Truth is most families are just one “calamity” away from bankruptcy. When I lived in the US, it was shocking to learn that a lot of families couldn’t immediately attend to a $500 emergency.
So, we all tread carefully as though on a tight rope, hoping and praying nothing happens such as life surprises that’ll push us over the edge.
I often think to myself, how many people have enough set aside in hard cash or assets that guarantees a reasonable and dignified life for a least 6-12 months if they were to lose their source of income suddenly.
It’s as though life in the 21st century is wired towards subsistence living and nothing more. Just obey the rules and you’ll be fine. Don’t aim or aspire for too much and you’ll get by. Just enough to sort out all the bills and a little “hopefully” to keep you breathing.
If we want to leave a legacy, it won’t be by living this bare minimum kind of life. Or we’ll end up same way as many of our parents who worked till old age not because they wanted to or their health could carry it, but just because they needed to take care of us. And some didn’t even wait long enough to eat from the fruits of their sacrifice.
I guess my point is, having just enough to fill the stomach today and buy ice-cream won’t transfer generational wealth or build a legacy for our offsprings.
If we don’t want to end up where those before us did, then we must do things differently. And don’t just be satisfied with today, think 20, 30, 50 or more years into the future and those things you want to see should be acted upon today. Those coming after us are looking up to us and will ask questions. We must not disappoint them.