Millionaire plans to donate 99% of his wealth when he dies to keep his kids motivated to work hard
What's the best way to keep kids motivated to work hard and build skills? One is to teach them different things and the other is to not make things too easy in life.
Dave Fishwick, a self-made millionaire, swears by the latter principle. He has revealed that he will donate 99 percent of his fortune so that his kids stay motivated to work hard.
The working-lass millionaire is famous for launching his own bank during the 2008 financial crisis.
His company, Burnley Savings and Loans, is a community bank that helps local businesses to do well.
Fishwick had a humble beginning as a businessman. He used to sell minibuses but soon moved to the financial sector after realising his potential.
He plans to give away almost all the wealth he has accumulated over the years before his death.
Yes, he doesn't want to leave anything to his children.
“It’s so important that the children work hard because I have seen lots of people who have become successful and wealthy and they spoil their kids and the kids have no understanding of money whatsoever," he told Daily Star
“I am going to give 99 per cent of my wealth away when I pass away, whatever week, year it is. Hopefully it’s a long time away,” he added.
The businessman said he has worked hard in his life, working three jobs at once. That's what he wants his kids to do.
“It’s important that you have that work ethic and I think hard work puts you where some good luck will find you. My kids don’t always agree with that but they are good kids,” he said.
“When I have been away somewhere, down for a big meeting or a TV event or I am filming something and I come home and say ‘oh I saw so and so’ and she will say ‘never mind that nonsense Dave, do you want corned beef hash or cottage pie for tea’ and it grounds you immediately,” he adds.