Hard work and doing a good job are valued at every level of society. Whether the work is done by a teacher’s assistant that makes $17,000 a year or the leader of a multibillion dollar data storage company, hard work is recognized as playing an important role in everyday life.
Wealth Requires Hard Work
Many people make the mistake of thinking that if someone starts off with a silver spoon in their mouth they’re going to be on easy street and won’t have to work hard. Granted it’s not the same as starting off as the single child to a lazy parent. However, the great equalizer over time is a dedication to hard work.
This is demonstrated in the fact that roughly 80% of millionaires are first generation wealthy. By contrast, lottery winners in many cases no longer have the money they won after 5 or 10 years. Why? They believed they no longer had to work to keep up with the new expenses created by their wealth.
Hard Work with Chores
The hard work ethic is something that parents in all income brackets can give to their children when they’re young. That process can start when parents give chores to their children to do around the house. Not only do the chores show young people how to work hard, but they also show them how to be accountable and responsible. That responsibility means that they are answerable not only for themselves but other family members as well. They are depended on and that carries a valuable lesson throughout their lives.
Hard Work after School
As they get older, the lessons of hard work can be learned in the work children do outside of their normal school work. So whether it’s a part time job after school or a school club they are part of, the parent by allowing their child to participate supplements their school education.
And obviously when they graduate from either high school or college they are tasked with the responsibility of working. No matter where they go it’s a valuable lesson they carry forward with them into the future.
So if you’re a parent wondering how you can instill a work ethic in your child, you can always start by letting them take on that responsibility in the home. Dishes, moping dusting, mowing the lawn are all great ways to get them on the road to learning the value of a hard day’s work. Again, dedication to hard work can be the great equalizer in making sure that young people are good contributors to society.
About the Author: Kolonji Murray is President of the financial advisory firm Murray Wealth Group in New York. Prior to starting the firm in 2009, he worked as a banker and financial advisor for a number of leading Wall Street firms. He holds a degree in Accounting from Hampton University and is active in a number of civic and industry organizations. Along with being a tax preparer Mr. Murray is Series 7 and 66 licensed in NY, CT and GA. He is also life, accident and health, variable life/variable annuities insurance licensed in those states.
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