I have not been a Family Financial Planner for very long. Some of the experiences I've learned, however, even in this short period of time have led me to believe I can help people by changing the "trajectory" of your thinking.
What do I mean by that? Simple. Trajectory is the angle upward or downward that a missile is fired, be it a bee-bee or stone from a slingshot or a bullet from a rifle or a long range ballistic rocket missile. Aim higher for a target longer away, aim straight forward for a short shot. When raising the trajectory in financial planning you set your sights on preparing to financially benefit your grand-children and great-great-grandchildren instead of just yourself and your own children or yourself and your parents.
Just as planning to be of benefit to your parents who may have not had the opportunities for, say, education that you may have had (they may have sacrificed all in order to send you to college) is a very good and admirable thing to do, setting your sights on preparing your estate to bless the lives of your more distant posterity is also a very good thing. Because it is easier to envision helping your parents and children because they are with you now, you may think something like, "I can't even wrap my thinking around how to plan for my great-great-grandchildren!" Don't worry. This is why I am writing: to help you see and understand what that map looks like and what steps are required to traverse the immediate roadway.
There are some things to consider when thinking about Multi-Generational Family Wealth Development - MG-FWD - that will likely be new, very new to you.
First, you must be prepared to talk about wealth creation with your children in the same way you will talk about driving and maintaining your vehicles. There is no mystery or secret to driving a car and auto-mechanics. It just takes education and practice and being safety minded.
Second, just as you can have more than one car at a time. In like manner you can have more than one financial "vehicle" that you are teaching your children to "drive" and maintain from their very young ages.
Third, It isn't being "sinful" in any way whatsoever to teach children how to use the various financial tools we call "Assets". Taking the "Rich Dad, Poor Dad" (Robert Kiyosaki) definition of asset as anything that puts money into your pocket, teaching children how to accumulate assets so they will have more tools (cash in the bank) with which to do good is a very good thing.
Teaching children to associate money in all of its different forms with being of service to mankind (including immediate family, neighbors and community) will create in your family the greatest of all possible assets: creative, generous, benevolent business people who have also been taught how to duplicate themselves. Who taught them? You.
These are three of the first steps along the roadway of Multi-Generational Family Wealth Development - MG-FWD - a roadway that spans not just generations but often times centuries! These are families that, because of a culture of educating their youth in the ways of benevolent wealth creation and maintenance, have amassed the resources over time to do great good such as begin and support colleges, universities, hospitals and other excellent people-serving organizations. They also, of course, establish people-serving businesses that employ hundreds or thousands of people, giving them opportunities to support themselves. What better service can person-A give to person-B than to give an opportunity to work and support self and family? Without the service employers give to employees - the service of giving them a job - local and national and international economies fail.
Take a few moments right now to wrap your thinking around these few ideas. Consider teaching your children how to save money, not for a rainy day but for future wealth creation. Consider combining your religious doctrines, i.e. loving and serving God by loving and serving your fellow man, with principles of serving by creating employment opportunities for others. Consider establishing a family culture of benevolent wealth creation that will bless not only your own children but also your grandchildren and your great-great-grandchildren.
In doing these few mental exercises you will raise your eyes to a target further down the time-line; your visionary trajectory will change which will change your immediate day-to-day activities. You will immediately begin to spend less and save more so that you can teach your children by example and show them the things you will be learning here on this blog.
Start here. Raise your eyes to see further down the road. Keep reading, not just this blog but here is a good place to start. As you grow you will develop greater vision and habits that will create results that will, in an amazingly short period of time, astound you.
Take these first three steps and you will soon - within 18 months - begin to see the effects of a Law that a very smart man, Albert Einstein, called "The 8th Wonder of the World": The Law of Compound Interest over Time.
My next report will explain what I call "The Teeter-Totter of Habit".
Sign up now to follow this blog. You won't want to miss a single idea of Multi-Generational Family Wealth Development or MGFWD. I like to call it looking and going "MG-FWD = MEGA-FORWARD".
Let's take the trip together, A? (I'm from Canada, A? Can you tell?)
Sign up now.
I'll keep you posted.
God Bless.
Cameron Cv
What do I mean by that? Simple. Trajectory is the angle upward or downward that a missile is fired, be it a bee-bee or stone from a slingshot or a bullet from a rifle or a long range ballistic rocket missile. Aim higher for a target longer away, aim straight forward for a short shot. When raising the trajectory in financial planning you set your sights on preparing to financially benefit your grand-children and great-great-grandchildren instead of just yourself and your own children or yourself and your parents.
Just as planning to be of benefit to your parents who may have not had the opportunities for, say, education that you may have had (they may have sacrificed all in order to send you to college) is a very good and admirable thing to do, setting your sights on preparing your estate to bless the lives of your more distant posterity is also a very good thing. Because it is easier to envision helping your parents and children because they are with you now, you may think something like, "I can't even wrap my thinking around how to plan for my great-great-grandchildren!" Don't worry. This is why I am writing: to help you see and understand what that map looks like and what steps are required to traverse the immediate roadway.
There are some things to consider when thinking about Multi-Generational Family Wealth Development - MG-FWD - that will likely be new, very new to you.
First, you must be prepared to talk about wealth creation with your children in the same way you will talk about driving and maintaining your vehicles. There is no mystery or secret to driving a car and auto-mechanics. It just takes education and practice and being safety minded.
Second, just as you can have more than one car at a time. In like manner you can have more than one financial "vehicle" that you are teaching your children to "drive" and maintain from their very young ages.
Third, It isn't being "sinful" in any way whatsoever to teach children how to use the various financial tools we call "Assets". Taking the "Rich Dad, Poor Dad" (Robert Kiyosaki) definition of asset as anything that puts money into your pocket, teaching children how to accumulate assets so they will have more tools (cash in the bank) with which to do good is a very good thing.
Teaching children to associate money in all of its different forms with being of service to mankind (including immediate family, neighbors and community) will create in your family the greatest of all possible assets: creative, generous, benevolent business people who have also been taught how to duplicate themselves. Who taught them? You.
These are three of the first steps along the roadway of Multi-Generational Family Wealth Development - MG-FWD - a roadway that spans not just generations but often times centuries! These are families that, because of a culture of educating their youth in the ways of benevolent wealth creation and maintenance, have amassed the resources over time to do great good such as begin and support colleges, universities, hospitals and other excellent people-serving organizations. They also, of course, establish people-serving businesses that employ hundreds or thousands of people, giving them opportunities to support themselves. What better service can person-A give to person-B than to give an opportunity to work and support self and family? Without the service employers give to employees - the service of giving them a job - local and national and international economies fail.
Take a few moments right now to wrap your thinking around these few ideas. Consider teaching your children how to save money, not for a rainy day but for future wealth creation. Consider combining your religious doctrines, i.e. loving and serving God by loving and serving your fellow man, with principles of serving by creating employment opportunities for others. Consider establishing a family culture of benevolent wealth creation that will bless not only your own children but also your grandchildren and your great-great-grandchildren.
In doing these few mental exercises you will raise your eyes to a target further down the time-line; your visionary trajectory will change which will change your immediate day-to-day activities. You will immediately begin to spend less and save more so that you can teach your children by example and show them the things you will be learning here on this blog.
Start here. Raise your eyes to see further down the road. Keep reading, not just this blog but here is a good place to start. As you grow you will develop greater vision and habits that will create results that will, in an amazingly short period of time, astound you.
Take these first three steps and you will soon - within 18 months - begin to see the effects of a Law that a very smart man, Albert Einstein, called "The 8th Wonder of the World": The Law of Compound Interest over Time.
My next report will explain what I call "The Teeter-Totter of Habit".
Sign up now to follow this blog. You won't want to miss a single idea of Multi-Generational Family Wealth Development or MGFWD. I like to call it looking and going "MG-FWD = MEGA-FORWARD".
Let's take the trip together, A? (I'm from Canada, A? Can you tell?)
Sign up now.
I'll keep you posted.
God Bless.
Cameron Cv
