Written by Bryan Lutz, Editor at Dollarcollapse.com:
Many times, when the adult and elderly generations are raising children they do these things…
They want them to enjoy life.
So, they give them everything that could make their life pleasant.
They attempt to fulfill all their children’s desires.
And then, when the children come of age, they take their children with them to meetings with the accountant, the financial advisor, and the bank simply to say…
“This is how you be wealthy.”
“You manage the finances.”
“And you do that by making sure your money works for you.”
When really, this is far from the truth of what actually needs to happen.
In my last three emails, you might have some insights into the matter of what each generation MUST do to preserve wealth because I showed how the ultra-rich invest their money.
Well, what I’m about to show you has nothing to do with each generation learning how to:
- Invest in Income-Producing Real-Estate
- Own a Private Business
- Or hold cash to invest in any of the above at the right time.
Here’s the answer. What each generation MUST do to preserve wealth…
Especially, during the decline of the US dollar and industry.
Because the harder it gets to preserve the value you and possibly your previous generation created, the more important wealth preservation becomes.
Each creation must learn to work.
They must be taught that struggle is a part of life.
That’s why we especially do not want to treat them like they are rich, or even the extreme opposite, that they don’t deserve anything.
It is fine line between struggle and support, but that is what allowing them to make their own decisions and keeping them accountable is all about.
There’s no need to immediately rush in to save them…
Because consequences are sometimes the best teachers.
Choice and consequence happen while working. And out of that work each generation finds meaning. Something the author of ‘Man’s Search for Meaning’ , Viktor E. Frankl would see as foundation for times of crisis.
Really, finding meaning is foundational for life. And it allows you to see your work as a contribution to others (not just the meaningless accumulation of more money).
It doesn’t matter what job they start, not even if they have reason why they do it…
What matters is the discover of how they do their work.
Because how we do our work is where we discover the sustaining why.
That is what each generation MUST do to preserve wealth – to learn to work with purpose.