One's ultimate goal in life is intertwined with an individual pursuit of happiness.
We are all striving to attain some level of satisfaction and success. It is that pursuit that gives our life meaning. It is what gets you out of bed in the morning, and it's what you dream of when you’re asleep. Subsequently, when you achieve some measure of this goal, you might find yourself wondering what you can do to share that journey and its fruits with your offspring. This is where generational wealth comes into play.
Wealth means different things to different people. Some might say generational wealth is leaving some money behind for your children. Others might say it is leaving behind a way of life, a heritage if you will. The answer is a mix of both ideas.
Generational wealth means leaving behind the tools and input subsequent generations need to traverse the waters of life.
The very nature of life (mortality) dictates that you will leave something behind. It doesn’t matter whether you like it or not, we all have a legacy. Children are, more often than not, subject to the ideals and personal philosophies of their parents. These viewpoints are passed on from parent to child during the course of their lives. Financial and moral principles are vital examples of the generational wealth you leave behind.
Legacy goes beyond just what people remember you for, it covers what you inspired in others. In your actions and the words you say lie the generational gifts you give your children. Trust funds and financial bounties are just half of a very complex equation. It is not just about whether or not you leave your children money, but rather if you’ve also taught them what to do with it.A financial legacy is useless in the wrong hands Click To Tweet.
The values you teach your children are far more important than any amount of money or assets you give them. A popular saying goes, “Give a man a fish, and his hunger is satisfied. Teach him to fish, however, and he never goes hungry again.” Generational wealth is not exclusively material, it encompasses those tools you leave behind for your children to use.
What is your life teaching your children? What are you leaving behind?