Are Your Parents Rich-Small Town Life
Growing up I lived in a small town, I mean our school had like 6 towns combined and we were still referred to as a bunch of farm kids most of the time. One thing came to my mind the other day when a couple of friends and I happened to stop by in our old hometown to pick up some golf clubs for a chance to see each other and see how everyone was doing. What did we ever do in this town? No wonder we played sports or watched movies, the only businesses were a grocery store and 2 restaurants. It’s was unbelievable to me, I currently live in Chicago so that might have something to do with it, but I was almost taken back, and then I started to think about the people who live here and about who is rich or wealthy in this town and area, it was definitely not my parents despite the title.
So I started thinking how do any of us know how to be wealthy? Do we take what are parents have done and mimic them on the road to wealth? I don’t see any of my friends and old classmates, running a hedge fund or owning a multi-million dollar business, so how do we get there, who teaches us what we need to do to become wealthy?
Let me back track this a little, there are many of my old classmates and friends who have great jobs and professions who make a good or even great salary. I have friends who are doctors, lawyers, nurses, construction workers, bankers, and I know they will do well, but will they be wealthy? Do they have student loans, mortgage debt, are they debt free? What are they doing to become wealthy? What did your parents tell you to do? Did they show you the path?
Growing up I feel like very few friends or classmates had wealthy parents. Some of the professions of people I thought were doing well included: Insurance agent, Judge, Railroad worker, Restaurant owner, Business owner, these are the names that pop in my head that seemed to be doing above average compared to other families in our area. What do I see with almost all of these? They had their own business in some way, these are the people who did well. Yes there are certainly out liars and many people who work at a solid company and appeared to be doing well, but the appearance that shows the strongest is small business, this is the way to wealth, there are other ways, but this sticks out.
My parents have not taught me how to become wealthy, they have taught me many things that I am indebted to them for life, the list would be too long to even mention, but the education of becoming wealthy was not one of them. This is my goal, become wealthy and reach financial independence. I do not own my own business (not as a full-time occupation), strike 1 for me, I am in debt, strike 2 for me, however one topic that I did not cover, real estate, this is start in the right direction for me and feel like this maybe the home run of wealth. I know there is many question and many answers out there, but there is a reason I blog and have started my own eBay business, I am on the road to financial independence and wealth, are you coming along?
I know this may be a sensitive subject for many of us as it relates to our parents, but I think about how we are taught to deal with money, debt, and wealth has shaped many of us to who we are today, whether good or bad. We are ultimately responsible, the person in the mirror, but I would love to hear your story.