Latest news with #Nebeker
Epoch Times
12-05-2025
- Business
- Epoch Times
5 Tips for Building Generational Wealth
America is in the midst of the greatest wealth transfer in history. Over the next decade, an estimated $80 to $100 trillion will pass from baby boomers to their children and grandchildren. But one critical question remains: Will their heirs be ready for it? A 2023 study by AMG National found that 90 percent of inherited wealth disappears by the third generation. That sobering statistic is leading more families to ask: How do we build wealth that actually lasts? Financial advisor and author John Nebeker believes the answer lies in adopting a strategy used by some of America's wealthiest dynasties: the Family Bank. In his book The Family Bank: The Key to Generational Wealth, Nebeker shares how families like the Rockefellers used this approach to grow wealth while preparing future generations to be responsible stewards, not entitled heirs. Here are five key tips from Nebeker for building real generational wealth. 1. Rethink Your Estate Plan Traditional estate plans often fall short. They might protect your money from external threats, but they rarely account for internal ones, like mismanagement, entitlement, or family disputes. 'Traditional planning does a lousy job fulfilling people's wishes,' Nebeker said. 'Spendthrift heirs often dissipate whatever is left of the estate.' If you've already set up a plan, don't worry—it may still be adaptable. Talk to your estate attorney or financial planner about aligning your plan with longer-term family wealth goals. 2. Replace Entitlement With Opportunity Through a Family Bank A Family Bank is a nontraditional structure that allows families to retain and grow assets over time while providing support to future generations. Instead of handing out inheritances, the family makes structured loans to heirs to fund things like education, business ventures, or home purchases. 'Families replace gifts with loans, and entitlements with opportunities,' Nebeker said. Many successful families use trusts to manage their Family Bank. Trusts can help reduce estate taxes, ensure legal protection, and maintain generational financial control. 3. Talk About Money—Yes, Really Many parents avoid talking to their kids about inheritance plans. But keeping financial plans secret can do more harm than good. Related Stories 2/18/2025 12/27/2024 'Money can drive people apart, but with wise design, it can also bring them closer together,' Nebeker said. 'It's possible—even probable—to make money a unifying force in your family with the right structure.' Start by communicating your goals and expectations. Invite family members to participate in discussions so they understand the plan and its values. 4. Choose the Right People to Manage the Family Bank A Family Bank typically has a 'Bank Board' or trustees who oversee assets and make decisions about loans and investments. These individuals are often family members, but can also include outside advisors. 'The selection of trustees may be the deciding factor in whether a Family Bank is successful,' Nebeker said. 'They need to manage assets, stay connected to the family, and uphold the founding principles.' Regular board meetings and clear communication help keep the structure transparent and effective. 5. Invest in Financial Education for the Next Generation A lasting legacy requires more than money—it requires knowledge. The Family Bank model emphasizes preparing heirs to be financially competent and mission-driven. 'Training young members is a cornerstone responsibility of the board,' Nebeker said. 'When they experience firsthand what it means to borrow, invest, and give responsibly, they are far more likely to succeed.' A well-structured Family Bank can give heirs the tools to grow wealth, give back to their communities, and honor the family's values. Final Thoughts: You Can Build Wealth That Lasts Generational wealth isn't just about passing down assets—it's about passing down vision, values, and responsibility. With the right strategy, your legacy can empower future generations instead of burdening them. 'The Family Bank is about creating opportunity, not entitlement,' Nebeker said. 'That's the key to wealth that lasts.' By Jaime Catmull The views and opinions expressed are those of the authors. They are meant for general informational purposes only and should not be construed or interpreted as a recommendation or solicitation. The Epoch Times does not provide investment, tax, legal, financial planning, estate planning, or any other personal finance advice. The Epoch Times holds no liability for the accuracy or timeliness of the information provided.
Yahoo
15-02-2025
- Entertainment
- Yahoo
Tacoma's ‘Unapologetically Black and LGBTQ+ Friendly' comic shop to close
A Tacoma comic shop known for celebrating BIPOC and LGBTQ+ authors and community members is starting a new chapter. Destiny City Comics says it will be closing for good at the end of February. 'The rent has gone up 25% and unfortunately we are not 25% more profitable than we were five years ago,' Owner Matthew Nebeker told KIRO 7. 'If we moved somewhere in our price range, we would lose a lot of what we get to do for our community,' he said. The store currently holds a number of after-hours events such as book clubs and author signings, and he fears those events would go away if they moved. Nebeker owns the shop with his wife Stephanie Hagan. He also goes by his professional wrestling name 'ETHAN HD.' Nebeker says he may return to the ring to start his next chapter- but it will be bittersweet. 'I don't think that anybody tells you that when you become a small business owner you meet all of these regulars and they become part of your life and you become part of their life,' he told KIRO 7. 'You're there for new jobs, you're there for people transitioning and see them take on new pronouns and new names and become their authentic selves.' He tells KIRO 7 he loved watching his customers discover their most authentic selves. 'I genuinely cannot thank anybody enough who's came and supported this store,' he said. The store's last day will be Feb. 28. Destiny City Comics will be hosting a farewell party that evening. It starts at 6 p.m.
Yahoo
14-02-2025
- Business
- Yahoo
Beloved Tacoma comic book shop known for its queer and BIPOC-friendly titles to close
Beloved comic book store Destiny City Comics in Tacoma will be closing its doors at the end of February after its rent has increased 'exponentially,' one owner told The News Tribune this week. Located next to King's Books at 218 St. Helens Ave., the shop is advertised as 'Tacoma's Unapologetically Black and LGBTQ+ Friendly comic shop.' On Wednesday, shelves upon shelves of novels, graphic novels, comics, art and toys filled the walls. Matt Nebeker owns the shop with his wife Stephanie Hagan and is known colloquially by his professional wrestling name 'ETHAN HD.' Nebeker said due to rent increases the shop close Feb. 28 after more than 10 years in operation. Destiny City Comics was known to host monthly book clubs, artist and craft events, author events and a zine symposium. Nebeker and Hagan bought the shop from its previous owners in December 2019, he said. In the more than five years the couple has operated it, rent has gone up higher than the price of books, Nebeker said. 'We're just making less per graphic novel, but our overhead is going up, and especially with new books, new graphic novels, whatever the price is on that, we're kind of beholden to that,' he said. 'The cost of everything else we need to just exist as people going up, and the cost of doing business is going up, but the cost of the goods we sell isn't going up, and we're not necessarily in a position where we can mark those things up either.' Nebeker said he and his wife reached out to the original owners to buy Destiny City Comics 'because we wanted to keep that going and be that conduit in the community for local artists and creators and people to find comics outside the beaten path of Marvel and DC.' The couple wanted to highlight a wide variety of books by LGBTQ+ authors and authors of color and found a strong community and customer base, Nebeker said. Nebeker said he also sold wrestling autobiographies and toys, which brought a new crowd. 'Just from day one, so many people just loved us and supported us. And I feel like there's never been a time where we haven't felt that love and that support,' he said. 'We've always had people here to help us and prop us up, an absolute blessing from the community, like locally and kind of around the country.' In his time as a local business owner Nebeker said he's been able to form bonds with customers and see them grow up and change over time. During the COVID-19 pandemic, Nebeker said, he watched a customer get married on Facebook Live. 'We've been there for parents who find out their child is trans or queer and [are] coming in to get literature on that, and kind of go on this adventure together,' he said. '[We've] seen people going through name changes, going through hormonal changes, staying up to date on what their pronouns are and new names and things like that. Getting to see people over time become their authentic self and be a part of their journey, even if you're only seeing them like, once a month or every other month, that's very cool.' As someone who is Black and biracial, Nebeker said he wanted to stock books by authors of color that didn't just touch on difficult topics like racism. 'If you're a young Black kid, not every Black story you read needs to be about, like Frederick Douglas or John Lewis's march. Those books are important,' he said. 'But you know, having graphic novels like Colin Kaepernick's, where it's just being young and successful, having books by Miles Morales, where you just get to see yourself as a yearling, those are equally important.' Nebeker said it was also important for him to be 'unapologetic' about the books they carry. 'We don't pull out our LGBT books for Pride, they're forward-facing year-round,' he said. 'Same thing, we don't pull out our Black graphic novels or Asian graphic novels [for Asian American and Pacific Islander Heritage] month, that stuff is always out there and it's always forward-facing. We're very quick online to point out social injustice when things like that happen as well.' With the shop closing, Nebeker said there will be 'a bit of a vacuum' in Tacoma. 'But I think we're very lucky too where, like, our neighbors, King's Books, are very great about carrying a lot of queer and POC literature, and so I don't think it'll be necessarily this colossal vacuum. But, yeah, I think to a point it will be,' he said. 'I don't think somebody's going to necessarily pick up the slack where we're leaving off.' Nebeker said it was 'a very hard decision' to close the store, and 'we probably went back and forth on it for about a year when our rent went up last year.' 'It sucks. This is something we genuinely love doing. There's never been a day where we didn't want to come into the shop or didn't enjoy being here,' he said. 'It's kind of a bummer. And I'll be honest, I don't really even 100% know what the next step is.' Nebeker said he'll definitely be taking on more pro wrestling bookings. The shop plans to host a party on Feb. 28 to 'have one last hurrah and get a little bit of face time with people that we're not going to see as often,' he said. Destiny City Comics announced on Instagram Wednesday that everything in the store will be 30% off for the rest of the month. Nebeker said comic books and graphic novels continue to get more people into reading and is an important storytelling medium to help kids understand complex topics and 'encourage kids to make art.' Destiny City Comics will remain open from 1-6 p.m. Tuesday through Friday and 11 a.m. to 6 p.m. on weekends. The store also ships merchandise worldwide. Address: 218 St. Helens Ave., Tacoma, WA 98402
