A Sense of Wealth is about the journey to a secure financial future so you can live your dream. It starts with common sense, age-old principles of wealth creation, wealth preservation and hard work to replace the distractions and noise out there. Welcome to the journey.
The Freedom Plan
Something was slipping away after a few years into a rewarding career. The career was progressing reasonably well with promotions, more money and plenty of learning opportunities but something was wrong.
I was on a treadmill like so many others, running faster and faster because that is what you are supposed to do. I was not sure where I was headed or if I would ever get there. But it was all I knew, so I kept running, Sound familiar?
Somewhere along the way, the problem surfaced; it wasn’t about the career or money, it was about having the freedom to live life the way we wanted. So, we put together what we called our “freedom plan.”
The plan consisted of saving and investing so I could “retire” early. Which I did at fifty years old. Retirement to me means staying busy but doing what I want to do. Rather than staying busy doing what others pay me to do.
It is fun and rewarding and includes, among other things, sharing the lessons I wish I had learned years earlier. Lessons from everyday people and some of the best in the world.
Lessons I hope will help you start earlier, get it right and arrive sooner. And it is not altruistic, because I learn too, and one of my dreams is to never stop learning.
Getting It Right
We start life dependent on others who care for us, as we learn how to care for ourselves. In the next phase, we become independent, caring for ourselves and others who are dependent on us.
If we get it right, in the independent and the final phase we are free to choose what we do and live our dreams.
The first part of getting it right is leveraging your most important wealth-generating asset: time.
If you are young, you have more of that precious asset to put to work for you. If you are older, it is never too late and the sooner you get started the better.
The second part of getting it right is understanding the value of money. Money is a utility and convenient way to define what it will take to get to that more meaningful place in life where we find our True Wealth.
It is important to be clear about what is meaningful and what are your dreams. Your True Wealth will always be more motivating than monetary wealth.
Simple but Not Easy
Monetary wealth creation is straightforward, but still so many struggle with money. Accumulating monetary wealth is simple enough. Spend less than you make to save and invest the difference. You can to do it yourself and we’ll show you how. You don’t need a financial advisor, a degree in finance, a large income or inheritance (although that certainly would help).
A large income is often associated with monetary wealth, but that can be very misleading. It is not wealth, nor does it guarantee future wealth. All you need is a simple financial plan, a commitment to debt reduction, saving and investments.
It is simple but not easy because you will likely also need to change yourself, those around you, and how you think about money. You may need to change your relationship with money, think independently and substitute simple arithmetic for fear and greed.
“It is impossible to produce superior performance unless you do something different.
-Sir John Templeton
That doesn’t mean we become penny-pinching misers who give up everything and stop enjoying life. Just the opposite. We are highly motivated when our money is aligned toward achieving a more fulfilling life for ourselves and for those we love.
The Place to Start
Are you behind financially, or in a deep seemingly bottomless hole? Did you never understand money management, economics or budgets? We cover this at the right time, but for now, please know these short-term challenges can be turned into your personal long-term advantage.
The only choice is to start where we are and make the best of whatever hand we were dealt. In Victor Frankel’s book, “Man’s Search for Meaning,” he describes his survival as a prisoner in a Nazi concentration camp.
“Yet one of the main features of human existence is the capacity to rise above such conditions, to grow beyond them. Man is capable of changing the world for the better if possible, and of changing himself for the better if necessary.” – Victor Frankel
Creating True Wealth will take time and gives us the opportunity to change for the better. As you journey to your dreams, you may find yourself a happy and motivated traveler.
We start our journey to wealth creation first with “Net Worth as a Lifelong Scorecard” and then a “Personal Financial Plan.”
Welcome to the Journey!
