How Do I Prepare My Family for Wealth

Team TRADEway • November 4, 2019
Statistics have shown that an estimated 70 percent of lottery winners end up going bankrupt within the first 3 - 5 years. Many people think they would not encounter the same issues if they were to become wealthy. At TRADEway, we don’t support the idea of gambling, but we do support our students in learning how to build wealth. Often times our students want to know how they can prepare themselves and their families for becoming wealthy. There are four main principles that are important to learn before building wealth:

Wealth is a privilege, not a right
Wealth is not something that everyone has a right to. People have the right to pursue it. They have the right to go out and try to gain wealth, but they don't just receive wealth as a right for existing. Because wealth is something people must earn, we should be thankful when we receive that blessing. Deuteronomy tells us that we shall remember our Lord, because it is He that gives us the ability to create wealth. Therefore, anytime we're creating wealth, we should be thinking of Christ.

Wealth has the power to magnify. 
If you are a generous person, you have the ability to be more generous when you have wealth, therefore it will amplify the things that are in your heart. Likewise, if you are a greedy person, your greed will be magnified when you have more with which to be greedy. It is important to understand that money doesn't “corrupt” people, it compounds what is already in their hearts. That is why it is important to keep your mind and heart focused on the things of God. 

Wealth is fleeting. 
Wealth is not always permanent. We see this in the stories of many people in the Bible: Joseph, who had to store up for seven years in order to be prepared for seven years of famine; Job, whose wealth was taken from him, but the Lord brought it back. It comes in seasons; there is an ebb and flow to wealth. We should strive to use our money wisely while we are able. 

There is a purpose for wealth. 
Money is meant to be used as a means to provide for our family. The Bible tells us that if we have not provided for our family, we have denied the faith and we are worse than an infidel. God takes that very seriously. The Bible also says we are supposed to be risk-takers with our money. That means we should use our money to make more money. As we create a profit, we should then use our money to be joyful givers. We should give it to those who are less fortunate. Another way many people do not realize that money should be used is for fun. Those who are wealthy and using money the way God intended should also enjoy the blessings they have been given. 

When you build wealth the proper way and manage it according to Biblical principles, you have the ability to make a lasting impact on your own life and the lives of others. 

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By Blair Nightingale June 2, 2025
Let’s talk about the three main ways people sabotage their trading success. You can be doing all the right things, but if you have these three bad habits, your trades won’t work nearly as well as they should. I’m also going to be sharing one of the secrets–really one of the master keys πŸ”‘–to success in trading. Let’s get into it. πŸŽ™οΈSubscribe to The Word on Investing Podcast wherever you get your podcasts.
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Let’s talk about the three main ways people sabotage their trading success. You can be doing all the right things, but if you have these three bad habits, your trades won’t work nearly as well as they should. I’m also going to be sharing one of the secrets–really one of the master keys πŸ”‘–to success in trading. Let’s get into it. πŸŽ™οΈSubscribe to The Word on Investing Podcast wherever you get your podcasts.
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When people lose too much money to the stock market, it’s almost always because of the same problem. They’re trading without enough training. (Sometimes they haven’t had any training at all whatsoever.) New traders often don’t understand that trading is a new skillset that you have to learn. You can’t just open your computer and magically know how to do it. Guessing, gambling and just going for it isn’t what makes you money in the stock market–it’s what drains your account. In this episode, I’m going to share with you the three most expensive mistakes I see people make in trading over and over again. (Don’t make these mistakes!) ο»Ώ
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πŸŽ™οΈ Subscribe to The Word on Investing Podcast wherever you get your podcasts! When people lose too much money to the stock market, it’s almost always because of the same problem. They’re trading without enough training. (Sometimes they haven’t had any training at all whatsoever.) New traders often don’t understand that trading is a new skillset that you have to learn. You can’t just open your computer and magically know how to do it. Guessing, gambling and just going for it isn’t what makes you money in the stock market–it’s what drains your account. In this episode, I’m going to share with you the three most expensive mistakes I see people make in trading over and over again. (Don’t make these mistakes!)
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Show More
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Let’s talk about the three main ways people sabotage their trading success. You can be doing all the right things, but if you have these three bad habits, your trades won’t work nearly as well as they should. I’m also going to be sharing one of the secrets–really one of the master keys πŸ”‘–to success in trading. Let’s get into it. πŸŽ™οΈSubscribe to The Word on Investing Podcast wherever you get your podcasts.
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Let’s talk about the three main ways people sabotage their trading success. You can be doing all the right things, but if you have these three bad habits, your trades won’t work nearly as well as they should. I’m also going to be sharing one of the secrets–really one of the master keys πŸ”‘–to success in trading.
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When people lose too much money to the stock market, it’s almost always because of the same problem. They’re trading without enough training. (Sometimes they haven’t had any training at all whatsoever.) New traders often don’t understand that trading is a new skillset that you have to learn. You can’t just open your computer and magically know how to do it. Guessing, gambling and just going for it isn’t what makes you money in the stock market–it’s what drains your account. In this episode, I’m going to share with you the three most expensive mistakes I see people make in trading over and over again. (Don’t make these mistakes!) ο»Ώ
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πŸŽ™οΈ Subscribe to The Word on Investing Podcast wherever you get your podcasts! When people lose too much money to the stock market, it’s almost always because of the same problem. They’re trading without enough training. (Sometimes they haven’t had any training at all whatsoever.) New traders often don’t understand that trading is a new skillset that you have to learn. You can’t just open your computer and magically know how to do it. Guessing, gambling and just going for it isn’t what makes you money in the stock market–it’s what drains your account. In this episode, I’m going to share with you the three most expensive mistakes I see people make in trading over and over again. (Don’t make these mistakes!)
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πŸ“ˆ Join the upcoming Unlock the Stock Market Challenge: https://www.tradeway.com/challenge πŸ’Έ Free Masterclass - Becoming a Trader: The 4 Essential Skills You Need to Become a Great Stock Trader: https://www.tradeway.com/masterclass πŸ“² Book a 30 min call to learn more about the Challenge and decide if it's right for you: https://calendly.com/d/cn22-qct-2yf/challenge-strategy-session βœ… Subscribe so you don't miss any videos: https://www.youtube.com/@TRADEway When I first started trading I thought I was doing all the right things. I wanted to get in there and make some money–but some of my trades just didn’t work. I ended up learning a lot from my mistakes. You might assume trading comes naturally to some people, or that some were just born to do it. Maybe you think good traders simply need to get their securities license. The reality is that learning to trade is something almost anyone can do by learning a skillset–piece by piece. Today I’m sharing three of the biggest mistakes I made when I started trading. Watch Next: Top 5 Signs You Need to Quit Day Trading and Start Swing Trading What to Do if Your First Trading Year Was a Huge Flop The Top 3 Reasons I Quit Day Trading 5 Things I Didn’t Do to Become a Successful Trader
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You’ve decided you want to start trading and you’re looking at day trading. Is day trading doable? It can be, but it’s also highly demanding. And in the trading world, day trading is the hardest way to start trading. And there are pitfalls to day trading that you probably don’t even know about.
By Blair Nightingale May 5, 2025
You’ve decided you want to start trading and you’re looking at day trading. Is day trading doable? It can be, but it’s also highly demanding. And in the trading world, day trading is the hardest way to start trading. And there are pitfalls to day trading that you probably don’t even know about.
Show More
By Blair Nightingale June 2, 2025
Let’s talk about the three main ways people sabotage their trading success. You can be doing all the right things, but if you have these three bad habits, your trades won’t work nearly as well as they should. I’m also going to be sharing one of the secrets–really one of the master keys πŸ”‘–to success in trading. Let’s get into it. πŸŽ™οΈSubscribe to The Word on Investing Podcast wherever you get your podcasts.
By Blair Nightingale June 2, 2025
Let’s talk about the three main ways people sabotage their trading success. You can be doing all the right things, but if you have these three bad habits, your trades won’t work nearly as well as they should. I’m also going to be sharing one of the secrets–really one of the master keys πŸ”‘–to success in trading.
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When people lose too much money to the stock market, it’s almost always because of the same problem. They’re trading without enough training. (Sometimes they haven’t had any training at all whatsoever.) New traders often don’t understand that trading is a new skillset that you have to learn. You can’t just open your computer and magically know how to do it. Guessing, gambling and just going for it isn’t what makes you money in the stock market–it’s what drains your account. In this episode, I’m going to share with you the three most expensive mistakes I see people make in trading over and over again. (Don’t make these mistakes!) ο»Ώ
By Blair Nightingale May 27, 2025
πŸŽ™οΈ Subscribe to The Word on Investing Podcast wherever you get your podcasts! When people lose too much money to the stock market, it’s almost always because of the same problem. They’re trading without enough training. (Sometimes they haven’t had any training at all whatsoever.) New traders often don’t understand that trading is a new skillset that you have to learn. You can’t just open your computer and magically know how to do it. Guessing, gambling and just going for it isn’t what makes you money in the stock market–it’s what drains your account. In this episode, I’m going to share with you the three most expensive mistakes I see people make in trading over and over again. (Don’t make these mistakes!)
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πŸ“ˆ Join the upcoming Unlock the Stock Market Challenge: https://www.tradeway.com/challenge πŸ’Έ Free Masterclass - Becoming a Trader: The 4 Essential Skills You Need to Become a Great Stock Trader: https://www.tradeway.com/masterclass πŸ’° Download the free guide “5 Guidelines For Selecting Your Metals Dealer”: https://www.tradeway.com/metalsdealer πŸŽ“ Check out my course Barter to Currency: https://www.tradeway.com/barter-to-currency βœ… Subscribe so you don't miss any videos: https://www.youtube.com/@TRADEway Some people think that physical gold is an archaic thing to invest in. I disagree. Here are three reasons it’s a great time to buy physical gold and silver. Let’s dig into this important topic. More Content: Silver Not Gold? Buying Gold How to Buy Gold Why Costco is Selling Gold
By Ben Mitchell May 19, 2025
πŸ“ˆ Join the upcoming Unlock the Stock Market Challenge: https://www.tradeway.com/challenge πŸ’Έ Free Masterclass - Becoming a Trader: The 4 Essential Skills You Need to Become a Great Stock Trader: https://www.tradeway.com/masterclass πŸ’° Download the free guide “5 Guidelines For Selecting Your Metals Dealer”: https://www.tradeway.com/metalsdealer πŸŽ“ Check out my course Barter to Currency: https://www.tradeway.com/barter-to-currency βœ… Subscribe so you don't miss any videos: https://www.youtube.com/@TRADEway Some people think that physical gold is an archaic thing to invest in. I disagree. Here are three reasons it’s a great time to buy physical gold and silver. Let’s dig into this important topic. More Content: Silver Not Gold? Buying Gold How to Buy Gold Why Costco is Selling Gold
By Blair Nightingale May 12, 2025
πŸ“ˆ Join the upcoming Unlock the Stock Market Challenge: https://www.tradeway.com/challenge πŸ’Έ Free Masterclass - Becoming a Trader: The 4 Essential Skills You Need to Become a Great Stock Trader: https://www.tradeway.com/masterclass πŸ“² Book a 30 min call to learn more about the Challenge and decide if it's right for you: https://calendly.com/d/cn22-qct-2yf/challenge-strategy-session βœ… Subscribe so you don't miss any videos: https://www.youtube.com/@TRADEway When I first started trading I thought I was doing all the right things. I wanted to get in there and make some money–but some of my trades just didn’t work. I ended up learning a lot from my mistakes. You might assume trading comes naturally to some people, or that some were just born to do it. Maybe you think good traders simply need to get their securities license. The reality is that learning to trade is something almost anyone can do by learning a skillset–piece by piece. Today I’m sharing three of the biggest mistakes I made when I started trading. Watch Next: Top 5 Signs You Need to Quit Day Trading and Start Swing Trading What to Do if Your First Trading Year Was a Huge Flop The Top 3 Reasons I Quit Day Trading 5 Things I Didn’t Do to Become a Successful Trader
By Blair Nightingale May 12, 2025
πŸ“ˆ Join the upcoming Unlock the Stock Market Challenge: https://www.tradeway.com/challenge πŸ’Έ Free Masterclass - Becoming a Trader: The 4 Essential Skills You Need to Become a Great Stock Trader: https://www.tradeway.com/masterclass πŸ“² Book a 30 min call to learn more about the Challenge and decide if it's right for you: https://calendly.com/d/cn22-qct-2yf/challenge-strategy-session βœ… Subscribe so you don't miss any videos: https://www.youtube.com/@TRADEway When I first started trading I thought I was doing all the right things. I wanted to get in there and make some money–but some of my trades just didn’t work. I ended up learning a lot from my mistakes. You might assume trading comes naturally to some people, or that some were just born to do it. Maybe you think good traders simply need to get their securities license. The reality is that learning to trade is something almost anyone can do by learning a skillset–piece by piece. Today I’m sharing three of the biggest mistakes I made when I started trading. Watch Next: Top 5 Signs You Need to Quit Day Trading and Start Swing Trading What to Do if Your First Trading Year Was a Huge Flop The Top 3 Reasons I Quit Day Trading 5 Things I Didn’t Do to Become a Successful Trader
By Blair Nightingale May 5, 2025
You’ve decided you want to start trading and you’re looking at day trading. Is day trading doable? It can be, but it’s also highly demanding. And in the trading world, day trading is the hardest way to start trading. And there are pitfalls to day trading that you probably don’t even know about.
By Blair Nightingale May 5, 2025
You’ve decided you want to start trading and you’re looking at day trading. Is day trading doable? It can be, but it’s also highly demanding. And in the trading world, day trading is the hardest way to start trading. And there are pitfalls to day trading that you probably don’t even know about.
Show More