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Starting a Part-time Business may be the traditional advice. But it is a money sink hole.

This Day Newspaper Publication

Creating Wealth: Why relocating Abroad will not solve your financial problems In her first Episode of Creating wealth, Grace Agada, founder of CreateSolidWealth tells us why relocating abroad will not solve your financial problems and ...

The traditional autocratic family system has come to an end. But not without the many sacred cows it has created in families. Children born into the autocratic family system grew up with certain ideas, beliefs, and traditions that were exempt from questioning or scrutiny. These children adopted these beliefs out of fear not because they can defend them. As these children grew up, these beliefs become ingrained and form strongholds that then become the family sacred cows.

A sacred cow is any belief, ideology or concepts considered to be exempt from criticism, any form of questioning or open for negotiation. Children who grew under the autocratic family system dragged some of these family sacred cows into their own families. But rather than blind or fearful compliance from their own children, they are faced with a litany of thought-provoking questions. These children who now ask questions are members of the age of reasoning. In this age, reasons rule. Children of this age are looking for logical reasons why certain sacred cows exist. They are accessing the relevance and application of family sacred cows in their own lives.

If a family sacred cow cannot withstand critical scrutiny they will violate it. This violation can lead to family conflict. The presence of conflict in a family can break family unity and the absence of unity can destroy the long-term preservation of wealth. If parents must maintain true peace in their families they must find convincing reasons why the next generation must believe in certain sacred cows. There are about three sacred cows that turn the family environment into battlegrounds. More details on today's Business day Newspaper.

Wealth within a family has an effect on the capacity of a child to grow into a wealth creator. At certain levels of wealth, reproducing a wealth creator becomes harder, not easier. Parents in the bid to provide the kind of life they never had for their children overwhelm their family environment with unhealthy supply of wealth that makes it impossible for a child to succeed

Although parents hope that their children will one day grow to become wealth creators, it is rare that a child born into wealth develop the capacity to create, grow and manage wealth well without help. Besides hope is not a strategy when money is involved and parents must do more than hope if they want to preserve wealth long-term.

To help parents reproduce wealth creators in their families is a potent tool I recommend in today's article.

To learn more about this tool and how it can help you, kindly refer to today's business day article.

Without help and timely intervention, children born into wealth will depend on existing wealth rather than create their own wealth.