Family wealth is undoubtedly an area where members must learn to have enough to satisfy. However, we take for granted the basic principles of life that have the power to move us toward that goal.
Since I started a family, managing the family asset of our little family has never been a more serious matter. In addition to the blood, sweat, and tears we shed to increase the family's wealth, there are life principles we need to learn that we, unfortunately, take for granted.
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Principle 1: Who can be entrusted with a small fortune, can be entrusted with a larger fortune.
The couple started a family with no money or big debts. Within a year they turned things around – lots of money and zero debt. You learn 3 ways to save, share and send investments. Good management is paramount.
Principle 2: The more we hunt for money, the more we run away.
A young man who kept borrowing books from a friend instead of buying them thought he was saving to get rich. The fact is not getting richer in money, but getting richer in the addictions that precede poverty.
Principle 3: We are blessed with wealth to share with others.
As we accumulate more wealth, the tendency is to raise our standard of living for greater comfort and self-confidence. Then we ask ourselves why, even with more money, we still don't have enough for ourselves, much less to share with others.