Been listening to a lot of interviews these days. I swear I should have been a psychologist, I would be excellent. When people talk about their live journeys and the legacies they want to leave behind, many if them mention securing a wealthy inheritance for their children and grand children, this is mentioned mostly by people who had a rough journey in life. They experienced the difference in living with and without wealth. This idea left me provoked about inheritance.
Studies show that many people who inherit wealth do not grow it, they actually spend it until they are left with next to nothing then they have to go find a job. Finding a job based on such a circumstance is not ideal because the motive behind the job is based on making money rather than building something which will make a difference or something which will fulfill you. Your life will basically be miserable from there on because all you will be thinking is bills and you will not be fulfilled. People rather do what fulfills them and find a way of selling it.
We are often informed on the news that billionaires are pledging most of their wealth to charity organizations rather than leaving it to their children, most of their reasons are based on the fact that they know that their children will figure life out without those fortunes. That is understandable because if your parents are billionaires they should have taught you how to make money, therefore your life is not based on the money but on doing what fulfills you as a person because financially you can secure yourself.
I asked myself a question, “are these people suffering from struggle mentality?” Maybe they are because they experienced the extremes of poverty, and they saw how the access to cash changed their “hustle”.
How much inheritance did you earn? What kind of lifestyle can it afford you? Will you still need to go find a job because it might run out? This is how our kids lives will look like because we are busy securing wealth for our kids. What are they going to do with their lives if chances state that they might not grow their wealth? How are they going to teach their kids how to create wealth if they don’t know how because they are enjoying yours? If your kids are not taught how to create wealth they are going to lose it.
What will happen to kids which wont inherit wealth ? Will they be generational labourers? Possibly.
A future of inheritance can be dark if inheritance is not passed on with knowledge, it could be a burden which would place a kid without inheritance at an advantage.
I believe in teaching a kid how to fish rather than feeding them, because if you feed them you will have to feed them forever. Seems like this is a billionaire mindset since they are giving away their wealth.
I was also provoke my a documentary by Jamie Johnson, called “the one percent”. I asked myself one more question; “will a future of inheritance really be bright for my kids if they wont grow it and if they will possibly do nothing with their lives ?”
Botlhale • Mos