Hey Friend,

This morning, one of my friends asked a very good wealth building question. "Knowing that unearned wealth often has destructive qualities, how do we fall in love with the idea creating riches, while avoiding the undesired effect of harming our families?"

Great question!

Another one of my friends, told me that his kids see him doing what it takes to build wealth, and ask him, "Dad, will you later on just give me a million dollars?"

To which he replies, "NO!"

They don't understand this.

I'm sure, you're probably already aware of the sad statistics of what happens to lottery winners,Friend, but here's a quick, slightly shocking, refresher...

1. Percentage of Lottery Winners Going Broke: Studies suggest that about 70% of lottery winners go broke within a few years of winning. This is often attributed to poor financial management, overspending, and the pressures of sudden wealth.

2. Bankruptcy Rates: A study by the National Endowment for Financial Education found that lottery winners are more likely to declare bankruptcy within 3-5 years than the average American.

3. Financial Mismanagement: Many winners lack financial literacy, leading to bad investments, extravagant purchases, and falling victim to scams or financial predators.

4. Lifestyle Inflation: Winners often drastically increase their spending to match their newfound wealth, which becomes unsustainable when taxes, maintenance, and other expenses are factored in.

5. Family and Social Pressures: Many winners face pressure from family and friends for financial support, which can lead to strained relationships and rapid depletion of funds.

6. Emotional Impact: A sudden influx of wealth can lead to anxiety, depression, and difficulty adjusting, which can contribute to poor financial decisions.

So how do we continue to maintain our focus and pursuit of "The Rich Life" while staying in harmony with our desires of good for all, and harm for none.

New Realization: Just because you have money, doesn't mean you have to give it away in unlimited amounts to those who are not ready for it.

I've noticed that wealth has given me the ability to provide for my family and children in ways which are nice, but not damaging.

Example: When my son wanted to buy a truck, he was able to get a loan from mom and dad vs. the bank. This was a way for us to benefit him by helping him avoid the stupid high interest rate, while still giving him the ability to EARN his truck.

Example 2: When you transition from this life to the next, there is no rule that says all your wealth must be freely given to everyone in your family regardless of whether they're ready for it or not.

Not giving some thought to this could be a destructive.

You can easily setup trusts and wills that have stipulations so that the wealth you accumulate over the course of your life ends up going to only the people and the places where the mostly likely good will be done, and the least likely harm.

For a memorable example of this, I recommend watching the movie The Ultimate Gift.

Anyway, the point is, there ARE ways to have LOTS of money while ensuring that the money benefits your loved ones both now and in the future, and it's important to harmonize this fact in your mind so that you have a clear and unrestricted psychological path forward into even more prosperity.

Thanks for reading,Friend, and whatever you do, ALWAYS go for your dreams!

Paul