When bitcoin goes up I see lots of people express this hope ("retiring their bloodline"). I can't think of anything worse. People need purpose. We are made to build. Making work optional for your descendants comes with an extremely high risk of pushing them into self-destruction and drift. Notable exceptions exist, of course, but it's hard to maintain your drive and find meaning when you don't need to work (and, in doing so, create value for others). Multi-generational wealth is a powerful tool when wielded well and a destructive force when left to chance. Want to build financial capital without undermining your human capital? There's a book for that… (see below)

Bwahahaha

A father who reads history to his children is arming them against every propaganda they'll face for the rest of their lives.

Ask most teenagers what their family is about (its goals, values, etc) and you'll get a shrug. That's rarely their fault. Nobody ever drew the line for them. Every family has a directionality of purpose, whether anyone has named it or not. Picture it as a tall cylinder with three bands. The bottom band: who we were and where we came from. Not the financial story, but the character of the people who got you here. The immigrant who took a risk. The shop owner who treated people fairly. The farmer who held land through drought. If you don't know these stories yet, your first job is to go dig them up. The middle band: who we are and how we contribute. Your present culture as actually lived, not the mission statement some consultant helped you draft. If your kids finished the sentence "In our family, we…" without thinking, what would they say? The top band: who we believe we can become, and what the world looks like when we get there. (This is where families either get grandiose or go silent…) Put all three on paper and you can see the line you've been following. In many affluent families, for example, the past is full of grit and the present reads like comfortable preservation: portfolio reviews and risk aversion. The future, if it's contemplated at all, shrinks to "don't screw this up." The line is thinning toward stasis. A teenager who sees this sketched honestly stops floating in abstraction. They can see where they came from, where they are, and where the family says it's going. Then they can ask whether their own choices are pulling in that direction or no direction at all. Direction, however dynamic, beats idle drift. The Directionality of Purpose is one of 25 frameworks in "The Wealth Trap." Pre-order link in the thread…