Below is an article I was asked to write for my family reunion's newsletter. I hope you enjoy it and see where you can apply it to your own life and family. ~Charise
Generational Wealth:
A Journey to Freedom from
Limitation
Being a wife and mother of 3 beautiful children (Najilah, Jair, & Zaniah) has given me great motivation for being an entrepreneur. I’ve been working from home since 1998 so I’d already been on my own path to success prior to having my first child Najilah, but there’s nothing like looking into the precious little eyes of your children to fuel your desire for wealth even more.
I knew very early in my engineering career that corporate america was not for me, because my spirit craved freedom. While my schooling taught me discipline, it certainly didn’t teach me how to become wealthy. So while I’m sure daddy wasn’t happy when I left that good, paying job behind, I’m forever grateful that he taught me how to be an independent thinker because that’s what sparked me to ask different questions and seek the answers for myself. Thanks Da J
I knew there were people out there living the life of their dreams, having success, making money, and actually enjoying life, so I decided to study them so I could BE one of them. One of my earliest mentors said, “If you want to be successful in anything, study the successful man or woman because success leaves clues.”
This was when my education in wealth creation began. I wanted to know… how do the wealthy think? What do they do? How do they operate? What do they do differently that creates real generational wealth, something that can be passed on?
First and most importantly, I learned about the mindset that literally attracts wealth and it really became evident that the only limits that exist are the limits we place on ourselves.
There’s so much to be said about the mindset but I’ll just mention a couple of my favorite quotes here and I would encourage you to check out books and audios including Think and Grow Rich, The Science of Getting Rich, As a Man Thinketh, and You Were Born Rich to name a few.
Here’s one of my favorite quotes.
"Dare to challenge every limiting belief about yourself
and watch the true unlimited you reveal itself.”
And here’s another…
"You are a rich and
creative spiritual being. You can never be less than this. You may frustrate
your potential. You may identify with that which is less than what you can be.
But within you now and always is the unborn possibility of a limitless
experience of inner stability and outer treasure, and yours is the privilege of
giving birth to it.
And you will, if you can believe."
The other piece to cracking the “wealthy code” was the actual “how to” stuff. What’s different about how they operate? What are they doing that others aren’t doing? Briefly I’ll say that the most powerful concepts I’ve learned are that the wealthy use leverage and for the most part, they do not work for linear income trading time for dollars.
Instead they’re thinking of what they can do today (or invest in today) to create more leveraged cashflow that’ll continue to pay them over and over again for work they’ve done one time because Cashflow is Queen! And that cashflow can be through businesses or investments.
The key is that the wealthy create assets and those assets pay them so they’re not working for money. The money’s working for them. Leverage, compound interest, risk management (not risk aversion), automated systems, these are some of the things they use to grow their wealth and they’re what I’m using too.
One of my favorite authors who’s done so much to increase financial literacy around the world is Robert Kiyosaki, the author of Rich Dad, Poor Dad. He had two examples before him, one from his rich dad and one from his poor dad. Robert decided to model the thinking and actions of his rich dad and now, not only is he rich, but he’s impacting the lives of people all over the world. If you haven’t read it, pick up a copy or grab one of his other books. You may just pick up a clue or two :). In addition, he’s also got some great games and books for children at his website www.richkidsmartkid.com .
As a businesswoman and mother, I’ve made it a point to model successful people just as Robert did with his rich dad with my goal being to continuously shift and e-x-p-a-n-d my thinking so that I’m a living, breathing, walking example of abundance in action for my children because children model their parents. We’re their first teachers. My 6 year old daughter Najilah already models what she sees mommy doing. It's adorable when I catch her pretending to run her own business with her laptop and she's always got lots of her play money all around her. I just smile because I know one day she won't be pretending.
While money isn’t everything, it’s certainly right up there with oxygen J. I believe we are meant to live life abundantly. We can enjoy life more fully, give generously to our favorite causes and contribute to society in a bigger way when money’s flowing into our lives abundantly.
So, if it’s one thing momma knows for sure it’s that I’m creating a legacy for my children and future generations. In planting the seeds of abundance and conscious creation in my little sweetie pies very early, they’ll grow up understanding the principles of wealth creation and more importantly the connection between their thoughts and their reality.
Really the principles of wealth creation are the same as the principles for creating anything we want in our lives and it all boils down to our thoughts because thoughts become things.
“As a man
thinketh in his heart and mind, so is he.”
One of the most inspiring books I’ve ever read is called Reallionaire by Farrah Gray. It’s a true story about a young African American boy from the inner city of Chicago’s housing projects who became a millionaire by the age of 14. He started his first business at 6 and organized the youth in his community to look beyond their surroundings to what they wanted to accomplish. That’s called vision!
He made his own business cards out of brown cardboard and carried his lunch box as his briefcase. He was modeling the mentors in his life who he saw as successful, one of which was his mom who he would accompany to her business meetings. In his mind at a very young age he was already a success.
So when it comes to creating generational wealth in the family, I know that it starts in the mind. It starts with me. It starts with you. What are we going to do today so that tomorrow our children, grandchildren, and future generations are elevated higher and higher?
I’d like to encourage all of us as moms, dads, grandmas, granddads, aunts, uncles, nieces, nephews, sons and daughters to think BIGGER and grander. To be willing to let go of thoughts of lack and limitation that do not serve us. To set a new tone. To BE the light. BE the example. It all starts with a shift in thinking, tapping into what may be “new” information and then simply living it and sharing it!
The seeds we plant today will honor the amazing lineage we come from while bearing wonderful, abundant fruits for generations to come.
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