Losing Wealth in Three GenerationsDecember 20, 2021 2021-12-20 21:19
<strong>Losing Wealth in Three Generations</strong>
Losing Wealth in Three Generations
“Hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times.”
The accumulation of something great takes eons, and consumption on the other hand happens in a jiffy. Fortune is one of the great gifts of life that everyone fantasizes about. Not everyone gets to achieve that level. Some do it through sheer commitment and others are just lucky. Whatsoever is the case, fortune and power keeps slipping away from family to family since the dawn of humanity.
Why do people loose wealth after three generations? Well, they fail to plan which eventually is planning to fail.
Not planning ahead has plagued the great emperors in old times. From Mughal Dynasty to, present was what they focused on. Far sightedness has been a missing piece in their strategy and that’s what cost them their existence. So its all about good times creating weak men.
Good times do create weak men. Luxury handicaps us all. Ordering food online has ruined the dine in industry. Dining out is an entire culture. Getting dressed up, and going to one’s favorite place to eat while sharing the room with some other people. The experience is one of a kind. However, today, we prefer to stay indoors and eat on the table where we eat every other day. It’s hard to decipher the damage being done here but one who does understand indirectly understands why wealth is lost in three generations.
Earning Vs Inheriting
The overall value of something after it has been earned is much higher than just getting it without any effort. We tend to take care of the things we deserve. Getting something just because we were born in a particular family makes us ungrateful. Ungratefulness brings along procrastination.
An ungrateful man will always complain and seldom work for making improvements in his life. Whereas a grateful man understands that good things do take time and whatever he has in life is enough for him to keep going towards his goal. All in all, we value things when we earn.
Crux of the Matter
A stitch in time saves nine!
Life is all about the right decisions. There are tons of people who amass huge wealth but in a couple of centuries, nobody remembers much about them. It happens because the generation to whom, the wealth is transferred do not understand how to manage it. We can’t handle what we didn’t make. It is tricky and if someone is responsible enough, he/she will make sure that they are not sitting as a parasite on their inheritance wealth.
The stitch that we are talking about here is resuming the investments, working on startups and getting the right exposure. If you have something valuable, learn the art of that thing. Everything about it should be on your fingertips. If you have gold, become a goldsmith. Find the right people, the right company, because you might go fast on your own, but you won’t be able to go far on your own.