Juggling Dynamite

As one of the world’s prominent leaders Pope Francis took a bold step in calling humans to action in defense of our planet this week. Many are continuing to waste time arguing about the nuances of climate change and raise red herrings there as an excuse to do nothing and continue with the same old technologies and behaviors. Others recognize that the earth is being abused in a million different ways that are threatening the sustainability of our life on the planet. We have endless room for improvement.

The real question is what are each of us personally prepared to do to be part of a solution. What extra costs are we prepared to pay in order to do less harm and use sustainable products, energies and technologies. What personal discipline are we each prepared to exercise in order to slow and reverse human damage to our home?

Words are cheap but has the Vatican moved to cutting-edge water and waste management techniques along with serious energy conservation initiatives, is the roof covered in solar panels yet?

It is time for each of us to stop arguing, denying, passing the buck, and get on with constructive steps.  We are either each part of the solution or we are the problem, and in the end, we will all pay the price of inaction.

Jon Stewart spoke ‘off monitor’ last night on racial violence.  Here is a direct video link.
More on the most recent victims in this clip.

70% of wealthy families lose their wealth by the second generation, and a stunning 90% by the third.  A new survey by the Williams Group wealth consultancy surveyed ‘high net worth individuals’ with more than $3 million in investable assets to ask how they are preparing the next generation for handling money.  See:  Poor little rich kids: most kids from wealthy families squander their inheritance:

“Looking at the numbers, 78% feel the next generation is not financially responsible enough to handle inheritance… Most of them have no clue as to the value of money or how to handle it.”

Consuming principle to fund spending and betting principle on risky financial assets are time worn ways to lose a fortune. Following mainstream financial advice sales is another.

And then there is the usual:  blowing principle on depreciating consumer assets.  Studies show it takes the average recipient of an inheritance 19 days until they buy a new car.

Wealth preservation has always depended on the personal discipline of keeping risk low, not losing principle, and spending less than one earns in income.

It’s not rocket science, but evidently, it’s very hard for most to do.