Why you must make your child rich Chapter 4

Chapter 4 - They can only manage your wealth

Let's look at all the factors so far. Firstly, your kid growing u process is one of a comfortable life and educated to be in top management. He gets almost what he wants when you allow it and probably got used to it even before he graduates. His mentality, thanks to your upbringing, is something must be worth his while for him to do it, if not, why waste the time?

Secondly, he has every reason not to take up a underpaid job because we all knows as the world turns into a global village, the boss have all the bargaining power in wages. What's the point of working your ass off for somebody esle's big houses, big cars and big fake boobs model galfrens?

Thirdly, for your child to strike out on his own to be in the exploiting position rather than the exploited, it has to be early. We know the rich will always get richer and the poor will get poorer. So if you already have enough money for your child to start a business even before he gradutes, it's a whole lot of unneccsary work he can skip to start becoming richer, and not becoming poorer as the day goes by.

So what's my suggestion? Our children's career can only be worthwhile if we have a wealth for him to manage.

The only reason why your child would even have to go work for people is to see how the bosses work and learn from it. after 1-2 years, he can either take over your business if you have one, OR start one on his own.

"WHY NOT JUST LET ME STRIKE OUT ON HIS OWN AND EARN HIS OWN WAY?"

many people of the older generations thought if they can do it 30 years ago, their kids should be able to do so. however, as more economies get saturated, as capitalism is reaching its glorious days in this world, it will get to someday where there is no middle class, only the rich and the poor. Even if there is any middle class, there are just middle class who may move to the ranks of the rich, or middle class who gets pooorer and poorer and eventually get caught up by devaluation of his real income.

There is something good about letting your child manage your wealth. First of all, because he is working for his own money, his own big cars, big houses, he will be more committed, be it managing your business or starting his own. He will learn more.

Secondly, working as a boss rather than a employee makes you learn how to be a more successful boss at a younger age. of coz, people like michael dell, bill gates and steve jobs can be exceptions, but look at how many successful CEO's of the world comes from a rich family? we have every reason to believe that their career as a boss starts from young. they LEARN NOT TO TAKE ORDERS, BUT GIVE ORDERS. THEY LEARN NOT TO OBEY RULES, BUT BREAK AND MAKE NEW ONES. THEY LEARN NOT TO BE EXPLOITED, BUT BEING EXPLOITIVE. and in a very unlikely case that they fail, they are still young! and being able to fail as a boss is some learning experience better than being sack by a boss. yes, both lost a job, but the failed boss learn how to be a better boss now, and the sacked employee learn how to make his boss happy next time.

"Why do you say it's unlikely that these kids can fail in a business?"

First of all, doing business is really hard sometimes, but being a boss is much much easier. If the wealth you left for your kid is large enough, any moron, even those that failed his secondary school days, will just hire a few capable men to run his company. all he have to do is tie their bonuses to the profits of the company and they will probably work their ass off to make the company rich. If you dunno what I am talking about, try to meet those people that any CEO's have to report to. If the CEO is not the major shareholder himself, he probably have a "real boss" to answer to. most of the time, the board of directors, often relatives or brothers and sisters or cousins.

at this age we are in, there are still relatively easy way to make our "first pot of gold" by working really hard. the "first pot of gold" will give us a chance to become the rich and eventually get richer and richer by being a exploitive boss. There are still economies that are still young and unsaturated with tons of oppotunities. eg. china, middle east etc.

however, when the whole world is saturated, that is when those with the money talks and stay rich. and the poor and middle class would have no more oppotunieties to get his first pot of gold. He may be living slightly better off among the poor but never ever possible to escape from being exploited. He just can't seem to save, no matter how hard he try. as everything he uses in his daily life, food, transport, toiletries, clothing etc etc are made by big companies with a mindset of "profit maximizing and costs minimizing", things get more and more expensive, wages get less and less. no way he can save.

So now, while you STILL can, save enough money for your child to manage when they grow up. unless the poor starts a revolution, unless we stop the allowing the gap of the rich and poor widens (which is impossible), unless the world's economies never get satuarated (the rich will ensure all sectors are being exploited and saturated), your child will live a life of only work and sleep, not leisure in the future.

think about it, start saving now.