GENERATIONAL WEALTH

Henry C. MurphyJun 28, '22
Generational wealth is simply assets, stocks and bonds, real estate (and so forth) that can be passed down to children or grandchildren. Who would argue that this isn't an amazing thing? I wholeheartedly believe in generational wealth. There is an astonishing 91% of self-made millionaires who have passed down generational wealth. This is good news. The challenge is how do we pass down the information for our families, without squandering generational wealth? 
My grandfather left my father with nothing. My father was determined to have a different outlook on money. He disciplined himself and saved over $100,000 and taught himself how to do stocks.  My dad had discipline at an early age that I am just adopting later in age. I wish I would have grasped this when I was younger, but I was hardheaded. 
God has given me the ability to create and sell. I have made a lot of money and lost a lot of money. The main reason I lost a lot of money is because I didn’t ground myself in key financial areas. Discipline and knowledge is important; currently, I am in the season of grounding myself in financial literacy. What would be the point of making $10 million and losing it all because of lack of discipline and knowledge? My dad was key in certain seasons when I needed $10,000 here and there. I appreciate those moments more than he knows, even though I hated asking.
I have one granddaughter, named Arie. When she was born, I was already an entrepreneur. I created an Unapologetic for Kids apparel line so that she could have something when she gets older. My goal is to immerse her in financial literacy. I would do her more harm than good if I was able to pass down a million dollars without her being ready for it. We have to make sure we are training up the next generation to be financially responsible. 
#GodBlessTheEntrepreneur 

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