Enjoy Your Wealth

Most people are far wealthier than they believe, yet lack that key ingredient that will allow them to truly enjoy their wealth: knowledge. Understanding how to make money work for them more effectively can mean the difference between living a fulfilling life, or one spent slogging away…

Most people have dreams and ambitions when they’re younger, and the younger they are the more audacious those dreams seem to be! But as time goes by each one seems to get further out of reach until a lifetime has gone and those cherished ambitions lay unfulfilled.

So what happened? Why didn’t they achieve those goals they wanted in life?

What’s often called a ‘reality check’ kicks in at some point, and when this is to do with finances the result can be devastating for those dreams. Putting it simply, it’s when an individual realises their current way of earning a living can’t support their ambitious goals and so something needs to change.

In most cases a person’s dreams get put to one side as they concentrate on their careers, family, and other commitments that have come along to displace them.

Someone I know always wanted to be a writer, right from her earliest years. At school her careers advisor said: “You can’t make a living from writing” and that set her career course for the next 20 or so years until she finally found a way to be financially free and pursue her passion for writing.

It doesn’t matter whether you’re rich or poor, what counts is your mindset. If you understand how money works and how you can make it work for you instead of being a slave to it, then you gain freedom and independence.

That’s what the Generational Wealth Club is all about.

One of the definitions of wealth is to have an “abundance of valuable material possessions or resources”. In other words it’s down to the knowledge you possess, the value of your property, and the wisdom of how this is managed.

Rich people rarely stay rich unless they understand these principles, as the story of many a big lottery winner will attest.

But wealth isn’t the sole preserve of those who have inherited it, but is open to anyone who learns and applies the knowledge rich people use every day.

Thomas J. Stanley and William D. Danko’s book ‘The Millionaire Next Door’ illustrates how everyday people can change their financial outlook by taking small, consistent steps towards their financial goals.

Another must read is ‘Rich Dad, Poor Dad’ by Robert Kiyosaki.

Many people talk about their ‘savings’, yet savings are not going to set them free. Investments and good financial education will, and importantly it’ll open the door allowing their children and grandchildren to also lead fruitful lives.

A sound portfolio of investments that can provide a job replacement passive income offers security and choice – and the choice for many is to rekindle those lost dreams and live life as they want, not being a slave to the system.

I started by saying “most people are far wealthier than they believe”. I discovered this when I was doing some work for a will writer. Estate planning is an essential element in preserving generational wealth and is something rich people understand thoroughly, while poor people prefer not to think about it until they’re knocking on death’s door.

To assess how much tax an estate is liable for and therefore put structures in place to mitigate this, a good estate planner will find out how much a house is worth, what savings and investments are held, and what the small print hidden in pensions documents contain.

Everyone I spoke to was either surprised or shocked how much they were actually worth, and in all cases is was far higher than they imagined.

Before I finish this post I’d like you to think back to the thing that really got you excited when you were younger, or what passion really lights a fire inside you now.

I’d also like to ask, is this what you’re pursuing right now? If not, why not?

Come and join us. We can set you on the right track to gain financial independence so you have the freedom to really chase after the thing that makes you feel alive.

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Steve Thomas

Steve Thomas

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