Prosperous Frameworks for Families – Episode 474

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[00:01] Welcome to the Prosperity Podcast. Prosperity thinkers, welcome to the podcast. In a previous episode, Kim and I were talking, and there was one little thing she said, and this shows a master that has been very careful with their thinking and very careful and intentional with how they want to live their lives. So Kim says, hey, you know, when you take this prosperity pledge and you have this information and you work together as a family, you can collaborate and improve. The world doesn’t think that way, Kim. So invite us into the prosperous way of thinking so our families can do better. Yes, so well said. The prosperous way of thinking so families can do better because it is evident in my practice that when we have three generations of a family, which we have a few clients

[01:00] where we’re working with three generations and many of them, but where the third generation is adults enough to be able to be extra involved and make comments, et cetera, it is so different when it’s evident that that family is open and sharing with their personal finances. And when you think about any group that is making good progress, whether that group is a mastermind for a whole bunch of life insurance agents or a group like Vistage or Vonage, whatever it’s called, that is a bunch of CEOs or the groups that are inside strategic coach or the myriad of groups that create well together where they’re not in the actual same business, but they’re sharing information across business lines or in my example, across family lines.

[01:58] That is a prosperous way of being and doing business and providing help and getting help. The alternative to that is where you think you have all the answers yourself or that you can find them yourself and or you’re embarrassed about your situation and you’re not willing to share because it’s scary and sometimes you’re embarrassed about your situation because it’s got negative aspects. Some people are embarrassed about their situation because it has a bunch of positive aspects, but the lone wolf is in poverty mentally because they feel like they can do it all themselves and they feel like there’s nothing that anybody else can add. And yet we’ve got proof all over all those examples that I gave earlier of where

[02:46] groups share information that gets so much better results so much quicker. Oh, Spencer, I think you’re involved in some groups like that. Has that been your experience? It has, without a doubt. And I think it’s, you know, there’s that knife’s edge of being vulnerable and sharing information and I’m not going to say fearful, but you know, you look at it and you’re trying to solve a problem. You’re not complaining. You’re being transparent. And when you come to the table as wanting to learn the exponential growth is almost thrown at you. I’ve found that to happen every single time. Well, the very definition of not complaining is bringing up a problem with somebody that can help you do something about it.

[03:43] So Will Bowen, who is the complaintfreeworld.org master, literally it’s not a complaint if you bring up the problem to somebody that can do this. Is there not anybody that loves you more? So why does our society have this hang up in talking about money with families? And I don’t have a good answer to that question, but what I do have good evidence of is the families that share finances. And this goes back centuries. The families that share finances and there are evidence of them still in operation today, Rockefeller’s is one that comes to mind when those generations share financial information, both the good and the bad, they get so much better as a family. And the wisdom that is at play because those families are sharing information is

[04:43] super, super valuable. And it’s not easy. There’s skeletons in the closet. I can guarantee you. And yet, what a better environment to share the skeletons in the closet, the financial skeletons, if you will, than with family who love you unconditionally and the good that can occur from that sharing. That’s how prosperous families get prosperous and stay prosperous. Yes, I love the stay prosperous because I’ve seen it many times when they get prosperous, they don’t share and then the next generation, it’s gone. Absolutely. And that’s so scary. And it’s evidence in our entire world. Like in the US, we have shirt sleeves to shirt sleeves is kind of the saying in two or three generations. In China, it’s rice patties to rice patties and two or three generations,

[05:39] same concept. And so it’s so valuable to acknowledge that and do the sharing. But sharing can’t only be of all the things that are going right, because that’s not how life works. So we are doing everything that we can to help people do the sharing. Our perpetual wealth book is evidence of that goal for sharing. Our perpetual wealth workbook that goes with the book has exercises in it that are appropriate for all ages that enable some of that sharing. Our family legacy game that is a physical card game has fun available in it that generates conversations that help with sharing. So this is a lifelong goal of me and our team for the prosperity thinkers community in helping them implement the ideas of prosperity done in the

[06:40] perpetual wealth way, because perpetual implies in perpetuity, which means over and over and over and over again from generation to generation. And it’s about more than money, right? Wealth is about more than money. There are all kinds of different aspects of wealth and we cover those fairly thoroughly in the book and the word in the game as well. So I’m going to share a personal story of how this actually worked for us. And it’s a little shocking and it may be helpful for you as a listener. So there are certain signals that happen, meaning depending on what you’re doing with your life and the decisions you make, there are core foundational things you do that throw a signal off to others. Well, we were talking with some recent friends and they’re newer

[07:31] friends and the conversation of life insurance came up and we’re talking about whole life insurance, the product that we use. And they go, oh yeah, we’ve set this up as well. We have a family, we have a family bank. And from that dot connected another dot, which connected the other dot. And so, you know, our families are very tied close to the values that are forefathers and the foundation of this country. And then our family is also tied very much to looking at opportunities and being problem solvers and not being negative. And it’s amazing how that one thing gave off a signal for everything else. And so that’s the importance of sharing and prosperous thinking with your family and with others selectively doing it intentional.

[08:25] Yes, and contrast that to a story that you’ve told on the podcast where a family was trying to share with you how to get like free things in a way that was not honest or proper at all. And that one little dot just enabled you to see into their world in such a thorough way and choose not to encourage continued conversation with them because it was a black dot instead of a red or green, I guess, happy positive dot. Exactly. It’s amazing that we do so much work. We’re little icebergs that run around and we’ve done all this work below. And then we have these signals like this conversation, just like with the prosperity pledge of having things put together, knowing where we stand and then communicating it.

[09:17] It takes a very simple conversation to realize, wait, this person’s on the same team with me. OK, we can go deeper. And then there may be times where it’s like, hey, they’re not. And I’ll just be a little bit, what’s the word? I’m not going to say careful, but how would you say that? Right, I said it’s maybe. There you go. Yeah, that’s a good way of putting it. And many times people tend to change. They’ll say, hey, life is different. I want what you have. And that’s good. Absolutely. And what a joy to be able to share all of the kind of thinking that is so really, I guess, both hard and easy to grasp, but because it does have both of those elements, sharing is part of what enables it to be easier for somebody to grasp.

[10:06] And that’s a joy to do. Absolutely. All right, Kimps, thank you for this episode and for all of you listeners that are doing everything you can to make your families more prosperous. That’s what this episode was about. And if you want a deep dive, check out the book, Perpetual Wealth. It is a wealth of knowledge. I mean, it’s the A to Z on things that you can do with your family. And I promise you will find something for the next decades to implement. It’s that good. Thank you for listening to the Prosperity Podcast. To take control of your money and have it work for you, visit ProsperityThinkers.com.