How can this generation create wealth for the generation to follow?

I saw an encouraging rant today by the Social Media villain Joe Black. He spoke of things I have felt strongly for.

The biggest problem we have in our generation is that the preceding generation left us with no capital backing. What this  means is that we are victims of our current circumstances. In the absence of cross generational wealth, which most of us don't have, we are slaves to employers and slaves to economic performance.

I am not denigrating the efforts of the generation that preceded, no... they fought tough battles to educate this post war group of snotty born free bhawa rangers. Neither am I denigrating our erstwhile employers to whom we are grateful for the opportunity to be the stand out statistic in this record breaking country. I only mean to challenge this generation to think of what we can offer the next.

In an article "Six things white people have that black people don't" Verashni Pillay (Mail and Guardian) wrote of cross generational wealth

 "Most white South Africans’ parents or grandparents were able to buy and own property and businesses or shares in business. They were able to pay off their properties or expand their businesses thanks to preferential treatment and employment. They were then able to leave the proceeds of this wealth to their children, our contemporaries, as either an inheritance or a financial jump-start in life.

Most black South Africans have no such jump-start. They stand and fall on their own efforts alone and there is very little safety net if they don’t make it. Family wealth is already thinly spread to cover those who have nothing."

This same issue is true to my Zimbabwean age mates: The bulk of us whom are gainfully employed are perpetually one pay check away from the streets. My former CFO at Jericho advertising, Delight Magora, in an unofficial lecture (he was also my landlord mind you) said to me “If I say to you this month, I can’t pay salaries. Will you be able to sustain your lifestyle for 3- 6 months?” In his thinly veiled lecture he emphasised the point that my generation is burdened by affording today and today only. You see, unlike our white counterparts our forefathers have neither left us a fully paid house or a thriving business. Our survival is plainly based on our ability to continuously smile, work and pray never to be fired.

So for today, in the little time I have to pen this article, I wish to suggest one way that our generation can create wealth for those to come.

Productive 20's

Zimbabwe is tough, jobs are hard to get and business is hard to run moreso at this age. Most young people are spending their twenties unemployed and depending on parents to take care of them. For the few who are employed, the twenties also pose a huge problem. This is a very expensive time of your life; as a young man you are in courtship, the dates, the clothes, you need a “kamota”, you’re paying post graduate fees, you’re experimental so you club etc. Not to mention rent, fuel, living expenses, all this on your 5bond coin salary. 

With the economy in shreds as it is, you have very limited earning capability and your borrowing capacity is weakened by your meager earnings. This does not mean you cannot borrow at all, but borrow for what? I will not pose as a know it all, situations will differ between individuals but my challenge for you is to  ensure your twenties are productive. One key issue is to ensure your earnings are cultivating in you a capability for increased productivity. Be it by investing in your education, investing in a new venture or building skills that can change your current situation.

One of the personal mistakes i have learnt from is living ahead of your capability, which is utilizing the full breadth of your earnings on sustaining your current needs. In a turbulent economy as ours, this proved a no-no. I am too young perhaps to be sharing crucibles, but it doesn't mean they're in-existent. In my few years of existence, It has come clear to me that productive twenties can set you up for an enjoyable future but best of all can launch your wealth creation for generations to come.

I am currently binge reading books by Joe Mutizwa, in the boook "Personal Crucibles: Learning to Lead Through Adversity and Struggles" , He cited a statement that changed my way of thinking. A lot of young Zimbabwean's will say we cant be extremely productive because the country is in crisis but Joe quotes,"A crisis is too good an opportunity to waste".