Now that you’ve discovered the truth about how money actually works, you’re probably eager to share your findings with others. As you progress, you notice that only a small percentage, if any, of the people you know are capable of receiving and appreciating the knowledge you have to share about money. The majority of others appear to completely disregard your advice. This is not a novel concept. Even though it has existed for over 200 years, many people are unfamiliar with the concept of infinite banking. They were taught the polar opposite of this concept from an early age. They were taught to give money away and that the only way to succeed is to save every penny possible and not touch it until some distant time in the future. Does this sound familiar?
However, that is all.
From an early age, they were taught the incorrect way. What if they were educated in the truth from an early age? What difference would that have made in their lives?
While we may not be able to travel back in time, hindsight can teach us how to do things differently in the future. Therefore, avoid falling into old habits of believing that discussing money is a social faux pas comparable to politics or religion. It is not something to conceal. It is intended to be shared. Not sharing this vital information is what got us here and what creates such a difficult obstacle for us to overcome now.
Develop an attitude of sharing, particularly with your children.
Be an excessive sharer. Allow them to observe everything you do in your financial life. Serve as a mentor and a teacher to them. Make an extra effort to explain what you’re doing and why.
Every parent desires for their children to succeed. And we are all aware of the financial heirlooms we will leave behind when we pass away. However, what about the legacy of knowledge? What knowledge will we impart to them regarding how to manage their money more prudently? What about the truths about how money actually works that no one else can teach them? That is the most critical aspect of the “legacy” we are discussing.
Without application, education is meaningless.
They will emulate your lifestyle if they see you in action. Except they will have many more years ahead of them to compound and grow their money. And they will be free of a mindset founded on ignorance and misinformation.
Consider each financial opportunity and challenge you face – paying off debt, purchasing a car, investing in real estate, or taking a vacation – as a new lesson to teach them and a chance to solidify their understanding of money. It will eventually become second nature to them, and they will look back on their time with you with gratitude and appreciation for what you were willing and able to teach them.
They are never too young to acquire valuable knowledge. Meet them where they are and continue to grow. You will not know everything along the way, but neither will they, and you will be able to teach them an important lesson about relying on the right resource to get through it.
It’s straightforward. Simply share what you wished you knew as a child. Provide them with that gift. It will never cease to give.