Everybody has different perspectives on money. Did you know that the majority of your views on money have been taught by your parents? Did you know that there is a big difference between what rich parents are teaching kids about money, versus the middle class?
For those of you who are curious about the different lessons that the rich are teaching children about money, here are some things you may find interesting.
Buy Assets, Not Liabilities: Assets put money into your pocket, liabilities take money out of your pocket. Owning a rental property puts money into your pocket every week, buying a car on credit takes money out of your pocket every week. If you spend your life focusing on buying assets, you will create a snowball effect that will eventually effortlessly pay you until you do not need to work anymore.
Employees Have It Harder, Companies Have It Easier: Governments know that the key to having a thriving economy is to focus on making things easier for companies to make a profit. When employees get paid, the government has already taken its share of taxes. In contrast, companies get paid first, they pay tax to the government on what remains after expenditure. This makes a big difference.
The rich take advantage of this system, by ensuring they own companies. In contrast the poor and middle class, generally will remain employees their whole life. This means that the rich actually pay less tax than the poor which may come as a surprise to many people.
The poor and middle class have a habit of telling their kids to study hard in school, get good grades, go to college and get a secure job. In contrast to this rich parents encourage their kids to invest in property, start their own companies.
So if you take anything away from this article, please remember this: Pay attention to your own attitudes and behaviour towards money, because your kids will learn most of their own attitudes from you. All parents want the best for their kids, so make sure you are leading by example for their sake.
For those of you who are curious about the different lessons that the rich are teaching children about money, here are some things you may find interesting.
Buy Assets, Not Liabilities: Assets put money into your pocket, liabilities take money out of your pocket. Owning a rental property puts money into your pocket every week, buying a car on credit takes money out of your pocket every week. If you spend your life focusing on buying assets, you will create a snowball effect that will eventually effortlessly pay you until you do not need to work anymore.
Employees Have It Harder, Companies Have It Easier: Governments know that the key to having a thriving economy is to focus on making things easier for companies to make a profit. When employees get paid, the government has already taken its share of taxes. In contrast, companies get paid first, they pay tax to the government on what remains after expenditure. This makes a big difference.
The rich take advantage of this system, by ensuring they own companies. In contrast the poor and middle class, generally will remain employees their whole life. This means that the rich actually pay less tax than the poor which may come as a surprise to many people.
The poor and middle class have a habit of telling their kids to study hard in school, get good grades, go to college and get a secure job. In contrast to this rich parents encourage their kids to invest in property, start their own companies.
So if you take anything away from this article, please remember this: Pay attention to your own attitudes and behaviour towards money, because your kids will learn most of their own attitudes from you. All parents want the best for their kids, so make sure you are leading by example for their sake.
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