Holly Reid, CEO of The Master Playbook, is on a mission to equip the next generation with essential money skills. In a recent interview with Ramon Ray of ZoneofGenius.com, Reid shared insights on building generational wealth and leaving a lasting legacy.
Listen to the podcast interview here | Watch the interview here.
Shifting Mindsets About Wealth and Legacy
Reid emphasizes that legacy building isn’t just for the ultra-wealthy. It’s about creating something today that will continue to add value long after you’re gone. This applies to business owners and families alike.
“Legacy isn’t built on intention alone,” Reid states. “You have to take intentional action.”
Beyond Traditional Financial Planning
While many expect discussions of 401(k)s and investment strategies, Reid focuses on mindset shifts. She encourages people to:
- Document core values and business missions
- Invest in mentoring the next generation
- Partner with like-minded individuals and organizations
Overcoming Resistance to Wealth Building
Reid acknowledges that some family members may resist wealth-building efforts. She advises:
- Identifying the root of their concerns
- Focusing on the positive impact increased wealth can have
- Emphasizing how more resources allow for greater giving and community support
Planning for the Unexpected
The interview touched on the importance of preparing for unforeseen circumstances. Reid shared a personal experience of a recent car accident, highlighting the need for contingency planning in business.
Taking Action Towards Building a Legacy
Reid outlines three key steps:
- Adopt a “legacy builder mentality”
- Invest in yourself, your business, and your community
- Take concrete actions like joining mastermind groups and properly documenting business assets
The Master Playbook: Empowering Financial Education
Through her company, The Master Playbook, Reid provides resources for families and business owners. Her goal is to help people create lasting financial impact across generations.
To learn more about Holly Reid and The Master Playbook, visit themasterplaybook.com or follow her on social media platforms @themasterplaybook.
