Know Your Finish Line

Once you’re wealthy, is there ever a reason to become unwealthy again?

According to Datamonitor, millionaires in the U.S. lost $1.2 trillion in portfolio value of assets between 2007 and 2009. The U.S. lost over 4.5 million of affluent individuals. In other words, 4.5 million people who were considered affluent in 2007, were no longer affluent at the end of 2009. As I point out in my new book, You Should Only Have to Get Rich Once, when you win the financial race of life, don’t re-run it.

The wealthy client is at a crossroad. There is so much noise in the financial services industry as to drown out the whisper of wisdom. When I sit with a wealthy couple looking to reevaluate their financial future, one thing becomes evident. Many have been trained to run the Hamster wheel for so long they’ve never considered getting off. Many never consider how investing, especially for the wealthy client, should create peace not fear. Your wealth should fuel activities that make you happy, period.

I get excited when the light comes on in the eyes of clients who realize they’ve won. It’s what I live for. Reaching your Point of Independence frames everything thereafter. Learn to be comfortable with living comfortably. You earned it.

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