Focus on giving your children wisdom. Giving them wealth without wisdom is poor stewardship and poor planning on your part.

Teach them by your words and deeds that money does not buy happiness. Show them the value of relationships.

Be deliberate and consistent about how to be a good steward over what they have, especially when they have little.

Demonstrate unconditional love and create a safe environment at home while also giving them discipline and grit.

(1) Skill acquisition
(2) Training
(3) Seminars
(4) Mentoring
(5) Early Investment mindset
(6) Redefinitions of current spending culture
(7) Thrift

These virtues should be passed on to current generation.


One of the best ways to improve your personal finances is by investing intentionally in cash flowing assets.
The most common are real estate rentals, businesses and royalties.

Your first step is to protect your savings from the external influence of monetary policies that will “evaporate” the value of your hard work.
Be in control of your finances and #NeverGiveUp!

 

The lesson of the analogy:

1. Money is only a mechanism of exchange that holds a temporary storage of value.

2. If you save cash, time will ‘evaporate’ its current value.

3. Some assets protect us from monetary volatility. This is especially important in third world countries.

4. Accumulating assets may not be enough to guarantee your retirement because you will need to liquidate them to pay for your needs.

5. The water well represents cash flowing assets. These assets produce passive income, meaning they produce cash even while you sleep.