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    Wealth Management Isn't Just for the Rich: The Secrets to Retiring in Luxury
    Wealth Management Isn't Just for the Rich: The Secrets to Retiring in Luxury
    Wealth Management Isn't Just for the Rich: The Secrets to Retiring in Luxury
    Ebook134 pages1 hour

    Wealth Management Isn't Just for the Rich: The Secrets to Retiring in Luxury

    By Sissi Goh, Raymond Aaron and Loral Langemeier

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    About this ebook

    Is retirement looming in front of you like a ticking time bomb? Are you saving for retirement? Are you planning to work the rest of your life? In Wealth Management Isn’t Just for the Rich: The Secrets to Retiring in Luxury, Sissi Goh and Raymond Aaron take you on a journey through the world of investing. From learning about your net worth to understanding the fluctuation of the financial markets, you can become the best advocate for building your wealth and creating income streams that can impact your life right now! Sissi and Raymond take their years of experience in investing and the financial markets to help you take a hard look at your own financial position and the changes you can make to meet all your financial goals! If you want to retire in style versus just trying to survive, then this guide is key to
    helping you make the right choices as you venture into the world of investing. Let Sissi and Raymond guide you to the strategy that will make your goals a reality!
    LanguageEnglish
    PublisherBookBaby
    Release dateFeb 12, 2018
    ISBN9781772772005
    Wealth Management Isn't Just for the Rich: The Secrets to Retiring in Luxury

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      Book preview

      Wealth Management Isn't Just for the Rich - Sissi Goh

      Maker

      Building Wealth Takes Effort –

      Introduction

      I wandered in a park at one point in my life and found a trail that said it would lead to this amazing point on the mountain, where I could see everything for miles. The view was touted as breathtaking, and I wanted to experience it for myself. But, at a certain point, the trail split. There was no sign telling me which way to go. One trail headed downward, away from the mountain, which was my goal. The other headed slightly away from the mountain, but I could see a curve in the trail that headed gently upwards. Which path was the right one?

      I wanted to choose the one gently heading upward because it seemed easier and, most of all, it appeared to be the right direction. Have you ever been in a similar position? A choice presents itself: one path seems easier and the right way to go, but the other path, with its appearance of difficulty, seems to be the choice to shun. Surprisingly enough, however, those difficult paths often turn out to be the ones that result in the best experiences. I chose the path that appeared to wind downward but, after a difficult climb, was rewarded with one of the most amazing views of my life. Later, I learned the other path sloped upward for just a short time before heading into a swamp. It would have meant a different experience altogether.

      Let’s stop for a minute and talk about the path that you are on. Where is it leading you? Is it toward a major life experience or toward a swamp? When we don’t stop to assess where we are on the path of our lives, we can often find ourselves, years later, someplace completely different from where we intended to go. How does this happen?

      If you are like so many of us, you know that working is a reality of life, to pay the bills and to enjoy life. We are keeping our heads down and focusing on this day, this week, or this month. The future is something planned for, which ends up creeping up on us while we aren’t looking. If you are stuck in the rat race, focused solely on the routine, then you are missing the point. You are missing your life!

      That’s all fine and good, you might be thinking, but I still have to live. I can’t just quit my job and start this amazing life. Only a select few are wealthy enough to not have to work at all!

      I am sure that your plan is to save and then retire. But retirement brings a whole different set of challenges. That is because you are likely falling into the group of individuals who are not saving and building enough financial reserves for retirement. So, again, you don’t have the resources to chase your dreams and fulfill your personal bucket list. It sounds like a financial cycle that ends in you making money for someone else and missing out on what you really want to do and accomplish in your life.

      A vast majority of us are so focused on paying for our current lifestyle, we aren’t even thinking about the future or what isn’t working about our current financial situation. There might be a small portion of our paycheck pulled out for our retirement fund, but, otherwise, we just don't think about it. Is this your experience? Are you actively managing your retirement fund, or has it just been put out of your mind, something you will deal with later? Building wealth requires active management to create a source of income that will allow you to enjoy the lifestyle of your dreams, both now and into retirement.

      Yes, you read that right. Wealth building doesn’t have to be limited to your retirement. It can be a process that allows you to do the things you have dreamed about right now. Why do you need to wait until you have stopped working? But so many of us put our dreams and bucket list of experiences on hold until we can afford them or until we have time. I am here to tell you that the best time is now—you don’t have to wait until you retire to do everything you have dreamed of. Many of you might think that you don’t have enough money to worry about managing it. You might think, I’ll just wait until I get rich and then I will worry about creating a plan to manage it. The truth is that if you don’t start managing your money now, you are not going to grow your wealth and get rich. Rich people have a different perspective on money and that starts with how they view their money and how they manage it. Throughout this book, I am going to be sharing with you how they view money and how you can start treating your money the same way. With proper techniques, you can start to grow your wealth. Once you begin the process, it can open up a myriad of other possibilities. Though it may be difficult at first, the amazing view is worth all the effort.

      What do you enjoy doing? What are you passionate about? For a lucky few of us, our jobs speak to our passions, and give joy and purpose to our lives. But if you are not one of those individuals, then you need to recognize that your job now is a stepping stone to the next level of your wealth. By changing how you look at money, and becoming an active manager of your assets, you can build the wealth you need to reach your goals and dreams, even before you reach the age of retirement. Don’t keep putting it off!

      When you have a purpose, it gives you a focus. Have you ever taken a drive or a trip without a specific destination in mind? How often do you end up wandering around, not really making any progress? At the end of the trip, you might not have really seen or done anything memorable, and it can feel as if you wasted your time.

      Building your wealth is the same way. If you don’t define your purpose and create a plan to follow, you will find that you meander without seeing a significant increase in your wealth, investments, and savings. You will have wasted a lot of time and energy with no return.

      However, once you define your purpose and where you want to go, then it can be much easier to organize your actions and goals to achieve that purpose. This goes beyond just building your wealth, to creating the life that you want.

      For many of us, however, building the life that we want needs to start by changing how we view money and our finances.

      One of the first ways to define your purpose is to examine what brings you the most joy. Our internal compass guides us by our joy meter. Make a list of the times or activities that bring you the most joy. Is there something that they all have in common? Once you determine that, you will be amazed at the possibilities that pop up to monetize what you feel inspired and joyful doing.

      I want you to spend a few moments doing an intense self-examination and making your list. This is going to be key in understanding how you are going to build your wealth, and also how you are going to achieve your dreams and goals. By truly understanding how you want to live, you will define your wealth building strategy.

      Now that you have defined your purpose and are ready to create your wealth building strategy, it is important to be ready to embrace change. Everything you are doing right now is not getting you where you want to go in terms of achieving your goals and dreams. This means you are going to have to make some big changes, not only in how you think about money but how you use it and your strategies for obtaining it.

      Over the course of this book, I am going to help you define your financial goals and give you some practical ways to achieve those goals through investing and wealth building.

      This will include looking at how the markets behave, and helping you to understand how to know when you need to make changes to achieve your goals. Along the way, I want you to be thinking about how you can start creating change in your life by changing your mindset and actions daily, to achieve not only your financial goals but your lifestyle goals as well.

      It is amazing how quickly you will be able to refocus and achieve your dreams, just by making financial changes right now! So, let’s get started!

      Chapter 1

      It’s Not a Habit, It’s a Mindset

      How do you think about money? Is it the goal of your efforts, or is it a tool that you wield to achieve your dreams? The way we think about money can impact how we use it and, also, how we make more of it. Assets can be sacrificed for short-term goals or needs, but those decisions about how to allocate assets end up having a larger impact on your future income, simply because those assets haven’t been growing. Your money mindset needs to be greater than just the immediate financial concerns of paying rent and caring for your living expenses and current needs.

      When you get your paycheck, how do you allocate it? For so many, the process goes something like this: I have $1,000. I need

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