Finance

How To Master Generational Wealth With 3 Principles

1 Mins read

Generational wealth is a product of deliberate decisions at the right time.

1. Decisions decide wealth;

Do you know the price of one bitcoin was less than a dollar when it was launched but many people did not understand the new technology.

Thus, Laszlo Hanyecz had a lot of bitcoins. On May 22, 2010, he bought two pizzas for ten thousand (10,000) Bitcoin. It seemed like a joke to him. 10,000 bitcoin then was worth less than 100 dollars. 10,000 bitcoin today is worth one hundred and fifteen million dollars ($115,000,000), this is not a joke anymore but I am sure you caught the joke – your ‘decisions decide your wealth’.

2. Wealth Is A Process, Not An Event;

In 2005, Gradish Duzak won the zap millions lottery jackpot! It was worth $50 million at the time. What a resounding event! Duzak was finally rich beyond his dreams Three year later Duzak was flat broke almost homeless – sounds like a familiar story right? I bet you have heard one quite similar! It happens all the time. The moral of the story remains however, that generational wealth is a process not an event. To keep wealth over time requires hard and constant work not one time luck

3. Wealth Must Be Disciplined So It Doesn’t Become Wayward;

A fool and his money will soon part ways according to an old proverb. Lasting wealth is for the disciplined not the freehanded. Habitual retention of income is the pathway to lasting fortunes. Delayed gratification is always a useful tool to discipline the mind. Riches do grow wings that itch to fly, these wings must be deliberately tamed. Learning to make income procreate is always better than learning new ways to spend income.

The first and most important cure for a lean purse is to learn to keep what you have already earned secured.

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