After the deadliest war in human history, the next generation decided to stop fighting

在人類歷史上最致命的戰爭之後，下一代人決定停止戰鬥

and start building.

並開始建設。

The generation that built the infrastructure upon which we are building everything became

建立基礎設施的那一代人，我們在此基礎上建立的一切都變得

to be known as the baby boomers.

被稱為 "嬰兒潮 "的人。

This generation amassed significant financial wealth and controls roughly 70% of all disposable

這一代人積累了大量的金融財富，控制了大約70%的可支配收入。

income, according to a 2015 report.

根據2015年的一份報告，收入。

And now, they are expected to transfer their 30 trillion dollars worth of wealth to the

而現在，他們預計將把他們價值30萬億美元的財富轉移到

next generation.

下一代。

It might seem like they will just blindly pass their fortunes to their kids, but that's

看起來他們會盲目地將財富傳給他們的孩子，但那是

not how it works.

不是它的工作方式。

Ideally, they would, but the reality is that a staggering 70 percent of wealthy families

理想情況下，他們會這樣做，但現實情況是，有70%的富人家庭都是這樣的，令人震驚。

lose their wealth by the second generation, and the third generation often ends up with

到了第二代就會失去財富，而第三代往往會以失敗告終

just 10% of that wealth.

只佔該財富的10%。

Over 90 percent of wealth gets lost by the third generation.

90%以上的財富到第三代就會流失。

Take the example of Rockefellers.

以洛克菲勒家族為例。

John Rockefeller was the wealthiest American ever lived who amassed a fortune of 400 billion

約翰-洛克菲勒是美國有史以來最富有的人，他積累了4000億的財富。

dollars as of 2017 when his company standard oil was broken down into multiple small companies

截至2017年，他的公司標準油被分解成多個小公司時的美元

that ended up worth much more individually.

最終價值更高的個人。

But as of 2020, Forbes estimated the Rockefeller family's wealth at just 8.4 billion dollars

但截至2020年，福布斯估計洛克菲勒家族的財富只有84億美元

which is just 2.1% of the original 400 billion dollars.

這僅僅是原來4000億美元的2.1%。

If you are wondering where did that wealth go?

如果你想知道這些財富去了哪裡？

Well, the source of that wealth is the family's stake in oil and gas companies such as Chevron,

那麼，這些財富的來源是該家族在雪佛龍等石油和天然氣公司的股份。

ExxonMobile, or pb.

ExxonMobile，或pb。

A 100 years ago, refining oil was as revolutionary as building smartphones today.

100年前，提煉石油就像今天製造智能手機一樣具有革命性。

However, fast forward to the 21st century, oil is viewed as a commodity that's slowly

然而，快進到21世紀，石油被視為一種商品，正在慢慢地

destroying our only planet.

毀壞我們唯一的星球。

So, governments across the world are setting deadlines on when they will forever ban gasoline

是以，全世界的政府都在為他們何時永遠禁止汽油設定最後期限。

cars which made these companies less valuable and drastically lowered the wealth of their

汽車，使這些公司的價值降低，並大大降低了他們的財富。

shareholders.

股東。

This brings us to rule number: Never let your wealth sleep.

這給我們帶來了規則編號。永遠不要讓你的財富沉睡。

The world constantly changes.

世界不斷變化。

Yesterday we had wired phones.

昨天我們還有有線電話。

Today we have little gadgets that we call smartphones.

今天，我們有一些小玩意，我們稱之為智能手機。

If you make the wrong bet, your entire wealth will go down the drain.

如果你下錯賭注，你的全部財富將付諸東流。

History is filled with such examples.

歷史上有很多這樣的例子。

I mean, just take an example of Nokia shareholders.

我的意思是，僅以諾基亞股東為例。

Once upon a time, every other phone in people's hands was Nokia, but one mistake brought the

曾幾何時，人們手中的其他手機都是諾基亞的，但一個錯誤就把

company to brink of bankruptcy.

公司到了破產的邊緣。

The company today is worth less than 10 percent of its peak.

該公司今天的價值還不到其峰值的10%。

That's how you lose 90 percent of your wealth in less than two decades.

這就是你如何在不到20年的時間裡失去90%的財富。

Rothschilds once created the largest financial system in the world, moving fortunes from

羅斯柴爾德家族曾經創造了世界上最大的金融體系，將財富從

one continent to another, helping kings and queens across Europe and beyond to manage

從一個大陸到另一個大陸，幫助歐洲和其他地區的國王和王后管理

their fortunes and raise money for future conquests.

他們的財富和為未來的征服籌集資金。

But as a result of geopolitical changes in the world and an emergence of new rivals,

但由於世界地緣政治的變化和新對手的出現。

the family's net worth today is a tiny fraction of the enormous wealth they have been known

今天，該家族的淨資產只是他們已知的巨大財富的一小部分。

for.

為。

And in 10 years from now, the technologies that will run the world will be different.

而在10年後，管理世界的技術將是不同的。

If you want to build generational wealth, then you should always keep an eye on how

如果你想建立世代相傳的財富，那麼你應該始終關注如何

the world is changing and invest in companies that are driving that change.

世界正在發生變化，投資於正在推動這種變化的公司。

2.

2.

never touch the principle

絕不觸及原則

Here is the biggest problem with wealth.

這裡是財富的最大問題。

It might be difficult to build a fortune, but it's far more difficult to keep that wealth

積累財富可能很困難，但要保持這種財富就更難了。

since the urge to spend is always there.

因為消費的衝動總是存在的。

Especially if you are used to a certain quality of life.

特別是如果你已經習慣了某種生活品質。

In fact, that's one of the main reasons why most people end up broke since their standard

事實上，這也是大多數人最終破產的主要原因之一，因為他們的標準

of life grows together with their income, but your income isn't guaranteed.

的生活與他們的收入一起增長，但你的收入並沒有保證。

There are millions of things that could happen and cut you from your income.

有數以百萬計的事情可能發生，並切斷你的收入。

That's why it is always important to live below your means.

這就是為什麼總是在你的能力範圍內生活是很重要的。

Ideally, never spend more than 50 percent of your income and if you have inherited that

理想情況下，永遠不要花費超過你收入的50%，如果你繼承了這個

wealth, then the vast majority of it should be reinvested back and the principle should

財富，那麼絕大部分應該被重新投資回來，而原則應該是

never be touched.

永遠不會被觸及。

Let's say you have inherited a million dollars, that million should be invested, and whatever

假設你繼承了一百萬美元，那一百萬美元應該被投資，而不管是什麼

income that million earns by the end of the year can only be touched.

萬人在年底前獲得的收入只能被觸及。

Ideally, half of it should be reinvested back to let the principle grow faster than inflation.

理想情況下，其中一半應該重新投資，讓原則性的增長速度超過通貨膨脹。

3.

3.

Invest in Cashflow businesses

投資於現金流企業

With the rise of tech companies, investors began to care less about cash flow and more

隨著科技公司的崛起，投資者開始不太關心現金流，而更關心

about capital appreciation.

關於資本增值。

People don't care about how much Tesla will make at the end of the year but how high the

人們並不關心特斯拉在年底會賺多少錢，而是關心特斯拉的價格有多高。

stock will spike.

股票將飆升。

Earning on the rise of the stock is also great, but when it comes to generational wealth,

在股票上漲中賺錢也很好，但當涉及到代際財富時。

you want to create stable sources of cash because, at the end of the day, you want cash

你想創造穩定的現金來源，因為在一天結束時，你想要現金

to keep coming in to finance your lavish lifestyle.

以資助你奢侈的生活方式，並不斷湧入。

If your wealth is only on paper, then you are rich only on paper.

如果你的財富只是在紙上，那麼你的財富也只是在紙上。

People might respect you for that, but there is little use to that wealth.

人們可能會是以尊重你，但這種財富沒有什麼用處。

That's why tech entrepreneurs often start massively selling their shares after building

這就是為什麼科技企業家們在建立了自己的股份之後，往往開始大規模地拋售自己的股份。

a successful tech company.

一個成功的科技公司。

Bill gates, before the dot com bubble, got rid of most of his Microsoft shares and diversified

比爾-蓋茨在互聯網保麗龍之前，擺脫了他的大部分微軟股票，並進行了多元化投資。

his investments into other stable businesses such as Berkshire Hathaway.

他的投資進入其他穩定的企業，如伯克希爾-哈撒韋。

Microsoft makes only around 1 percent of his entire portfolio.

微軟只佔他整個投資組合的1%左右。

Jeff Bezos has been selling billions of dollars worth of his amazon shares to buy properties

傑夫-貝索斯一直在出售其價值數十億美元的亞馬遜股票以購買房產

across the country and invest elsewhere.

在全國範圍內，並在其他地方投資。

Uber's founder long ago left the company and sold his entire stake since uber is still

Uber的創始人早就離開了公司，並出售了他的全部股份，因為uber仍然是

unprofitable.

無利可圖。

What you want are businesses that put cash on the table at the end of the day.

你想要的是在一天結束時將現金放在桌上的企業。

They shouldn't necessarily be huge companies.

他們不一定是巨大的公司。

It could be even a local grocery store.

它甚至可以是當地的一家雜貨店。

Real estate is also a great example.

房地產也是一個很好的例子。

Rental properties are a great source of cash.

出租房產是一個很好的現金來源。

In fact, it's one of the best ways to create generational wealth.

事實上，這是創造代際財富的最佳方式之一。

Especially in the last 2 years, the industry wasn't just cash flow positive, but prices

特別是在過去的兩年裡，該行業不僅僅是現金流積極，而且價格

appreciated by over 20 percent, which is quite unusual for the industry.

升值超過20%，這在行業中是很不尋常的。

Most important, the industry is stable.

最重要的是，這個行業是穩定的。

Even if you have purchased a property at the height of the housing bubble in 2007, in less

即使你在2007年房地產保麗龍的高峰期購買了房產，在較短的時間內

than 6 years, your property would have earned back its entire value by 2013.

超過6年，你的財產將在2013年之前賺回其全部價值。

4.

4.

Set up a trust

設立一個信託基金

Trust is basically a separate entity to which you can transfer your assets and then point

信託基本上是一個獨立的實體，你可以將你的資產轉移到這個實體，然後再指向

yourself as a trustee who is going to manage that money and leave instructions on how that

你作為受託人將管理這些錢，並留下關於如何管理這些錢的訓示。

money must be managed should something happens to you, like in the case if you pass away.

如果你發生了什麼事，比如你去世了，錢必須得到管理。

Because if you do not do that, your assets will be distributed by the court to your siblings.

因為如果你不這樣做，你的資產將被法院分配給你的兄弟姐妹。

So, that vast wealth you have built over your life will mean nothing since it could easily

是以，你在一生中積累的大量財富將毫無意義，因為它很容易就能

end up in the hands of people whom you don't even like.

最終落入你甚至不喜歡的人手中。

That's why all rich people create a trust fund to make sure that their wealth ends up

這就是為什麼所有的富人都創建了一個信託基金，以確保他們的財富最終會被用於

in the right hands who will keep growing it.

在合適的人手中，他們將繼續發展它。

If you want to pass that wealth to your children but are afraid that they might receive it

如果你想把這些財富傳給你的孩子，但又擔心他們會收到這些財富

while they are too young, you can easily put a term that your kids can only lay their hands

當他們還太小的時候，你可以很容易地規定你的孩子只能用手去摸。

on it once they reach a certain age.

一旦他們達到一定的年齡，就可以在其上。

If you pass away, the management of your trust fund will shift to the person whom you have

如果你去世了，你的信託基金的管理將轉移到你的人身上。

mentioned when establishing the trust, which can be a professional who will manage that

在建立信託時提到，這可能是一個專業人員，他將管理該信託。

trust and will get 1 or percent of the total wealth.

信託，並將獲得總財富的1或百分比。

A trust isn't just to pass your wealth to the next generation but to protect it against

信託不僅是為了將你的財富傳給下一代，而且是為了保護它免受

taxes or divorces.

稅收或離婚。

Remember, once you have established that trust and moved your assets, these assets are no

請記住，一旦你建立了該信託並轉移了你的資產，這些資產就不再是你的了。

longer yours.

不再是你的。

5.

5.

Education & Mentality No matter how much you build over your life.

教育與心態 無論你在一生中建立了多少。

It can be destroyed in a glimpse of an eye.

它可以在一瞥之間就被摧毀。

The world is filled with such examples, especially spoiled kids who have no idea how to manage

世界上充滿了這樣的例子，尤其是被寵壞的孩子，他們根本不知道如何管理

money.

錢。

They haven't earned that cash, so they don't appreciate it and respect it as much as the

他們沒有賺到這些錢，所以他們不像那些人那樣欣賞和尊重這些錢。

person who built it with his blood and sweat.

用他的血和汗建造它的人。

So never hesitate to invest in your children's education if you want your wealth to keep

是以，如果你想讓你的財富保持下去，千萬不要猶豫，投資於你的孩子的教育。

growing.

越來越多。

It's not just about knowledge but also discipline.

這不僅僅是知識的問題，也是紀律的問題。

Discipline is taught during childhood.

紀律是在兒童時期被教導的。

Teach your kids to understand the value of postponing gratification, and make yourself

教導你的孩子理解延後滿足的價值，並使自己

an example of how money should be treated.

一個應該如何對待金錢的例子。

These are just a few suggestions on how to build generational wealth.

這些只是關於如何建立代際財富的一些建議。

There are far more aspects to consider, such as marrying the right person because if you

需要考慮的方面要多得多，例如與合適的人結婚，因為如果你

end up in a divorce with the wrong person.

最終與錯誤的人離婚。

Your wealth can easily be lost.

你的財富很容易丟失。

Thanks for watching, and see you in the next one.

謝謝你的觀看，下一集見。