One of the easiest ways to be rich is to have rich parents. However, many a trust-fund kid has blown their fortune because they never learned how to appreciate money or how to make their money work for them. Savvy self-made millionaires who are also good parents know that the best thing they can do for their children – other than leave them a generous inheritance – is to teach them the skills they’ll need to become financially independent.
Of course, capitalism doesn’t offer an equal opportunity system and some folx have more social and professional barriers than others – but our curiosity persists. So, what are the secrets self-made millionaires teach their kids and could you teach these lessons to your kids too? Here are 20 from millionaire author Steve Siebold.
You deserve to be rich
Watch the markets
Getting rich takes work
Make friends with rich people
Play rich people’s sports
Related: Check out the world’s richest golfers.
Learn how to think
Write vision letters
Expect to be rich
The world doesn’t owe you
Learn that the best things come over time
Money brings freedom
Be careful about spending money
Learn how to solve problems
Manage your own money
Decide how much is enough
Reach for the stars
It doesn’t take a genius
Wondering where to start? A good place would be with one of these 19 Canadian jobs that don’t need a degree but still pay well.
Don’t stop believing in yourself
Don’t forget to laugh
For more money-making tricks, don't miss 20 must-know habits of self-made millionaires.