Rich plans to leave Educational Trusts for their GrandChildren
Rich people have a very long term vision when it comes to money matters. Most of the truly wealthy people plan Educational trusts for their Grandchildren to fund their grand children’s higher education.
While Most of the high income/low net worth people (Upper Middle Class) plan to look cool and rich. I have observed that, several of my friends only focus on looking cool and rich. They plan for buying luxurious clothes, cars..etc.. They spend hours and hours every day behind planning to buy a luxurious cars or clothes.
While at the same time, someone else is planning to buy Assets (Stocks, Bonds, Gold, Businesses) and to set the educational trust for their grand children. Of course, these are not the tangible benefits so most of the people can’t see these benefits with their eyes.
But over the period of long time horizon, these benefits realize. And the future generations of those who plan their financial futures become more financially secure and independent than those who have focus and spend their whole of the life to plan how to buy luxurious items?
The reason why most of the people struggle financially is that, they plan to focus on those things which will never give them any financial benefits in future. A luxurious car or a brand new mobile will never give you a Dividend, Capital Gains or any kind of Passibve Income. But the time focused behind buying assets or growing the existing assets wil give you financial benefits in future also. And after that you can afford to buy all of those luxurious items without going to work hard in the economy. Because the Income from your Assets (Passive Income) will afford all of those luxuries.
Rich people have a very long term vision when it comes to money matters. Most of the truly wealthy people plan Educational trusts for their Grandchildren to fund their grand children’s higher education.
While Most of the high income/low net worth people (Upper Middle Class) plan to look cool and rich. I have observed that, several of my friends only focus on looking cool and rich. They plan for buying luxurious clothes, cars..etc.. They spend hours and hours every day behind planning to buy a luxurious cars or clothes.
While at the same time, someone else is planning to buy Assets (Stocks, Bonds, Gold, Businesses) and to set the educational trust for their grand children. Of course, these are not the tangible benefits so most of the people can’t see these benefits with their eyes.
But over the period of long time horizon, these benefits realize. And the future generations of those who plan their financial futures become more financially secure and independent than those who have focus and spend their whole of the life to plan how to buy luxurious items?
The reason why most of the people struggle financially is that, they plan to focus on those things which will never give them any financial benefits in future. A luxurious car or a brand new mobile will never give you a Dividend, Capital Gains or any kind of Passibve Income. But the time focused behind buying assets or growing the existing assets wil give you financial benefits in future also. And after that you can afford to buy all of those luxurious items without going to work hard in the economy. Because the Income from your Assets (Passive Income) will afford all of those luxuries.
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