Hi, assuming this app has India’s top 1%, and assuming some of us amass 5-10Cr by the age of 40/45 - and have a kid thats 10 years old by then, would you want him/her to get in the rat race just like you did or study something along the lines of how to make a 10% return on that wealth per year. If its the latter, whats your approach on teaching this to him/her. We built money from the scratch, but our kids can just take it further along. Thoughts?
Other way to frame it is - if you were gifted 1Cr at the age of 18 - how would you deploy it to make a return while also growing the wealth.
Depends on the maturity of parents, but human drama is essentially Maslow hierarchy
If parents are less mature, they would want their kids to surpass them on money or status
If parents are more mature, they would guide their kids to a life of self actualization, the final stage of psychological experience
Private trust. Infinite banking. A well planned, all weather, dumb family business. And Education.
If you want to create and sustain generational wealth.
So nobody knows because nobody’s done it here. Is there someone 40-45 here with a 10Cr corpus rn?
I will teach him to manage money, build business etc apart from “following passion”. Job only to learn not make money.
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