By Vern Gowdie – Gowdie Family Wealth (Australia) –
‘When you take things for granted, the things you are granted get taken.’
This clever and very perceptive play on words partly explains why generational wealth is so difficult to achieve. Money gets taken for granted and is, in turn, taken away.
Not appreciating the value of money — by way of an ‘easy come, easy go’ attitude — undermines the hard work and sacrifice of the wealth creator.
We have to work hard to ensure the next generation does not take its comfortable lifestyle for granted.
In my opinion, we are headed into a period of significant economic upheaval…one that could rival the Great Depression in the context of social and financial upheaval. That’s not meant to be alarmist, but rather to prepare you for some challenging and difficult times ahead.
Taking economic prosperity for granted is a massive gamble. Our ‘prosperity’ is a by-product of a system that’s been designed to reward consumption (using massive amounts of debt) over production. Policymakers have built a flawed economic model.
Unless, by some miracle, history decides not to repeat or rhyme itself, the largest debt bubble in history is destined to end like all those that went before it…badly; very badly.