Today, her family epitomizes the idea of life-long fellowship. Yet, the hardships of her childhood helped prepare her for success now, claims Financial Advisor Marina Schroeder.
So, what’s the most common mistake young families make?
“Failing to plan,” she told me. Oh dear, I thought, that’s still my own most common mistake.
The child of immigrants, Marina joined me recently on Fireside Talk Radio to share about starting from scratch to create sustainable multi-generational wealth. Yep, Marina encourages folks to plan two or three generations ahead.
“‘I want to send my kids to college,’ we can all say that, but at some point you have to put pencil to paper and develop a plan,” she says.
I couldn’t wait to get her wisdom about multigenerational businesses, since she partners with her own son, T. J. Mathis, a Certified Financial Planner.
The secret is respect, according to Marina. “If you treat others like a king, you ought to treat those closest to you with respect,” she says.
Sometimes, folks “assume that our kids shouldn’t work,” however, Marina says her background of hard work inclined her for success. “We didn’t waste anything,” she laughs, remembering paper routes and lawn mowing as a youngster.
With tenderness Marina advises us to have open conversations within families, so there are no surprises. For instance, often when one spouse dies the other one doesn’t know how to pay the bills, much less what investments are available. Single moms can beat the odds to save and invest, too, with a little careful planning. Openness in families fosters a kind of respect that prepares our children to be better stewards, she says.
“Have a plan. Develop a plan. Be a blessing,” she adds.
In keeping with the blessing theme, Marina advocates committing to “first fruits” giving. There’s accountability and freedom in tithing, it turns out. By planning our budget and looking closely at income and spending, we free ourselves, according to Marina. In our freedom, we have the chance to bless others.
“A basic principle within me is that I know I am so blessed to be cared for by God,” she says, explaining the value of knowing God as our companion in life.
“Ask this: How can I be a blessing to other people?”
In her explanation, I found a whole new level of accountability built into the concept of giving. What a fun conversation with this talented and thoughtful financial guru!
“It’s easy to look back on (childhood trials) now and see how God brought me through. He has been with me throughout my life,” she says. Allowing Jesus to heal the parts that hurt made Marina the successful person she is today. Plus, embracing a lifestyle of forgiveness and freedom means she now draws on her compassion to generously bless others.
Cathy Primer Krafve, aka Checklist Charlie, lives and writes with a Texas twang. Contact her at CathyKrafve.com.