A parent with three sons teaches them that investing means understanding an asset's intrinsic value and what drives its price. Family wealth is a gift to steward carefully, not spend carelessly.
Can I ask you a couple questions?
Uh, wow, I knew that already. Um, oh, that's good advice.
Do you have kids? I do. I have 3 sons. How old? 13, 12, 12. What's the biggest lesson you want to pass down to your kids about wealth? Is investing is a high-value skill. Learn to be a great investor. To be a great investor, you need to understand the value of the asset that you're purchasing and what are the market drivers that are going to increase it in value.
If you were to die today, what do you want your kids to pass on to you know, their kids about wealth building and legacy?
I'd say that the wealth that we've been giving, you need to treat it as a gift. You need to treat it as something precious to steward, not as money to be spent.
