Generational Wealth Is Pointless
How generational debt is holding you back…
How generational debt is holding you back…
Generational wealth is pointless, until you first address generational debt.
What is generational debt?
No, its not money you owe because your mom passed away or your favorite uncle.
Generational debt as I define it has nothing to do with money. Except it does influence, impact and shape everything in our personal finances :
Lies we’re told
Myths that are created
Fears we carry
Traumatic emotions and events
Shame we have
Guilt we hold
Our overall understanding…
All of this given to us by our family at childhood. Here are some examples:
“We can never afford that
You’ll always have a car payment
That side of town is for the rich
Debt is a part of life
You have to get a loan to go to college
This family will never make good money
I’m not cheap, I spend responsibly
You need to save money
Only buy store brands
I feel bad spending money on myself
I save all my money because my mom went bankrupt when I was a kid
I fear going broke, so I don’t spend money
When______ gets elected President things will be better”
The things we tell ourselves, believe and feel are many. We inherit these from the people we are around and it starts from the people we love most. In order for generational wealth to be realistic, we must first remove the roots of all the damaging views and beliefs given to us. Otherwise, we will never build any wealth.
Generational wealth is the investing and managing money and other assets to a point that the next generation of your family will be wealthy. And the cycle repeats itself again and again. But, we will never get there if we don’t let go of all this old, heavy, smelly baggage we carry.
Dan Roman is a Husband, Father, and writer that releases a daily blog. A quick read on money, marriage, parenting, self-improvement, development and his thoughts. Dan is also Founder/Creator of Roman Solutions, a Personal Finance Firm that currently provides coaching and education.
To connect with Dan visit: linktr.ee/bydanroman
Or by email : financialdifference@danromansolutions.com