There is one overlooked source of wealth for many people. This is a big financial regret for those who do not do it, and a costly financial mistake. It is utilizing their defined contribution (DC) pension. Pensions are an iceberg asset, a hidden treasure. This is because it does not show overtly in a person’s…
Time is not money, but time is a form of wealth. Finance people think differently. We get triggered by monthly expenses that most people would shrug off. Why? Because we understand and utilize money magic. In finance jargon, this is called compounding interest. It refers to when your investments make returns; those returns will also…
“The best of all medicines is fasting and resting” – Benjamin Franklin I am on a fast. I do it from time to time and find it very beneficial. I think the main benefit for me is a reset. Fasting is like walking through a vast dessert knowing you will reach a fantastic destination on…
Like this tree, we can struggle to grow wealth without a proper foundation, but it is neither wise nor sustainable long term. This is a picture I took the other day in Canary Wharf, London and the tree is growing on a raft which was originally placed there for the local birds to nest on….
How do you get the important value of vacations without overspending past your budget? You may be thinking about summer vacation plans and feel the pressure to make great family memories. Especially as parents in this era, we can be pressured to create epic memories that have high price tags. This can be due to…
Life is a beautiful assortment of opportunity that awaits you. As you gain more momentum building your wealth, you will have more access to life’s material treats in all of its variety. This does not mean that you have to partake of everything offered. And just because you can afford something doesn’t mean you should…
In life, we can take the safe path of mediocrity or the ‘riskier path less travelled.’ The world is changing fast and necessitates measured risk-taking. There are other risks that we acquire by having valuables like loved ones and material abundance. Once you have someone or something to lose, you worry about losing them. In…
Even though it does not appear in your net worth statement, your body, your relationships and communities are your biggest assets. The health of these areas of your life enhances your true wealth. That is why one of the four dimensions of the Compass Star PATH is health. Health is your first wealth. Health allows…
“Time is free, but it’s priceless. You can’t own it, but you can use it. You can’t keep it, but you can spend it. Once you’ve lost it, you can never get it back.” – Harvey Mackay A major area of true wealth is time. Fabulous, precious time. I think it is no coincidence we…
Abundance is the second element of the Compass Star PATH (which stands for Passion, Abundance, Time and Health). It is the more traditional view of wealth representing actual money and material abundance. A key facilitator of increasing abundance into your life is whether you view the world through the lens of scarcity or plenty, I…