Creating generational wealth is great and all but if the next generation aren't made to understand what value is then the wealth ends with you.
I look at parents who give their children everything because those are things that they never got or easily got when they were young. That's ok but perhaps let them earn it first.
A down to earth life
Is a hard one to swallow
A humble life wins 🫂
#haiku
You have earned your wealth AK?
I'm not wealthy, not by a long shot. My father showered my with money, not love. I don't really get on with my dad well now but I still love him. I'm a self made man, who can retire 20 years younger than "Expected", that to me, is success. Not having everything on a plate. I am successful because of the inate risks I have took in life. Nothing more, nothing less. The self, alone. Sovereign.
Congratulations. Something to be proud of, I'd imagine.
As for me,I have enough. I think my life has been made simple but I can go even simpler.
That's cool.
Proof of work, is not.
Arriving at Mauchu Pichu within a day or two of arriving in Peru.
It's also, not being in "The Paddock Club" and finding yourself right above the pit lane in Las Vegas, that, is privilege.
Again, I don't begrudge you any of those things AK, you do seem quite humble, but you are, without a doubt, privileged.
I don't believe I was granted a special right or access by anyone to be privileged.
Did I work hard to earn my keep? Absolutely. Am I privileged that I was given a good brain, developed a good attitude and mindset towards life to navigate it much easier and make good choices, then absolutely yes. I enjoy the finer things in life because I want to experience it. So can anyone else of they choose to.
Everyone
That was supposed to say that everyone needs to struggle…however, the “self-made” success…most people, if being honest, can admit to having at least some form of help from somewhere outside of themselves to achieve their success.
Yes though any form of outside help can still result in either success or failure.
Totally agree. The children will appreciate it way more if they earn it.
First generation makes it
Second generation spends it
Third generation loses it
Fourth gener...
This hits
The benefit of “generational wealth” is a myth.
Education is important but also fostering good infrastructure to help the kids improve themselves quicker also is good, help them build credit, and maybe help with the first car, removing those two barriers will probably accelerate their financial development.
The fine line between spoiling, and struggle, learning that things come, and go, that steady constant reliability.
