Become 'The One' In Your Family Who Changes Everything
I don’t know when, but you are going to reach a point in your life where your feelings towards money change.
It will no longer be about accumulating more and more.
Your focus will shift to taking care of your family and your community, cherishing your time that you have rather than buying material things.
If you’re reaching that point, think about becoming ‘The One’ for your family.
The one who changes the direction of your family’s life for generations to come. The one who fights, the one who continues to grow, and who continues to give back and lend a helping hand.
Did you know that over 70% of family wealth is lost by the second-generation?
And over 90% of family wealth is lost by the third generation?
There is the old Chinese proverb, “Rags to rags in three generations”
Is this what you want? I doubt it.
It comes down to GENERATIONAL WEALTH.
Maybe you or your family have accumulated a large sum of money, and you think you’re above this.
But look at the Vanderbilt Family. Cornelius Vanderbilt left his heirs the inflation-adjusted equivalent of something like $300 billion.
Money to them wasn’t an asset; it was a social liability, leaving them to a status-chasing life that left most of them completely miserable.
This can come down to a lack of communication, understanding, and trust among family members. The prior generations perhaps didn’t do a great job explaining the legacy they intended to leave behind.
Those who inherit large sums are often unprepared to receive the inheritance or are emotional and don’t know what to do with the assets.
We’ve also met the trust fund kids. Who never had to earn anything, it was always handed to them. I’m not jealous of them, I feel bad.
They don’t know what it’s like to fight and work towards goals and aspirations. To push through failure and rejection.
Warren Buffett has famously said, “I want to give my kids enough so that they could feel that they could do anything, but not so much that they could do nothing.”
You should feel empowered to do whatever you want.
I believe there’s greatness in all of us. But 90% of us give up.
We don’t want to put in the work, we want the handouts.
It is your duty to fulfill your potential. If you want to be happy, you must grow.
As you become ‘The One’, ask yourself:
What does your family want or need?
What do you want to be remembered for?
Become the one in your family that changes the direction for generations to come.