If you grew up dirt poor, but now umekafunga, but you suffer from poverty mentality you can subject your kids to the same. You always think that any coin you waste will take you back to being poor. You become stingy and make sure that your kids suffer like you did so that they can understand how being poor is ndio wamee akili
But they don’t, because they cannot be in your situation.
Rich mentality OTOH is whereby even if you grew up dirt poor and umekafunga, you encourage your kids and show them it’s possible to make it, give them the best in life and assure them that their future is rich.
Are we being subjected to poverty mentality??
Ati fasting Wednesday? My ass.
Mimi naona life is just a gamble, especially when it comes to kids. I’ve seen pampered kids who end up being dependents for all or most of their adult life. Heck, I was pampered and shielded from real life, and that cost me a lot of time trying to “figure things out.”
I’ve also seen a lot of my “washamba” cousins and friends climb the business ladder further than I ever will. So I think the trick is finding a balance between pampering your kids and teaching them valuable life lessons.
Here’s my plan:
Building asset(s) that will create generational wealth - on and offline
Give my kids decent education and healthcare
Introduce them to businesses as soon as they step out of high school
Help them build a business to its feet
Retire and have them manage the entire empire while I’m still alive
Die peacefully
Of course, things don’t always go according to plan, but I intend to stay as close as possible to the plan.
Teaching your kids how to be frugal is not poverty mentality. That’s how you get rich and stay rich in the first place because you understand and value money. You learn how to prioritize needs, and how to stretch a shilling.
However, I agree with you on the “making kids suffer like you did” part. That is poverty mentality because your kids wont grow up in the 70s/80s/90s or early 00s like we did. I think if you are successful, you should teach your kids how to be successful in what you do in a quarter of the time you took. You learned from experience and took longer so they wont have to. They will be better off and still get new experience that suits their time.
I studied how these families stay wealthy and noted that children are taught at a very young age how to run the family business. For example, Frank and Lorenzo Fertitta (former UFC owners turned billionaires) spent their school holidays walking their father’s casinos and hotels. By the time he retired, they understood every square inch of that business.
What we miss being taught is money management .
White man and Asian know it better their business can run for decades lasting generations but bonobos the businesses dies with the founder
Not money management but the need for business succession. Huku jamaa akona biashara hataki kufunza watoto vile inafanywa, ile siku anadedi none of his kids have an idea how the business runs. Hapo sasa ndo unaskia kila mtu anapigania mali. They embezzle all the funds next you hear the business is closing shop because their is no money to pay workers and staff, no money to pay expenses like electricity, water etc, no money to pay suppliers.
Nice point. Me niligrow ocha. Zile enzi za kutembea miguu kavu kwenda chuo. Nilikuwa nabeba sanduku ya vitabu…if you can relate. So i have been working soo hard in my life ndio watoto wangu watatu wasipitie life nilipitia. On the other side sitawapatia kila kitu ndio wasimee pembe. I work with reward system. Be a good child pata what you like. Kuwa mrui then i take away what you like most. Ni ku balance tu. But ma old schools huwa hivo. Wazazi wamekafunga lakini mnakaa kama wasee wamesota.
Most African businesses die with the death of the owner. We dont involve our kids into our businesses so tukigenya kila kitu inasimama. Indians unapata kila mtu kwa family anasaidia kwa shop. Unapata hiyo shop has been running for many generations. Me i will try to involve my kids. Hata nikiunda gari service huwa naita kivese yangu akae karibu na mimi as i work on the car. With time jamaa atajua kufanya small mechanical jobs za ndae
:D:D:D:D:D… Parents listen and listen carefully,the rich teach there kids to be PRODUCERS of good s and service s ,to be PRODUCERS of what the masses consume, peasants don’t teach anything their kids anything ,they leave their kids to market forces, marketing gimmicks and PR ,the kids just consume what they don’t produce.