Cómo construir riqueza viviendo en LATAM - Freddy Vega

How to create wealth living in Latin America?

It has always fascinated me to see how people in adverse situations manage to achieve explosive success without falling into the stereotype of "luck" or "being born into the right family". To truly understand this, I turned to science and here I share those voices of experience that may have the potential to transform lives in Latin America. This is a journey through wealth creation, not from the accumulation of material goods, but from the creation of a multi-generational legacy.

What does it mean to hack your social class?

Hacking your social class is to recognize that, although we grew up in contexts that profoundly affect our lives, we can take the reins and program our own destiny. It's not just about having access to resources or a prestigious education, it's about changing our perspective towards controlling our lives. Often it is not poverty per se, but the perception of being trapped at a certain level of income that limits us. And here, the role of mental viruses is crucial; it is those limiting beliefs that end up hindering our personal and economic growth.

What are the mental viruses that hold us back?

• The myth that "the poor are poor because they want to be": This phrase is a mental brake that undermines our sense of control and reinforces a dependence on the system.

• The belief in overpopulation as a crisis: This idea holds that the planet does not have enough resources, when in reality the problem lies in distribution and logistics.

• The idealization of SMEs: In Latin America, although the proportion of small and medium-sized enterprises is high, their contribution to GDP is low compared to other regions.

• The fallacy of microcredit: While popularized as a means of assistance, they often plunge people into poverty as loans that do not work in all business climates.

The key is to recognize these mental viruses and combat them, empowering ourselves with evidence and science.

How do human and social capital influence wealth?

Multigenerational wealth has less to do with formal education and more to do with the values and environment instilled in us by our caregivers. It is that human capital that derives from nurture and the social capital that is built through strong family and community networks.

Why does wealth resurface after generations?

This phenomenon is visible in studies such as:

• China and the Cultural Revolution: after massive dispossession, grandchildren of wealthy families became wealthy again.

• Post-Civil War United States: Slave-owning families lost their wealth, but their descendants regained financial status.

These examples reflect that it is not just money that is passed on, but values, implicit education and a support network that facilitates the rebuilding of capital.

What habits promote personal wealth?

• Valuing education: One should constantly seek to learn, even if formal opportunities are limited.

• Feeling control over one's life: Families with a financial background are more likely to instill the idea that actions have direct reactions, generating self-confidence.

• Work more productively: It's not about working more, but working better, with a clear focus on goals.

By integrating these three elements into daily life, a structure is created that favors not only economic well-being, but also a more fulfilling way of life.

How to strengthen social capital?

• Create strong family ties: Robust family networks act as a lifeline in difficult times and as boosters when opportunities arise.

• Marry between families with similar values: This enhances the transmission of values and mutual support.

• Collaboration across classes: Maintaining diverse friendships broadens perspective and opportunities, mutually elevating our financial circumstances.

The lessons from these studies are not just anecdotes, they are scientifically proven facts that show that financial and personal success enriches shared humanity. So, with an open mind and a willing heart, it is possible to create a legacy of wealth and well-being that extends beyond our generation. Go Platzinautas!