We all saw the news yesterday about Nipsey’s family rejecting crowdfunding because they were already taken care of. This was amazing to see. So often people pass and we see the GoFundMe’s pop up and the carwashes pop up and this is disgusting to see. Yes, I said disgusting.
I believe that we have to say the hard things and not just the things people want to hear and that is the purpose of this blog. Your family should not have to go through the embarrassment of a GoFundMe just because you were unwilling to spend the $20-$50 required for a term life insurance policy. GoFundMe funerals to me just are a public showing that you failed.
The next thing that I picked out of the Nipsey rejection was that he was an owner. By owning his masters, owning his store and owning real estate Nipsey didn’t leave his kids money he left his kids cashflow. This is the major key here. So many of us are chasing money money money and not enough are chasing equity, ownership, even if its just a percentage and not the whole pie. Ownership is forever and cash is for the moment. ownership outlives you, when done right.
The last thing that I pulled out of the Nipsey interview was that his kids are set for life. At first we look at this and say “OK” but this is important. It is important because it your parents job to set you up for life not to set you up to turn 18.
I see so many young people turning 18, thinking they are grown and proceeding to ruin their finances and their life. They go into debt, get credit cards and student loans, finances cars at 24.99% interest, go to jail or have kids with the wrong people. All because someone told them they were grown at 18.
It’s like parents act like parenting is a ticking time bomb and they can’t wait to get rid of the burden that they created. A lot of these were unplanned children so that plays a part. A lot of these were children with people that parents don’t care for but that is your fault, not the kids fault. Using 18 as a deadline is a cop out, any parent who does it is not worthy of honor and should be pointed out and shamed! Yes, I said it.
We have discussed this on the show and on the blog but most people’s brains don’t even fully form until late in their 20’s. I know that I can relate to this. The wisdom I have at 32 is nothing compared to the wisdom at 25 or anything sub thirty. Something clicks at this age – most people don’t make it to this age.
A lot of the reason why we live by this 18 year old rule is because that is what the government told us. Well, its time to stop letting the government dictate what we do and start letting what works dictate what we do. One of my problems with conventional wisdom is that the results don’t look like success. We stand by diets that fail us, relationship standards and expectations the fail us, parenting strategies that fail us and financial strategies that fail us. It makes no sense. If the strategy worked the results would mirror success not continued failure. My challenge for you is to study what works and then do those things don’t just do what you have been told to do.
Study financially successful cultures and mimic their moves. Study academically successful cultures and mirror their moves. Study successful and happy families and marriages and mirror those moves. This is what reading and exposure does for you. It did it for me and it did it for Nip. When you are exposed to new things you can then implement those strategies and you look up with wealth that lasts beyond your years just like the people you were studying.
Nobody is against you they are merely for their own. America is so great that it doesn’t matter what you look like you can have what you want if you just do the right things. I truly believe that and I have seen that. don’t buy into the idea that you have no shot and you have lost before you have won because too many people who look like you and who have come from where you have come from have proven that theory wrong. The only thing holding you back are the thoughts that someone put inside your head.
I encourage you to abandon that old way of thinking and reshape your mind. Read great books, listen to great podcasts and seek out people who look like you who have done what you want to do, they exist. And then obsess over that. Block out anyone who wants to tell you what isn’t possible for you. They are speaking on their limitations not yours.
The point of this blog is that a lot of our methods are wrong and if we keep doing those wrong things we will keep getting poor results. It is comfortable to do what you know but it doesn’t yield success. Instead of just going along I encourage you to seek out new ways and mimic those ways. If what we were doing was working we wouldn’t be having this conversation.
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