“EXCUSE ME, CAN YOU PLEASE PASS THE ‘WEALTH'?”
We all love that old saying, "there’s more than one way to skin a cat." It’s applied very often, and is applicable in almost any situation. Typically the rule of thumb is to go to school, complete college, and head out into the workforce in search of a job with a reputable company. We’ve seen and followed this path more times than most, without giving alternatives even an ounce of thought. It’s what we’ve been conditioned to believe is the end all be all, but we all sub-consciously know that more ways exist to achieve responsible, financial freedom.
In recent years, the times have begun to change dramatically. With lay-offs and unemployment on the rise, corporate budgets stripped down, and increasing poverty rates, many of us are beginning to catch the entrepreneurial wave. No longer seeing value in clocking in and out and assisting major corporations gross millions of dollars in revenue, hard-workers are reaching that glass ceiling much too soon in their careers.
Now more than ever, the long-term benefits of owning and operating one’s own business is attractive to say the least. The ability to create your own schedule, set and exceed your own goals, and establish your own clientele, all speak to the pluses of being self-employed.
Although entrepreneurship has long since been a male dominated sector, female owned businesses have been grown by leaps and bounds – mother/daughter business operations even more popular as of late. As more and more generations surface, it is important to continue the legacy of entrepreneurship, and more importantly to demonstrate that there is more than one way to achieve career satisfaction. Generational wealth by means of business ownership and entrepreneurship are fulfilling alternatives, and introducing these ideas early on to our youth is beyond important.
You're actually never too young to become an entrepreneur! What better extracurricular activity is there? It teaches initiative, responsibility, drive, and perseverance. Some great ways to pass the wealth to your children and prepare them for their futures are introducing them to business games, encouraging their money-making ideas, and only paying them for EXTRA chores. So, what are you waiting for? The IRS even rewards tax breaks to business owners who hire their children!
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