You can’t choose who your parents are, but you can influence to some degree who will remember you in his last will. The odds are very small that some millionaire would give his money to someone else than his children, but it has happened in the past. As you don’t know when the millionaire will die and if he will remember you in his testament, this approach is similar to gambling.
A better approach is to use your millionaire friend as a bank – if you have a good business plan, you may persuade him to invest in your idea. If you know what you are doing, you will make both of you richer. If not, you will probably lose a friend.
Inheriting wealth is neither bad nor good in my opinion. The benefits are that you have big starting capital, you usually have a network of rich connections created by your parents and you can take more risks because you don’t have to invest everything you have. You can keep some reserves for the bad times.
Inheriting wealth can be negative if your parents haven’t given you enough space to get painful experience of being without money. Also if you feel all the time, that if anything goes wrong your parents will come to the rescue, it will not help you to mature and take care of yourself on your own. Experience of being self-reliant is necessary for your self-esteem and your personal growth.
Painful, character-building experience is necessary for your growth. You need to experience bad times to get used to and adapted them. Surviving bad times will make you stronger. Inheriting wealth with responsible coaching from self-made rich parents is the best way to get rich in my opinion.
What’s essential is that your rich parents let you experience bad times, let you get hurt for a while and thus you become more experienced and stronger. Your character is more important than your capital in the long term. If you lose your capital, but don’t know how to create it again, you will be in trouble.
If I had to choose between inheriting no wealth and having space to grow my character over inheriting capital and having no space to grow and learn how to create it, I would chose to be born as a poor person. We all are born naked with zero in our bank account. It is normal to start from zero.
Being born poor and having strong survival instincts will put you on your way up. If you manage to change your status from poor to financially comfortable, you have the character needed to change from financially comfortable to rich person. You can create habit of striving for a better life, working hard and smart to get higher and higher on the social ladder.
If you are born to a financially comfortable family and you will not experience lack of money, there is a high probability that you will not have desire and ambition to get rich. You have had no reason to develop desire for something which you already have. People realize how important something is usually only after they lose it.
If you were born rich or comfortable and your parents ‘walked the way for you’ already, it is good to step out of your comfort zone to shape your character. You can take the challenge to start your wealth without the money or connections of your parents.
Experience both bad and good times and learn how to build your wealth from scratch without the help of your family. Then get back to your family wealth with your experience, self-esteem and knowledge and increase the family wealth. You should do it if you want to prove to yourself that you could do it even if you were not born rich.
If you already are rich, you have to focus on how to stay rich and grow your wealth at the same time. Spend your time in discussion with your parents and your rich self-made friends about these topics to learn more and get new ideas how to earn more while evading predatory taxes, costs and bad investments.