A survival mindset can stifle creativity and innovation, leading to stagnation among those who feel entitled to wealth without personal value or skill improvement. Inherited wealth without purpose can result in feelings of shame and guilt, leaving individuals feeling lost. True fulfillment and effectiveness stem from having a sense of purpose beyond mere financial accumulation. Without a meaningful goal, both individuals and organizations risk decline, emphasizing the importance of cultivating purpose to sustain value and engagement.
Garrett Gunderson is the founder of Wealth Factory, a company that provides personal financial education, guidance and family legacy programs for entrepreneurs, professionals and small business owners.
He is also the New York Times bestselling author of Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity.
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