Changing the Generational Perspective on Financial Success - Bryce Thompson

I was featured on an episode of In Focus TV’s Power Moves discussing the generational ideas of success and what leads to success, and how I intend to change the narrative.

“The generational perspective is that you have to go the traditional route to become successful.

“In my family, I can probably name the people who have graduated college on one hand, but you know I always say: you’re either passing it on or starting it off. I say this because most people do not have a millionaire in their family, so you have to do something different than what’s been done before you to start it off. Or, you may have a millionaire in your family and then it’s your job to continue that legacy for generations to come. So everybody plays a part in carrying on their last name; whether they are starting it off or carrying it on.

“I never had a millionaire in my family before I became one so for now I’m positioning my little brother and all the younger people that are in my family to know about investing, to know about things that are the future of success. I do this so that we can completely break the perspective of ‘hey you have to go to college and then get a job, you have to work for somebody in order to become successful’, that’s not what I did. Even my little brother now has had his basketball dreams diminished but he knows that he does not have be an athlete or artist to become successful because he is watching me.

“Everybody can play a part in either starting it off or carrying it on. Don’t focus so much on the money, but more so focus on the impact you can make.

“We need to teach people about financial literacy and investing. A lot of young people my age, once they make a certain amount of money they don’t know what to do with it. People know how to make money, save money and they for sure know how to spend it, but people don’t know how to multiply money. Once somebody comes into money, if they don’t know what to do with it, it is easy to lose it. The one thing worse than not having money is getting the taste of having it and losing it.

“We need to really push out to the Black community specifically and communities in general the importance of how they can make money but also how they can keep it money. We don’t want to be successful for a year or for two years and blow all of our money, we want to be successful for generations to come.”

About Bryce: Bryce Thompson is a young millionaire and millennial business mentor. He is passionate about helping others to achieve their dreams through financial literacy. He founded the IAMS foundation, an organization giving back to the community through collegiate scholarships. Bryce also leads the IM Mastery Academy, an educational resource for those looking to accelerate financial growth.

--

--

--

!mpact Magazine is a platform where people with a vision can share their ideas and insights.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

On The Access Economy And Why I’d Rather Order Wagamamas Than Buy A House

I just became a millionaire! ($1M net worth as of today)

Basics of Investing: What Does Investing Mean?

Image of stacks of coins with a plant above them to indicate how investing grows money

Top fashion money saving tips

$233 Billion Asset Manager’s CIO Regrets Not Investing in Shiba Inu ($SHIB).

Welcome to week one of Financially Fab-ruary!

5 Passive income ideas for 2020

Why 3F’s -Family Friends Finances Blog?

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
!mpact

!mpact

!mpact Magazine is a platform where people with a vision can share their ideas and insights.

More from Medium

What will happen to the America I know, as we move forward toward the future?

How to Turn Unfortunate Experiences Into Powerful Motivators to Become ALL you Already Are!

Five ways you can spend a magnificent holiday!!

Breaking Down The Rest Of Our Credit Scores