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8 Habits For Building Generational Wealth

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Today we will discuss the importance of an individual involved with a tribe to be focused on creating generational wealth. First we need to recognize that wealth is more than just money. The truth is wealth is the ability to create a legacy, a legacy of healthy and happy families. Wealth is the ability to build a business that creates jobs, employs hundreds or thousands of people, generates tax revenue for your community and creates prosperity for your entire tribe. Wealth is the ability to fund research and development that leads to cures for diseases that plague our people. Wealth is the ability to build schools, universities, healthcare facilities and cultural centers for your tribe. Wealth is the ability to be a leader in your tribe, and serve as an example for others in your tribe. Wealth is more than just money. Wealth is the ability to create something of value for yourself and others, and to leave something behind for the future. Here are some questions to wrestle with:

What does the term generational wealth mean to you?

What is wealth to you?

What are you passionate about?

What do you think is the most important element of creating generational wealth?

Generational wealth is an ambitious goal. It is almost impossible for a single person to accomplish. Generational wealth can not be done in isolation, but only with the support of a strong tribe around us. Starting one business is challenging enough for most people. Having multiple sources of income working on multiple streams of revenue is nearly impossible for one person to build and manage alone. A generational business builder should develop a business plan and strategy from day one that includes more than just one product or service. A strategy designed around multiple streams of revenue will enable the business builder to build the resources needed to deliver products and services that stand the test of time, offer great value, and provide exceptional service. Here are 8 points to consider:

1. Develop a clear vision for your future, wealth is measured by your health, relationships and freedom

2. Be willing to change your mind

3. Be willing to invest time and energy in yourself , and learn to create value

4. Seek advice from wise people

5. Live within your means so you don’t tie your money up

6. Diversify your investments to reflect your goals

7. Be willing to lose money as an investment in future generations, your primary focus should be on creation wealth and not just money

8. Let time do its job – spend only what you have and let compound interest do the rest!

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