My Kids Are Getting Nothing

My kids will be getting nothing. Um, I'm currently having my will redone, so thinking about what my kids will receive in their inheritance is on my mind significantly right now, and my kids will be getting nothing. Um, now let me explain this. First off, I think I've made two major mistakes with my kids. In fact, let me ask you this: will you be handing over your inheritance to your children? You know, the wealth that you may build or the security that you've built, will you be giving that to your children? Yes or no, and why. Here are the two mistakes I believe I've made with my children. One of them isn't my fault, one of them is. The first major mistake I've made with my kids is being a 45-year-old relatively privileged white male in a developed first world country who has become wealthy and what some people might deem as successful. And the, the weird paradox of this is that that's given them the life that I absolutely always dreamed and wanted to give my children. And I think that's my first mistake, um, because any privilege, any privilege my children have is all my fault and not theirs. So if at times my kids become too privileged and too entitled and spoiled That is not their fault. They are children. That is my fault. Now, Bill Gates said, if you're born poor, it's not your fault. If you die poor, it's your fault. My kids didn't ask to be born, and everything that makes them spoiled or entitled or childish— they are children. That is what they are. That is, that is what they will default to be. The marshmallow test. They'll eat the marshmallows, they can't wait. And so everything around that is my fault. But the hard thing is that that comes from love. I want my kids to live in a nice house, I want my kids to live in a nice area, I want my kids to go to a nice school. I don't want my kids to have the struggle that I did. I want my kids to have all the opportunities, I want my kids to be given instruments if they want to play music and golf clubs if they want to play golf. I want my kids to be able to travel and see the most amazing places in the world. I have 7 cars. My son doesn't even want to be picked up in the cars. It embarrasses him. My daughter's like, "Oh, I don't like this Aston Martin." And I'm like, "Oh, what have I created?" And it's not their fault, it's mine. So here are some things that I've decided to do. Now, by the way, I am not saying I'm right. I'm saying this is what I'm going to do. I want to know your opinion. Should your kids get all your inheritance? Is it a mistake if you raise them with privilege and protect them from the pain that you felt? Or is it not even your fault? Or, or if they are raised to be privileged, is that even an issue? Okay, so, um, the second mistake I made is that I, I did not challenge my children enough. But they're 9 and 13, and this can still be done. So, you know, my wife, she loves the children, and, um, she does challenge them, but she more supports them. I love my children, and I now know, as the, you know, the, the male father figure, my job as a father. Yes, I should support them, but I should more challenge them. Yes, they need love, Rosanna, I agree, but love can come in the form of allowing them to make valuable mistakes, mistakes that give them valuable lessons, allowing them to fix their own problems rather than fixing them themselves. You know, many times— no, a couple of times I've wanted to go down the school and jump up and down to the headmaster But I realize that will just make them dependent and juvenile. And while they'll love it in the moment, or they might not, they might be embarrassed. But, um, so here's the lesson I've learned of children of 9 and 13. And I'm not preaching, and I'm not telling you I'm a parent guru. I am flawed, and I've made mistakes, and this is actually what this content is about. But, um, if you're able to give them a great upbringing, which is surely one of them, the greatest showings of love and privilege that you can give your children, your challenge will be challenging them. Your challenge will be their privilege. Your challenge will be giving them hard things to do, um, and that will not be easy. And some of you will find that very hard to do because you want to give them too much love and support. Now, that being said, my daughter stood in front of nearly 200 people and did a speech She sold £300 worth of bracelets in like 7 or 8 minutes, and she's been on a lot of my content, and I, I've been challenging her to do these things, and it's really helping her grow. We took the PlayStation off my son so he could do his revision, and he's hated it, but we created that monster— not a monster, but you know what I mean, that beast. And, um, and I believe these challenges they're now going through are creating strong, independent— strength and independence in my children. And, and I should have done that more, and I didn't, because I wanted them to have a great life and all the opportunity I didn't have. So I made my mistakes from the right place of love, but they were mistakes I deemed. And I actually am seeing more growth in them now, more independence, and So mistake number 1 is I was born into— I wasn't born into privilege. I actually didn't get given any money. I became a multi-millionaire through my own decisions and hard work. But just me being white male and where I was born, that was privilege. And the way I was raised, I was put through private school, and that was privilege. If you have some privilege, be grateful, and be careful not to just bestow it upon your kids for love when you're overly protecting them and shielding them from the hardship. You know, if your children are having a bit of problems at school with a teacher or a bully where it's not really threatening, let them fix it. Teach them, guide them, but let them fix it. This is really powerful. And now I don't intervene so much with my children. I let them fix their own problems, but I will be removing some privilege and they're not going to like it. And I think it's really important. Okay. Right, so we're in the process of redoing our will, and I will not be leaving all my money to my children. No, I will not. One of the biggest curses you could give your children is to leave them a load of money without the education and knowledge on how to do it, what to— where to invest it, how to manage it. Like, one of the greatest gifts of being rich isn't the money, it's what you learn. One of the greatest gifts of building a company It's the team that you build and the challenges you go through and the resilience you build and the ability to solve problems and the creativity that it develops and the, at times, the loneliness that you have to get through. And these are the greatest things about being a millionaire and building a company or being an entrepreneur. That you don't— they're the lessons that come with the money that are more valuable than the money. So if I just dump my kids millions of pounds when I die, because I love them, I'm actually cursing them unless I can give them the lessons first. So I will not be giving my children all my money when I die, and I will be telling them this. Um, I will be committing to teach them while they're alive so that they can learn how to make their own money, and I'll be giving them the gifts of what I've learned, not what I've earned. And I'm, you know, we're going through our will again and we're deciding this. That being said, I'm obviously gonna die with a lot of money, and I'm going to stage— because you can pretty much put anything in a will— and so, um, I might stage layering out, passing some money across. I might match some money that they earn, um, so, you know, if they want a house They put X down and they will get the same money matched through the inheritance. Or maybe it'll be layered of something they'll get when they're 25 and 35 and 45. And maybe I'm going to teach them to be able to become a valuable shareholder within the business rather than just get these— this ridiculous curse of loads of money, which naturally I instinct— no, I emotionally just want to give them all my money because that is my love and that is the fruits of my labor and that is my legacy. And I'd love them to then take I can take that money and build my empires even further and live a greater legacy. But the money won't do it. It's the education, the inspiration, the value, seeing me do it. So, controversial opinion maybe, but my kids won't be getting all my money. They'll be getting some of it in stages, and they'll have— it will match what they do, uh, and it will be reward and incentive-based. And the greatest gift I can give them is to remove some of the privilege um, and teach them to be independent, um, and teach them— like, right now in society, we're missing the value of hard work that we used to have. There's more entitlement, there's more laziness, um, there's more apathy, there's more disdain. And I want to teach my children that the universe is a giver and anything you want, you can get. And if you just learn my formula for wealth, and if you just give as much as you can and learn as much as you can and find a way to be valuable and don't give up, then you can have everything you want. And by the way, you can have a load of money and get nothing that you want because you don't know these key life skills. I want to live my life so they see it, but I also want to teach it to them. And I, you know, I do know people who've inherited a lot of money. It's a massive curse. You do know these people, don't you, who win the lottery? And it's a massive curse. Most people who win the lottery are even worse positioned 2 years later, a lot of people have said the biggest curse was winning the lottery. And really, one of the prereqs— here's— if I, if I ran the lottery, which I wouldn't because I don't believe in the lottery as a— I believe in educating rather than the lottery. I think it's a terrible thing. But if I were running the lottery, I would, number 1, um, before they got any of the money, they'd have to go through hardcore training and apprenticing and protégéing and learning from people who managed money. And then number 2, they would get drip-fed it in stages over the rest of their life. They wouldn't get it all in one go. That's how I would manage lottery wins. Anyway, the biggest lottery win is education. You know, the more you learn, the more you earn. And if you can teach yourself to be wealthy and all the skills required to be wealthy, then you'll always be wealthy, even if you lose money, even if there's a turn in the economy. It is the greatest gift, and this is the gift that I'll be giving to my kids. And if you would like to have yourself receive the greatest gift of education around money, to make, manage, and multiply money, then I recommend you join Rob.team. Now, I'll be teaching my kids their foundational education within Rob.team. It'll essentially be my commitment to their part homeschooling. All kids go free, by the way, in Rob.team. But if you'd like to learn how to start and scale a business, make, manage, and multiply more money, build multiple streams of recurring income, get your tax bill down and your income streams up, and you'd like to access hundreds of courses, resources, and masterclasses, and less than 20 pence a day, and you can cancel anytime, just go and join rob.team. Now I've shared the link, but you need to actually type it in and you need to do it now. So literally just go right now and open up a new webpage and type in rob.team. Rob.team, just type it in. Less than 20 pence a day, cancel anytime, no ongoing contract, hundreds of hours of courses, resources, and masterclasses waiting for you. Start and scale a business, make, manage, and multiply money, build multiple streams of recurring income, passive income, get your income earning capacity up, get your tax bill down. And launching very soon, there's going to be a homeschooling financial freedom for kids, um, what would you call it? Not modules because it's going to be on an ongoing basis, but everything I'm going to teach my kids about business and money were I homeschooling them I'm going to teach in Rob.team, and you can— your kids can have your membership and essentially get free membership just logging into your membership. That's the gift that I am giving. Um, so I, I was considering homeschooling my kids. There were reasons why we decided to send them to a private school, which is great for them but also creates challenges of privilege. Um, but I will be forcing— encouraging that my kids learn my homeschooling money series, probably daily bite-sized modules for what they should teach in school but don't, and what my kids will need to know about money so that when I pass away they don't need my money. They've got everything that they need, which is resources but resourcefulness. The more you learn, the more you earn. Faisal has said that their 12-year-old is reading my book Money Matrix in his English lessons. I absolutely love this. I need to screenshot that. Um, all right, so go and join rob.team. Let me know what your thoughts are on my inheritance plan with my children. And remember, if you don't risk anything, you risk everything. And by the way, it's no risk to join rob.team because essentially you get membership for 20 pence a day. You can cancel anytime. There's no ongoing contract. But as your kids go free, it's essentially less than 10 pence a day. And this is, by the way, one of the ways to give back, you know. My friend Simon Squibb says millionaires should give all their information away for free. I don't agree with that actually, because people do not value what's free. Free advice is worth every penny, but when you pay, you pay attention. However, this is almost free. It's like the tiniest amount of money, less than 2 cups of coffee a month. So it's essentially the same thing. So I essentially am giving away my information for free, because I believe it's one of the responsibilities of people who've been wealthy and successful I also, I think we really need to help the next generation. Because it's not their fault that the society that we're in right now is a bit doomed. They're just, they're born into privilege, which is a curse to them, but they're also born into this, the state of the UK right now is broken. The education system is broken. The NHS, the police, the government, the political system is broken. The banking system is broken. So we must teach ourselves and then teach our next generation this. It's vital for, I think, the, you know, the evolution and the security and the, and the financial freedom of, of you and your children and society. And so I'm doing my bit. Are you going to invest yourself though and join Rob.team? By the way, let me know in the comments if you're in there. Faisal has said it's a great resource and it's worth much more than the subscription. I appreciate that. Just type in Rob.team. Rob.team is the only system that isn't failing. It's independent, it's free, you have choice. And, um, every single week, twice a week, we upload new content on making, managing, and multiplying more money and being financially independent. Thanks for tuning in, and remember, if you don't risk anything, you risk everything.