:28,639 --> 00:12:33,600 kept um what I did professionally um in the dark to 214 00:12:33,600 --> 00:12:36,399 my children because we didn't want them to know about that, 215 00:12:36,480 --> 00:12:40,080 and we didn't want that we felt like they might get spoiled or 216 00:12:40,159 --> 00:12:44,720 you know, get kind of an entitlement mentality of this 217 00:12:44,720 --> 00:12:48,159 position that I had in these two publicly traded companies, the 218 00:12:48,159 --> 00:12:49,039 CFO. 219 00:12:50,159 --> 00:12:51,840 But he says, you know what? 220 00:12:52,240 --> 00:12:57,200 Now looking back, I wish I had taught them these principles so 221 00:12:57,200 --> 00:13:00,080 that they could have known better. 222 00:13:00,320 --> 00:13:06,240 Again, guys, yeah, you want to transfer a spiritual legacy, see 223 00:13:06,240 --> 00:13:07,679 your children get saved. 224 00:13:07,919 --> 00:13:09,840 Very important, very important. 225 00:13:10,080 --> 00:13:14,080 All right, give them to a Bible-believing church, very 226 00:13:14,399 --> 00:13:19,200 important, but there's also other intangible things that you 227 00:13:19,200 --> 00:13:20,960 have to start to teach your children. 228 00:13:21,120 --> 00:13:27,360 If my mom and dad had said, taught me early on, okay, that 229 00:13:27,440 --> 00:13:29,919 yeah, hey, an inheritance is actually coming towards you. 230 00:13:30,080 --> 00:13:33,840 They never one time, and not this is not a downplay of my 231 00:13:33,840 --> 00:13:37,679 parents, but I just wish they had taught me and had said to 232 00:13:37,679 --> 00:13:40,000 me, hey, you were going to actually receive an inheritance. 233 00:13:40,159 --> 00:13:43,600 Here's how we would like to kind of help you steward that. 234 00:13:44,159 --> 00:13:47,200 Here's how we'd like to help you think through that. 235 00:13:47,360 --> 00:13:51,440 It's exactly what I'm doing with my children right now at this 236 00:13:51,919 --> 00:13:52,559 present time. 237 00:13:52,799 --> 00:13:57,120 They're 16, 14, 12, and 10. 238 00:13:57,360 --> 00:14:00,720 So I'm doing this right now with my own kids by teaching them. 239 00:14:00,799 --> 00:14:04,480 I'm not sitting down every single night and going through 240 00:14:04,480 --> 00:14:05,120 all this. 241 00:14:05,360 --> 00:14:08,000 I'm teaching this maybe once a week. 242 00:14:08,159 --> 00:14:11,840 Maybe at the dinner table, I'm teaching them something, or at 243 00:14:11,840 --> 00:14:13,039 least once a month. 244 00:14:13,279 --> 00:14:16,000 Then we might talk about this, or I might be working with one 245 00:14:16,000 --> 00:14:16,960 of them individually. 246 00:14:17,120 --> 00:14:21,120 Like right now, I'm doing that with my uh my oldest, Tyler Jr. 247 00:14:21,759 --> 00:14:26,879 But again, the transfer of wisdom, the timing of things, 248 00:14:26,960 --> 00:14:30,399 and the responsibility that they will receive, or that you need 249 00:14:30,399 --> 00:14:35,120 to pass down is so vitally important. 250 00:14:35,440 --> 00:14:38,559 King Success, listener, viewer, okay. 251 00:14:38,799 --> 00:14:41,279 If you've got them all the way to the end of this, I appreciate 252 00:14:41,279 --> 00:14:41,440 it. 253 00:14:41,759 --> 00:14:46,480 But you know, my call to action to you would be hey, if you 254 00:14:46,480 --> 00:14:51,039 would like to um share this with one person, greatly appreciate 255 00:14:51,039 --> 00:14:51,200 that. 256 00:14:51,360 --> 00:14:54,799 Just one, not 10, not blasting on your social media, just one 257 00:14:54,799 --> 00:14:57,279 person that might actually benefit from this episode. 258 00:14:57,440 --> 00:15:00,159 The second thing is I've actually got a book, a short 259 00:15:00,159 --> 00:15:06,080 book, an ebook based upon um uh family banking and actually 260 00:15:06,080 --> 00:15:08,240 having a purpose behind your family bank. 261 00:15:08,399 --> 00:15:12,080 If you're interested in that, you can actually click the link 262 00:15:12,080 --> 00:15:16,399 below and it'll shoot you out to uh actually a website that you 263 00:15:16,399 --> 00:15:19,600 can actually download that and get a copy of that. 264 00:15:19,759 --> 00:15:20,080 Okay. 265 00:15:20,480 --> 00:15:21,840 So, King of Success. 266 00:15:21,919 --> 00:15:24,000 Know that you're blessed, you're highly favored, you're empowered 267 00:15:24,000 --> 00:15:25,519 to prosper, you walk in divine health. 268 00:15:25,600 --> 00:15:28,159 The spirit of breakthroughs is on you, guys, and gang will 269 00:15:28,240 --> 00:15:29,919 catch you on the other side.