My family created generational wealth for three generations owning a family business. My great grandparents, grandparents, and parents all benefitted. It didn’t go further and I was never aware of this generational wealth until I was older and could put the pieces together. It became really apparent to me that my grandparents really never worked past age 50 but had Cadillacs, house with a 3-car garage when no one had one garage and traveled.
The first 2 generations were entrepreneurs and everyone had a role in the business. My parents are not entrepreneurs but inherited money after the business was sold. It was set up in such a way that when they retired they could live well.
My cousins, siblings, and myself did not grow up with generational wealth and so started a history of emotional lack for many of us. Our parents’ generation showed us that it looked easy to own nice homes, and cars and not worry about retirement.
What wasn’t conveyed is most people work hard for that. Even though my parents knew they would be OK down the road, they were always telling us they were poor – there was no money for college, cars, etc.
Compared to their parents and grandparents, they were poor. They compared themselves to the entrepreneurial generations and emotionally took on lack and survival. My parents passed on lack and survival to us. And it was emotionally loaded with the daily fighting about money which was a major theme in our loud family.
My point is to illustrate how emotions can rule a whole generation about lack and survival. Even though my parents bought their homes for cash because my grandparents gave them large sums of money for each Christmas, they still felt poor.
They were well educated and had incomes as a teacher and engineer. Yet they still fought nearly every day about money. Still to this day, my 92-year-old mother is always telling us how she has no money. Yet, she owns 2 homes, doesn’t need to sell them, and has help aging in her own home. She still carries that sense of lack and survival even though she is living how she wants. She carries the emotions of lack and survival even in the face of how she truly has lived all these years.
That’s how strong her emotions are.
If you have tried everything to create wealth from your business and it hasn’t worked, you need to look at the emotions you’re carrying from your environment.
Connect with me if you would like to discuss how you’re not creating wealth from your business.