Leaving Inheritance for your Children’s Children

By Nicola Smith Jackson

We’re gonna be talking about the raw truth: what they didn’t tell you about money. This is gonna be a touchy topic for many people and that’s intentional. We have to be touched in areas that we’ve never been touched before, so we can go to higher heights and we’ve never been before. Mandating that in this generation, with all of the growth and technology and things like that, comes down to financial literacy, financial intelligence or financial intuition. You haven’t grown nowhere near as much as we’ve grown in all these other places that makes us more consumers or borrowers versus investors and vendors.

 

The word says a good man leaves an inheritance to his children’s children

We need to be intentional that we actually are passing on values and skills that will actually prove to be more valuable than manifested things. What I mean by that is if you teach your child now that he could have a million dollars, even if you haven’t done so, these are not theories, these are principles when we start talking about compounding and leveraging, and we teach them how to do this earlier rather than later, how to earn a million dollars versus us lead them a million dollars or even a million dollar home, chances are they will earn much more than a million dollars. 

In this day and time I want you to start talking about financial literacy. We are so focused on our kids doing well with this school system, so that we can say they have a diploma or a degree, and generation after generation, they’re graduating from school without the relative education that will make them financially free or financially independent of the system. So they’re striving to get a job and work for people who they don’t like or people they’ll like, instead of being able to learn how to make impact when they start working, like what you’re doing now, being able to work for joy and grow and contribution to whatever nation they’re living in, versus no matter how hard they work, they’re treated like they have no value.

 

Liability vs. Asset

I know you might say, well, I’m a minority or I’m Black, I’m Hispanic, I’m Asian and they don’t treat our kids the same way that they treat other kids. You might wonder why that is. You can trust me from the area where I am, that it starts -more than anyone would believe- at the core of an economic challenge, rather than just a color challenge. Whether it is true or not, when statistics show that a certain demographic of people are more of a liability versus an asset, to treat liability is different. Now, liabilities don’t have the resources and because they have no resources, they feel they don’t have, or they have limited traces. Yeah, we can just about live in every neighborhood that we want, because they’ll roll your money up to five times your annual income to go into debt, but you gotta jump through tons of hoops to borrow that five times your income to go build wealth. Pay attention.

If you are not in the Power Moves Group on Facebook click this link for more information and fun challenges so you can learn to overcome economic challenges along with your family and loved ones. Become an asset with Dame Nicola!

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