How To Form A Dynasty Using Gold ~ The Gold Blog


How To Form A Dynasty Using Gold

This is a method that was used for centuries for a family to build and keep wealth over time. Before you implement any of these things you must assess your family members and see if your family is responsible enough to not let wealth come between them. This just like any other thing that can give you wealth or power, can be a double edge sword that can bring your family together or split them apart. I say this as a sincere warning and not hype. The first thing your family must do is save. The trick is not to save in any government currency, but to save in preferably gold bullion. Gold has had a track record for six thousand years of holding wealth; no government currency has never even come close.

Your family must pick an annual date. This date must be known and agreed upon by everyone who is participating. On this annual date everyone in the family who is old enough and capable of saving up a one troy ounce gold bullion coin should give the coins to one entrusted person. It is important that multiple people in the family keep a record on how much coins that person has entrusted to them. All records must agree. These one troy ounce gold bullion coins will belong to no one personally; it must belong to the family. Some rules should be understand and agreed upon with everyone who is participating.

For ease of description from now on I will refer to these gold bullion coins as the family pot. The family pot must only be used to acquire or build physical assets that will go up in value over time. These assets must be able to generate profits residually as soon as possible. Some examples of this are to start or buy a business, rental property, or any physical thing that can generate profits residually. The majority of the family must agree on who should borrow from the family pot.

To borrow from the family pot a person must be current on all the annual payments and must show that they will acquire or build a physical asset that will generate profits residually. That person or that persons progeny will not be able to borrow again until all the gold they borrowed is repaid to the family pot. If that person is successful in building or acquiring a physical asset that will generate profits residually, that person must share the knowledge in detail on how exactly they did it with anyone who is current in the annual payments. Also this person must share any contacts that help them accomplish their goal of building or acquiring a physical asset that generates profits residually. If anyone is to use this knowledge they must not set up a business too close to the original person to avoid the act of competing with the original person. The original person must have a say on if they think someone is setting up a business too close.

If anyone makes any improvements to a business or acquires a new contact that makes them more profits, that knowledge must be shared with anyone who is current in the annual payments if useful to them. A person can not ask for the gold they contributed to the family pot if for any reason they decide not to participate anymore. If someone passes away, half of their assets that are not part of their profit generating business must be converted to gold bullion coins and become a part of the family pot. If a business is to be sold half of the assets must be converted to gold bullion coins and become a part of the family pot. On the annual date everyone should do an audit on the family pot to make sure it matches everyone’s records.

The person entrusted with the family pot is fully responsible for any discrepancies with the family pot and everyone’s records. The person entrusted with the family pot is responsible for any amount missing even if it’s outside their fault. In the case of any amount missing from the family pot, the person entrusted with the family pot must buy back any missing gold. If the person entrusted to the family pot does not buy back the gold that person will lose the privilege of borrowing from the family pot for their self and their progeny until the gold is bought back. The person who is entrusted with the family pot will lose the role of being entrusted if any amount is missing from the family pot. Anyone who is to participate will have to agree to abide with all the rules.

If any family does these things they will not only build wealth but keep wealth; which is a genuine trait of a Dynasty. Some things you can do to keep your Dynasty strong is getting out and staying out of debt. Find the quickest way to make your business passive. If you hire a good staff to do everything you will have more free time to start up more businesses. Keep your business or businesses private, you can grow your businesses faster if you go public but you can also one day lose control of them. Keep your businesses out of debt; and last but not least, start businesses that genuinely makes people's lives better by selling goods or services that are useful to them, no matter how small or great it might be.

No comments:

How To Form A Dynasty Using Gold ~ The Gold Blog