#8. [Yellowstone] Generational Wealth is in the Blood
Spend Money. Earn Time
No Time. No Business. No Wealth.
Generational Wealth Is Always a War
I am trying to do something weird with this piece. I have 2 deep thoughts that heavily intersect and I would like to share them under one umbrella. Hopefully, it sticks.
I watched the Yellowstone TV series this year and I must say it is my favourite TV series of the year. I learned a lot from the series.
Lesson 1:
Nothing is ever given to you for free. You can only take it. Now, the strategy to take it is where the problem resides. In my opinion, it is always best to go for a win-win situation.
Lesson 2:
So long as it is yours, you will always fight to keep it as yours tomorrow till eternity. There will always be a force willing to take what you have and you must become stronger to protect what’s yours.
Now, let me switch, from watching the series it becomes very clear that for you to pass down something of value from one generation to the next it can only be land and you must bleed on that land. Hence the title of this blog post.
Secondly, you can pass down a business but you must endeavor to make sure that the business could survive for years without you. Hence you must endeavor that your time is not required for the daily operations of the business.
Achieving this takes time and I would not advise a young person to heavily focus on this but it should always be at the back of your mind.
If you are working on a job, you are bleeding but the difference is you are not bleeding on what’s yours. You are bleeding for someone else’s in exchange for his or her time.
Which is why I say generational wealth is in the blood. I discovered this by watching my very own father. My father recognized this concept and refused to take on a job for as early as I could remember reciting ABC.
In the end, most (if not all) of his businesses failed but I learned so much from him and how he ran his businesses, what I am to do, and what I am not to do. I learned business talk, how to manage employees, and how to think as a business person. I believe you learn more from a failed business than a successful one.
As far as I am concerned, my father passed generational wealth down to me, he gave me one of the most precious commodities which is KNOWLEDGE. I do not mean bookish knowledge but the knowledge of business thought and action. Hence, Generational Wealth is in the blood.
I am not saying getting a JOB is wrong! I do have a Job but you should always know it would be harder on you to pass down generation wealth when you trade your time for money and bleed in the stead of the corporation. Hence, No Time, No Business, No Wealth.
Lesson 3:
When I heard John Dutton say, “There is one thing a man with all the money in the world would only buy, which is LAND.” It sparked a lot of flames in my head for this is true for him because this is what his family has bled for and the sacrifice of his great-grandfathers cannot just be pushed aside.
Now, I am not saying everyone should go out there and start buying land. All I am saying is to recognize what your fore-parents have bled for and cherish it as much as you can, improve it, make it work, and pass it down to the next generation of your bloodline.
That is true, generational wealth. In my father’s case, it was KNOWLEDGE. I think he knew whether his businesses failed or succeeded, I would learn something which is why he always carried me along so well. Yes, the business failed before he passed away but my God, I learned so much from a very young age that it has opened my eyes to so much.
Just to give you an example, I remember when my father introduced me to inflation, I was very young (about 15 years old) and it has always stuck with me. Today, I am always one step ahead of inflation. That is TRUE generational wealth.
I hope I shared my message in a way that is understood, you might need to re-read this a couple of times though. This is how I feel like presenting my thoughts on the subject matter I want to share today. I sincerely hope it sparks something in you.
Cheers!
