Leaving a legacy for generations
Written by R. A. Stewart
“A good man leaves an inheritance for his children’s children.” Proverbs 13:22
I watched a TV program recently about a tree farmer in Finland whose family has been harvesting trees for over 300 years. As he told the reporter, he harvests the trees his grandfather planted while he plants the trees that his grandchildren will harvest. This went on for generations in this family.
What we do today will affect the future generations.
My great grandfather operated a brewery near Greymouth on New Zealand’s South Island. Prior to this brewery getting established, he had financial problems after his first brewery in Westport, sixty miles north of Greymouth was blown over by a south westerly wind. This occurred in 1879.
He managed to get back on his feet and get another brewery going within 10 years.
This proved to be successful and he built up his assets which included a farm 20 miles north of the brewery.
He also had a bit of money behind him as well.
Future generations have been blessed as my greatgrandfather left his farms to his sons, who in turn left it to their sons. One of his farms is being run by his greatgrandson.
Leaving a legacy such as a farm will enable future generations to make a living off the farm as their parents and grandparents did.
However, when it comes to leaving them a sum of money, should you?
It all depends on whether they are good stewards of their own finances. If they cannot handle even handling their own money then they cannot be trusted to handle yours.
A responsible and mature person will have joined kiwisaver, the New Zealand retirement scheme. If from New Zealand or their country’s retirement scheme if they are from a country other than New Zealand.
Now consider this, would you leave money to someone who:
Is not joined to a retirement scheme yet has subscriptions to netflix and satellite TV?.
Is not interested in obtaining a financial education yet buys a lottery ticket every single week?
Spends their money in the pub?
Will only spend their money on their hobbies?
Has no savings of their own yet smokes cigarettes?
Any person with any sense will know the character of their own family and ensure that their estates are distributed to those who are responsible.
Some folk will have all kinds of excuses for why they are in a financial mess, but not one of them will admit that they are living beyond their means. People who fit in the categories listed above are all living beyond their means.
If you cannot even be trusted to handle your own finances then you cannot be trusted with what belongs to someone else.
About this article:
This article is of the opinion of the writer and may not be applicable to your own personal circumstances, therefore, discretion is advised,
You may use this article as content for your blog, website, or ebook. Read my other articles on:
www.robertastewart.com
