Why Most Families Stay Broke and How to Break the Cycle
Manage episode 485416496 series 3401707
In this episode, your hosts Jason and Scott discuss:
● Breaking generational financial cycles
● Creating personal banking systems
● Importance of financial education
● Leveraging other people's resources
● Training heirs, not just accountants
Key Takeaways:
● Wealthy families don't just accumulate wealth; they create systems that perpetuate financial growth across generations.
● Traditional education fails to teach real financial principles, and breaking free from the industrial-era mindset of job dependency requires intentional learning and strategic thinking.
● Controlling your financial ecosystem matters more than simply earning money.
● Leverage isn't just about money, but also involves utilizing other people's time, knowledge, and resources, and successful families train their heirs to think strategically about wealth creation, not just accounting.
● Reading key financial books, having open family discussions about money, and developing a long-term wealth strategy are critical steps in breaking generational financial cycles.
"The business of banking is nothing more than buying money at wholesale and selling at retail” — Jason Henderson
Connect with Jason and Scott:
Website: https://henderxcapital.com/masteryourmillions
X (Twitter): @MasterYourMs https://twitter.com/MasterYourMs
Facebook: https://www.facebook.com/groups/realestateinvestorsofutah
Instagram: @henderxcapital https://www.instagram.com/henderxcapital/
@jasonihenderson https://www.instagram.com/jason.henderson/
Email: [email protected], [email protected]
139 episodes