There is a strong yet delicate link between individual wealth and the wealth passed down to us over generations. What can we learn from our familial connections? And how can we make this link stronger over generations to come?
Children, in all their innocence, often ask questions that can puzzle even the best of us. Some of these questions have answers that we just don’t know, like why are there so many languages in the world? Some have answers that we do know, but are hesitant to give, like is grandpa now in heaven? And some are so abstract that we don’t really know where to begin.
“Are We Wealthy?”
Though the question is phrased in a way that a simple “yes” or “no” would suffice, surely none of us with children has ever answered it in such a way. While the broader concept of wealth might relate to larger themes of freedom, purpose and belonging, even the more literal definition of wealth demands a closer examination. In its essence, wealth is as much an individual accomplishment as it is a generational one. To put it simply, we can understand our wealth as a function of two key factors.
The first being that a significant part of our wealth is dependent on what we inherit from our parent, grandparents or other family members. Only when we account for this can we paint a fair picture of our wealth.
After we do the math and add up the numbers, we must not forget to factor in our background. The values, principles and opportunities we receive throughout our lives are significantly impacted by our surroundings and the environment in which we grow. They have a strong impact on our ability to create wealth and what we eventually inherit.