“Wealth is more often the result of a lifestyle of hard work, perseverance, planning, and most of all self-discipline.” —Thomas J Stanley, The Millionaire Next Door
Wealth accumulation is exactly as its name implies: increasing one’s net worth and wealth over time. This might be through acquiring more and more money and investing it in assets that compound returns.
Accumulation by definition doesn’t happen overnight; it is a gradual and continual process over time.
We believe a long-term investment plan can be achieved while enjoying life along the way. The most important ingredients for accumulating wealth are having a plan, sticking to that plan, and starting as early as possible.
Identifying long-term goals can help you create a clear path to meeting your goals. Without planning you may risk investing considerable time, effort and resources.
There is also no right or wrong way to accumulate wealth. Financially successful people can come from all industries and job titles including entrepreneurs and long-time employees. We believe having a financial plan can give you the motivation to work a little harder with the confidence that your hard-earned resources will be put to work towards the pursuit of your financial goals.
Even when life’s responsibilities are challenging, you can follow some simple and important strategies to accomplish short-term and long-term wealth accumulation. You would be surprised at what you can achieve with simple and consistent practices.
Everyone would like to have more money – particularly at retirement – but the right financial advisor, can set that plan in motion and work towards saving for a better future.
Wealth accumulation is about more than how much money we can spend. It is also about having that money when we need it most.