2 Reasons to Achieve Wealth for Multiple Generations
Your values and your way of having made this world a better place.
Generally, the articles I write focus on the economic cycle, macroeconomic trends, and how we can position ourselves to protect our portfolios from any recession. I also place a lot of emphasis on reducing risk and trying to capitalize on bullish trends.
It may seem impossible, but time is proving us right. It's possible to have a completely asymmetric portfolio that has yielded returns over 20% in recent years while maintaining more than 60% in cash.
Today, I want to focus on personal finance. I want to leave the short and medium term to talk about the (very) long term.
And why investing can transcend the mere act of making money.
There's a study in which many people on their deathbeds were asked what they regretted most in their lives. You've probably heard of this study.
There were two main regrets:
Not having spent enough time with family and loved ones and spending too much time in the office.
The second was not having helped others enough.
Those of us dedicated to private business, especially large corporations (regardless of the sector), can see this in our daily lives: meetings, discussions, ... We go about like headless chickens.
Now tell me, how many of these people would you continue to have a relationship with if you didn't have your job and had one in another country?
Most of these people don't contribute anything to us and simply cling to us out of interest. Once the interest ends, so does the relationship.
This doesn't mean that you should quit your job. Work is an excellent tool for accumulating capital that allows you to invest in what you truly desire.
This will allow you to: 1) not spend it and 2) make (as Kiyosaki says) your money work for you.
The New Generations
We are facing one of the laziest generations that has existed in recent years. They have everything one could ask for, except the willingness to work.
The generation born in the 60s-70s, during the baby boom, had other values, from which the current generation is benefiting. People no longer seek well-paid jobs; they seek to work less. People no longer seek challenges or the best projects; they seek to do nothing.
Because of all this, I am totally convinced that, as Ray Dalio said, this will generate a generation of lazy people.
These lazy people will grow up without money, living off their parents, and it's very likely that they will generate long periods of recession.
In the end, everything is cyclical.
To all this, we must add the low birth rate. This will mean that in many countries of the world, unless you have a good pension plan or a 401k, you will not be able to live the rest of your life.
That's why I firmly believe that money is a tool to: 1) help yourself, and 2) help others.
Helping yourself to have free time, to be with those who really need you and with your loved ones. In the end, life goes by incredibly fast. Everything can change in a moment, and the only thing that will remain in the end, you know what it is?
It won't be all those office hours; it will be your values and your way of having made this world a better place.
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