You may know Donald Trump from his hit show The Apprentice or his run fro President.
Trump is truly an example of a defined career. He is an author, a Real Estate developer and involved in many other business interests.
Unlike many other wealthy heirs who’ve squandered their family fortunes, like Paris Hilton ALMOST did before she straightened out, Trump multiplied his wealth. But many who come into wealth are not so lucky.
Lottery Winner Syndrome
In fact over 70% of wealth is lost by the second generation and more than a whopping 90% of wealth is evaporated by the third generation according to this Wall Street Journal article on squandered, Lost or mishandled inheritance.
I talk about this often, its called the Lottery Winner Syndrome – where your internal belief system cannot handle the enormous pressure of tremendous new wealth. Pro golfer Tiger Woods is a pretty recent example. Soon after Woods dad died, he went on a sex binge that destabilized his career and destroyed his marraige. Without that support system his dad provided, he fell apart; his belief system couldn’t handle his huge success.
Another example is NFL players. 78% of NFL players go bankrupt or broke 2 years aft they retire. In boxing, Mike Tyson reportedly blew over $200 million in earnings. These athletes are able to go into huge debt – based on their brand – and then are unable to repay it.
We all have sophisticated beliefs system, based on many factors. Many of these beliefs limit us. They are called limiting beliefs. They could come from family, friends, social engineering, insecurities we have developed, media programming, numerous places.
These beliefs guide our decisions. If they are flawed beliefs – such as the belief “I don’t deserve all this wealth!” or “I can’t handle all this wealth, too much pressure!” You will find ways and make decisions to align your wealth to what you believe you deserve.
This works in your career path decisions as well. You may be worth WAY more than your salary or compensation plan, but on some level you only ask for XYZ pay instead of what you are worth. You may do this with spouse decisions and social decisions as well.
The good news is these limiting beliefs can be unlearned! Try this little money beliefs quiz to see where your beliefs stand.
Yes. You can consciously change what your beliefs are, and get the wealth you deserve – like Donald Trump has done.
What’s next for Trump
So what does the man who has everything do next? He runs for president. I wish Donald Trump much luck. It’s the next level for a man who has truly defined his career path.