Now that you’ve discovered the truth about how money works, you’re probably eager to start spreading the word and passing on your knowledge to those you care about. And as you do so, you begin to notice that only a small number of people you know, if any, are capable of receiving and appreciating the financial knowledge you have to share. The majority of others appear to completely disregard your advice. This isn’t anything new. Even though it has been around for over 200 years, many people are still unfamiliar with the concept of infinite banking. They were taught the inverse of this concept from a young age. They were taught that giving money away is the only way to get ahead, and that the only way to get ahead is to save every penny they can and not touch their money until some distant time in the future. Does this sound familiar?
But that’s not all. From a young age, they were taught the wrong way.
What if they were taught the truth from an early age? What difference would that have made in their lives?
We may not be able to go back in time, but hindsight can teach us how to do things differently from now on. So, don’t fall into old habits of thinking that talking about money, like talking about politics or religion, is a social faux pas. It is not something to be kept hidden. It’s intended to be shared. The failure to share this vital information is what has led us to this point, and it is also what has presented us with such a difficult obstacle to overcome.
Get used to sharing, especially with your children. Don’t be an oversharer. Allow them to be witnesses to everything you do in your financial life. Be a mentor and a teacher to them. Take the initiative to explain what you’re doing and why you’re doing it.
Everyone wants their children to succeed. And we’re all aware of the financial legacy we’ll leave behind when our life insurance policies pay out our death benefit to those we care about after we’re gone. But what about the legacy we will leave them on how to spend their money wisely? What about the truths that only you will be able to teach them about how money works? That is the most important aspect of the “legacy” we are discussing.
Without application, education is meaningless. They will adopt your lifestyle if they see you in action and see your money working for you rather than the other way around. Except that they will have many more years to allow their money to compound and grow, and they will not have a mindset based on a lack of and false information.
Treat every financial opportunity and challenge you face – whether it’s paying off debt, purchasing a car, investing in real estate, or taking a vacation – as a new lesson for them to learn and solidify a better understanding of money. It will eventually become second nature to them, and they will look back on their time with you with appreciation and gratitude.
It is never too early for them to learn a valuable lesson. Meet them where they are and learn as you go. You won’t know everything along the way, but neither will they, and you’ll be able to teach them a valuable lesson in selecting the right resource to rely on to get them through it.
It’s straightforward. Simply share what you wished you had known as a child. Give them that present. It will never run out of things to give.
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