I’m going to level with you. It’s damn hard building a family fortune that lasts. This is how it goes for most families: A wealth creator creates a fortune. But he neglects his family. The family becomes dysfunctional. It breaks down. The family wealth is lost.
Will’s Family Matters
Last week, we looked at how to teach your children to use time to their advantage. They should do that by focusing on one single area of expertise. This way, their experience, knowledge and contacts compound over time. And this will allow them to make exponential returns in their niches.
This may be one of the most powerful success secrets that you could teach your kids: how to use time to their advantage. Time is a precious asset. Young people have a lot of it. They can put it to work and have it pay them huge dividends into the future. Or they can squander it. Most people do. Most people are up against it.
Last week, we talked about another way to unscrew your kids: Teach them to concentrate their forces and leverage their time and effort. You want your children to have an advantage by knowing something better than others. You want them to stay focused on an area where they have a distinct advantage.
Here’s another way to unscrew your kids: teach them to concentrate their forces and leverage their time and effort. This is a military rule. But making money is competitive. It’s a big advantage to have discipline and to know something better than others.
Today we continue our series on raising unconventional kids. As we’ve said, you want your children to become producers rather than consumers. You can help them do that by getting them to focus on private matters, not public ones.