The Truth About Wealth & Wealth Management
What exactly is 'Wealth', and for that matter, 'Wealth Management'? Many of us may have heard of stories of people who made tons of money from trading in the stock market, forex, options and the various kinds of investment vehicles. There are also many courses, workshops, seminars and training programmes that teaches the public how to do so, at a fee of course. However, do you know that investing is only a part of wealth management? In fact, I can even boldly declare that it is not the most important aspect of managing your finances. Yep, you hear me right. How many percent returns you get from investing isn't the most important. To put things into perspective, let us first understand what 'wealth' means... Wealth is a measure of how long one can sustain his/her lifestyle without working. For example, if Mr A has $100,000 in the bank and spends $20,000 per year, his savings will only last him 5 years. Thus, he has 5 years' worth of wealth. Not ...