Finances have become a heavily discussed topic since we’ve all been forced indoors, to flee from the many forms of COVID.
An area of interest to note, is the way money should flow to offspring.
Quotes from celebrities and other high-net worth individuals have resurfaced through various media outlets, and it is surprising to find so much disdain around the idea.
Here are a few I will include for illustration purposes:
“I think inheritance is quite distasteful”
“I tell them all the time. We ain’t rich. I’m rich.”
“I am determined to leave my children no financial security.”
“They have to have the work ethic that makes them want to succeed on their own merit.”
I find this line of thinking to be abhorrent. . .and frankly, stupid AF.
When reading the mindset and reasoning for not leaving their children the largest portions of their wealth. I get the sense that, it is ego-driven.
It reeks of the “you have to go through that I went through” type of mentality.
Don’t get me wrong, I have nothing against people putting in the work to attain the level of affluence and status that matches it.
However, I also believe that everyone’s path to self-actualization doesn’t have to be the same. Why would you not want to expedite that process, as quickly as possible, for your children and the generations beyond?
Let’s talk about self-actualization for a moment.
An American psychologist by the name of Abraham Maslow created what he believed to be, a classification of what motivates human beings. You may have seen one of these diagrams in school once.
In his earlier models, self-actualization is at the peak of human ambition.
The motivation for one to realize their fullest potential; To be their true self as defined by the individual.
Creatively, morally, mentally, physically. . . a continuous state of “becoming” as stated by Maslow.
Hopefully you can see the giant, “but” I am about to present. BUT, glancing at the model shown above, there are other areas that must be somewhat fulfilled first.
In fact, herein lies the problem with our society. The vast majority of people spend so much of their lives trying to conquer these beginning areas, they never get a chance to reach the self-actualization phase.
Our lives, post-high school, is centered on surviving, let alone living fruitfully.
We endlessly jump from one fire drill after another, between advancing our careers, our education, raising our children, financial obligations, it begs the question: Where is there time to self-actualize?
We become shells of the people we were truly meant to be.
Check out this video from Cobie, a central figure in the ever-growing crypto community, reflecting on his relationship with his parents before and after the wealth came.
Generally, our transformations come from our poor choices and mistakes made during our life’s journey.
That is why having is Scrooge McDuck attitude towards your lineage is unforgiveable.
Self-actualization with all options available, is the optimal path. Being in a place where financial burdens are alleviated, helps in this endeavor tremendously.
With self-actualization, transcendence can be reached, which was added on later Maslow graphics. A mindset that serves the greater good of all.
I can’t help but think, this is the area of growth individuals like Bezos and Musk are on, with all the advancement they want to make in space travel and neurology.
We may not achieve that level of transcendence, but we can help many people along the way.
One last thought. . .
When thinking of a time of our lives where we’re freed from the shackles of obligation, I instantly gravitate to when we were children.
As children, when all of our needs were provided for us, were we just lazy bums with no ambitions?
I doubt it.
Speak to children, and you’ll find that many of them are as equally self-motivated to find out who they are and where their potential lies, as most adults.
That’s why setting them up for success should be our top priority.
Weather Your Storm, Maintain Inner Reign -E.