Why that’s dangerous and what to do about it.
Do you know how much money is in your savings account today? Are you aware of the current interest rate on your mortgage? If not, you are probably financially disempowered and could be in danger of losing it all.
Let me tell you about financial disempowerment. I am the daughter of a billionaire; I was raised in a household of great wealth and luxury. Yet for all of my childhood and much of my adulthood, I was actively discouraged from learning about budgeting or personal finances.
I was always reliant on others to give me the funds I needed and wanted and I wasn’t taught how to understand or use the power of money. Instead, I was raised with the expectation that I would marry someone wealthy and that someone else would continue to take care of my financial needs. Money was not a source of happiness for me – I felt disempowered, devalued and in a regular state of panic.
By the age of 40, I was a newly-divorced mother of two with $2 million in debt and no understanding at all of how financial institutions work.
Money can create greater possibilities for you, but you have to be educated about it; you must be empowered. I learned that the hard way.
My father created immense wealth. He took the money he was given and he invested smartly. Throughout my life, I watched him generate ever-greater wealth and business success to become one of the wealthiest individuals in the USA. My father was a prodigy at making money. He was also a big spender.
I grew up watching my father continuously spend money on himself. He collected rare artifacts and pre-Columbian gold, and he had two huge closets that were outfitted like a fine men’s clothing store. He never refrained from buying something he wanted; he never said “no” to himself.
For many people trying to create greater wealth, a lottery win would be a dream come true. There is a common point of view that if you are given a large sum of money, you will continue to generate wealth forevermore. However, the sad truth is that 70% of lottery winners lose all their money within five years. Instead of using wealth to create more wealth, most people end up squandering their money and creating poverty.
I often say that it doesn’t matter whether you have been raised in prosperity or poverty – with a healthy approach to money, anybody can create wealth. As the lottery statistics show, an abundance of money is not the answer to wealth creation. Instead, I believe, prosperity comes when you have an abundance of...
Ask people what’s stopping them from having financial freedom and many will probably offer a completely logical response. They may tell you about their lack of income, incompetent financial advisors or slow property markets, the rising cost of living, stiff business competition, or stifling government policies.
The only trouble with this is that creating wealth has nothing to do with logic. Think about it; if logic was the answer to our financial well-being, wouldn’t we have created solutions to all our money problems by now?
No, the realm of wealth creation is not logical. In fact, creating the right riches for you can often feel as fantastical as a trip into the Land of Oz...
I often say it doesn’t matter who your parents were or how you were raised; wealth is always possible to create. That is because the ability to prosper has nothing to do with how much money you have but, rather, what your relationship is with the money you have.
Sadly, the vast majority of us have an unhealthy relationship with money. That’s why 70% of lottery winners lose all their money within five years. That’s why I, the daughter of a billionaire, spent most of my early adulthood living in a panic over how I would survive. And it is why millions of people born into poverty can work incredibly hard and never seem to accumulate more wealth.
We are taught to believe that wealth comes from having access to lots of money. But experience has shown me that this is not true. I was raised in a billionaire household and yet lived most of my early adulthood in deep anxiety about my personal finances. At the age of forty, I was a single mother with $2 million of debt and no idea of how financial systems work.
Living a life of prosperity – creating the right riches for you – has nothing to do with how much money you have around you. It is about having a healthy mindset and a willingness to create.
Of course, wealth creation is easiest if you have the right tools, so here are some that I believe are key to financial freedom. Most exciting, every single one of them is within your reach, right now!..
Money – it’s a topic we all have in common. Lack of money, excess of money, hard-earned money, easy money – it’s something that affects everyone. But few people have seen money from as many angles as Curry Glassell. From being born into extraordinary money as the daughter of an oil magnate, she’s had it, lost it, found it again and along the way learned so much about different people’s relationships with the almighty dollar. She’s spent years teaching people how they can change viewpoints that keep them from creating wealth, and also how to be comfortable with money once they get it.
I often say it doesn’t matter who your parents were or how you were raised. The ability to prosper has nothing to do with how much money you have but, rather, what you are willing to create for yourself. So, how about focusing on wealth creation?
Creation is about stepping out of the points of view you have about money (which are normally the beliefs and perspectives you adopted from your parents, friends and communities) and opening yourself up to greater choice and opportunity. To create, you must stop coming to conclusions about who you are, what you are capable of and what you deserve, and start living in the infinite possibility of a question: If I was willing to create abundance for me, what would that look like?
Wealth Creation and Finding Prosperity.