What Do Self-Millionaires Teach Their Kids?

Advisor January 11, 2018

Oftentimes, we feel envious of those kids who were born rich because we feel like they already have everything in their hands. They’re already born with a golden spoon and they can do and get what they want in a snap, thanks to their parents who work hard to earn their financial stability. But do all rich kids really end up being a spoiled brat? We don’t think so. Instead, most rich “kids” end up adopting the frugal and business-mindedness of their parents because they instilled great values in their children. Here’s what self-millionaires teach their kids, and we recommend you to apply it to your kids for when they become successful too!

You Deserve to be Rich

Everyone Deserves to be Rich

Most of us think that being rich is a privilege, it’s only applicable to those people who earn a college degree with great salary income. But that’s not necessarily true. The truth is, everyone has a right and is entitled to get rich. In fact, most of the self-millionaires nowadays were born poor. But they worked hard in order to uplift their lives and achieve their goals. And when they become successful in their own field of endeavors, that’s when they get rich. If you feel like you’re not motivated enough to get yourself rich, remember this old adage: It’s not your fault if you’re born poor. However, it will be your fault if you end up being poor.

That’s why we encourage you to work hard for your dreams. You deserve to be rich and achieve all the goals and priorities you have in your life. You may also think that investing is only for rich people (since you need a hefty amount of money as capital), but that’s not true. In fact, most successful people invest in order to become rich.

Wealth Creates Freedom

Being Wealthy Creates a Freedom In Your Life

If you’re wealthy, then you can be financially free. You can live your life on your own terms. It gives you the freedom to choose where you want to live, how to live your life, buy the things you need and you want, basically do what you want. You can also travel wherever you want without worrying about constraining or draining your pocket. That’s why they advise you to manage your money well. Another secret to becoming rich is not about how much you earn, but rather, how much you can save. That’s why it is recommended that you allocate at least 20% of your income to your savings. Eliminate any debts as much as possible to ease your financial woes and allow you to enjoy your life.

Deliver a Solution, The Money Will Come Later

Have you noticed that most of the richest people on Earth also have a great influence in uplifting our lives? Take for example how Steve Jobs changed our lives with his invention of Macbooks and iPhone, the first Smartphone in the world. Or how Mark Zuckerberg enabled us to connect people around the world. If you have a fantastic idea and you want to start a business, then you must remember this one important advice: you need to give a solution to your customers. You must solve their problems. And when you do, that’s where your money will come in.

Steve Jobs Changed the World By Introducing iPhone

The truth is you should see the problem as an opportunity to get rich. Why? It’s because a problem represents there is an opportunity or room for improvement. Your mission is to find that solution or opportunity to solve the problem. And when you do, your customers will remain loyal to your products or services because they know you have a solution to their problem. That should be the essence of your business.

Believe In Yourself

Be Confident In Yourself. You Can Achieve Your Dreams

Of course, no matter how much you managed your wealth well or how intelligent and witty you are in solving a problem, all of it would be in vain if you don’t believe in yourself. You cannot manage your money well and save if you don’t believe that you can get rich. You cannot establish a business or achieve whatever dream you have if you cannot overcome your self-doubt and fear. The road to success and becoming rich is filled with setbacks, failures, and disappointments. So whenever you feel like giving up, remember why you started in the first place. Don’t abandon yourself, because if you cannot achieve your dream, who else will?