Category: Wealth Building Wisdom
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Why Families Lose Wealth (Part 5): The Inability to Trust the Next Generation With the Business
This is part five in a series on why family wealth rarely lasts beyond three generations, and how to prevent that. In this post, we’ll look at one of the most emotionally complicated causes: the inability to trust the next generation with the family business or the wealth—for any number of reasons. This issue is Read more
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Why Rags to Riches to Rags in 3 Generations, Part 4: No Mission—or a Bad Mission—for the Family
This is the fourth post in a series about why families with wealth so often go from rags to riches to rags in 3 generations. And one of the biggest reasons is simple: there is either no mission for the family, or the mission that exists is the wrong one. We accept that CEOs and Read more
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Proverbs 28:20 and the Wisdom of Getting Rich Slowly
Proverbs 28:20 teaches a kind of wisdom our culture has nearly forgotten, especially when it comes to getting rich slowly. The verse reads: “A faithful person will be richly blessed, but one eager to get rich will not go unpunished.” It’s a simple contrast, yet it reaches into the heart of how we work, build, Read more
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Love of Money and Unnecessary Pain (1 Tim 6:10-11)
This is one post of many from the wealth-building wisdom posts. You can read more here. 10 For the love of money is a root of all kinds of evils. It is through this craving that some have wandered away from the faith and pierced themselves with many pangs. 11 But as for you, O Read more
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Why Rags to Rags in 3 Generations (Part 3): Lack of Succession Plan
It’s a tragic and familiar story: rags to riches to rags in three generations. Shirtsleeves to shirtsleeves. This is part three in a series that explains why wealth and success often fade across generations. If you haven’t read parts one or two yet, you can find them here and here. In addition to the first-generation Read more
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Why Rags to Rags in 3 Generations? Reason 2 – First Generation Wealth Creators
In a previous post we discussed the first reason family wealth rarely outlives the third generation. That was about the emotional association the younger generation has with the founding family member and with the business itself. In this post, we’ll discuss a second reason. First-Generation Wealth Creators (or Lack Thereof) All of these statements have Read more
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Proverbs 14:30 – Peace or Envy
Proverbs 14:30 – A heart at peace gives life to the body, but envy rots the bones. Every person has to decide for him or herself what is enough. Be. Do. Have. All of these have a point where we may want more but we choose to say, ‘it is enough’, or we remain takers Read more
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Why Rags to Rags in 3 Generations: Reason 1 – Emotional Baggage
In this series of posts, I’ll talk about why ‘rags to rags in 3 generations’ is so common that multiple cultures have a version of this phrase. This first entry in the series covers our first of many reasons: the emotional association with business and money. The Rags (to Riches) to Rags Explained A poor Read more
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Wealth-Building Wisdom – Proverbs 11:22 Explained
Proverbs 11:22;“Like a gold ring in a pig’s snout is a beautiful woman who shows no discretion” We all have insecurities. Sometimes we mask those insecurities with different things that we think tell a story about who we want to be. The proverb above is not limited to women; men are called out for this Read more
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Deuteronomy 8:18 – God Gives You Power to Get Wealth
Deuteronomy 8:18 – God gives you the power to get wealth The legendary evangelist George Mueller once said in a book he wrote, “Let no one profess to trust in God, and yet lay up for future wants, otherwise the Lord will first send him to the hoard he has amassed, before He can answer Read more