“It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.”
~ Robert Kiyosaki
Written by Bryan Lutz, Editor at Dollarcollapse.com:
Believe it or not, the #1 trait every family that’s able to carry wealth to their third generation has is fear.
This trait is not always positive.
Often it is the reason those with a lot of money accumulate wealth in the first place.
They are afraid of not having enough.
They are afraid of losing what they gained.
They are afraid of making the wrong choice, or missing an opportunity.
They are always playing the survival game.
If it becomes an obsession, of course, it would be a problem, but generally, developing a healthy sense of fear is a good thing. Especially, if you want to protect your wealth. Making peace with your fear is what will allow you to accept that your money could be siphoned from you slowly, or quickly depending on what goes wrong.
All that is up to you.
But that brings up another problem. It WAS up to you to earn your money. Once you have it you are reminded of just how much you did to get it. And that’s called pride.
Pride will set you in your ways, and blind you from an investment world that changes quite quickly.
So, it’s ok to worry a little.
To worry a little bit about what your children’s children will have.
It will make you think about how you are treating your next generation, but it will also make you think a little differently about their education.
It’s ok to worry for them, not only because you want them to have the life you now live, but also because they are assets.
Fear for your assets with care and concern.
This will bring you plenty of returns. Not only in money, but in a wealth of relationships in your old age.
So, if you were wondering if it’s ok to be worried about the state of the dollar. Yes, that’s what those with multi-generational wealth worry about.
It’s pretty normal to have a healthy sense of fear, but not all the time.