When you have already created a million dollar net worth, you have come a long way to create a multi million dollar retirement. You have already demonstrated that you have the skills to create wealth. Now is the time to learn the skills to multiply wealth. In many cases, this skill set to multiply wealth needs three main steps.
Firstly, it needs you to make your work harder for you, than you working harder for money. This means, your money needs to be invested at the right places and at the right time. Knowing that there is no perfect strategy to time the market, it all comes down to thinking long term and putting your money in a diversified asset basket.
Secondly, it requires you to become less emotional about money over time. As we generate wealth and have kept enough funds aside as emergency funds for the near future, we can become less emotional about money matters and make more rational decisions around money. It requires us to bet more on mathematics...
Some people can classify a multi million dollar retirement as exhausting and others can classify it as effortless. When it is classified as exhausting, then you try too hard, overcomplicate, overthink and overdo; but when it is classified as effortness, you find an easy path to the desired results. The purpose of this write up is to inspire you to ask yourself if creating wealth to reach your desired retirement portfolio should be exhausting or effortless for you.
Like most people, you might want it to be effortless but you might be finding it exhausting. If you resonate with this, then here is a formula to move from exhausting efforts to effortless state. This formula is inspired by Greg Mckeown’s work. When you reach the effortless state, you might encounter the following situations: you do something once and you benefit from it multiple times; or you stop trying so hard and start getting better results.
When you are trying to create wealth, you...
There are 9 parameters to address to create wealth for generations to come. These include Goal Alignment, Tax Strategies, Asset and Investment allocation, Retirement Planning, Philanthropy, Estate Planning, Real Estate Strategies, Tuition Planning and Life Insurance. It can be overwhelming for individuals, especially busy professionals and entrepreneurs to streamline all these 9 parameters by themselves and that’s why it is advisable to hire wealth coaches to help you in all these 9 domains.
In order to create wealth for generations, it is imperative to not only have the growth mindset but also train your next generation with the mindset to grow wealth. It becomes equally important to understand the mindset of the next generation and their thoughts on the new age investment opportunities like alternative investment portfolio or crypto. This generation of investors have seen more ups and downs as compared to many previous generations, and hence there have...
If you are already a homeowner, you have probably thought about buying an investment property or you might have already bought some investment properties.
In my experience of over 2 decades helping people buy their investment properties, I believe there is a three point checklist to make a decision to buy an investment property, which includes:
In my experience with my clients and myself, I start to see massive tax savings from 3rd investment property onwards and financial freedom from 5th investment property onwards. So, if you have your goals set to saving massive amounts of...
In my career of over 2 decades of helping my clients grow their wealth, I have found two tools that have been very helpful in creating wealth. These two tools are debt and taxes.
Do you know debt can be used as a leverage to create assets and build wealth over time?
Do you know that the government encourages people to use debt to create assets and generate long term wealth by giving you opportunities to save taxes?
But both these tools - debt and taxes are like sharp swords. Thus, they need to be handled well and you need to learn how to use them to benefit from it.
Why do you think the government incentivises you to take debt by asking you to pay less taxes?
One Primary Reason for this incentive is that the government is aware that entrepreneurs can help solve the bigger problems in the society and they can supplement the work that the government is doing to help...
I was once asked what we can do to create a pyramid of money or wealth pyramid. On deeper introspection on how I created my own wealth pyramid and how I helped my clients to create theirs, I found that a pyramid can be created if you focus equally on three sides of the pyramid. In the case of the wealth pyramid, the three sides denote Necessity, Pleasure (that includes Charity) and Savings (or money saved for a rainy day).
If you have not focused on any of them, the wealth pyramid cannot be created. When you have focused on each of these and have created the walls of the pyramid, then comes the time to fill the pyramid with investment money.
When you know you have enough money for a rainy day (typically 3-6 months of the expenses on a minimum side and 3-6 years of expenses on the maximum side), then you feel confident of taking calculated risks and feel ready to making investments that can yield appropriate returns in the short and long run to achieve your...
If you are someone with a desire to leave wealth for the future generations or to create wealth by helping people, and then contribute to charity to help more people - in either case you are working today so that you can live the life you want and make a real difference in the world.
With my decades of experience in helping entrepreneurs and professionals create wealth, I have seen that once entrepreneurs understand how to run their business; and professionals become a master in their area, then they become unstoppable and they continue to grow. But, many times with a focus on business and profession, entrepreneurs and professionals do not get time to focus on financial planning and understanding how to grow their wealth by making their money work for them harder.
And often, they tell me that they do not understand financial planning well enough to make their money work harder for them!!
So I figured a small analogy that I want to share today to help you understand what financial...
A midlife crisis is a transition of identity and self-confidence that can occur in middle-aged individuals, typically 45 to 65 years old. One of the most important aspects that you start to give more attention to during the middle aged years is your ‘retirement portfolio’. With growing life span and more arenas to spend on, we have to be more mindful of our retirement expenses and hence we need to focus on growing our retirement portfolio during the middle aged years.
There are three main areas on which we can work to increase our retirement portfolio with the intention of doubling it. These areas are: understanding short term and long term taxation, understanding when and how to switch the asset classes in the asset portfolio and lastly, how to modify our financial behaviour to favour growth of the retirement portfolio.
We have all heard about the idea of being...
" The secret to wealth is to pay yourself first. " - Helia Singh
Paying yourself first is one of the pillars of personal finance and considered the golden rule by financial planners. Also, Paying yourself first means paying your for your own education.
This golden rule is what can set you apart from people who have to scrape by every month. All it takes is a little dedication and a lot of discipline.
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Hi, I'm Helia Singh, an award-winning 7-figures femaleprenuer, I am a trusted wealth Coach and Financial Adviser. I help people to create a healthy relationship with money and reach financial independence & freedom following their value based financial plan back by my system. This exact system is responsible for making my clients happy millionaires.
This article will provide you quotes I made with new ideas and motivation to keep saving, working, and striving for the achievement you desire.
" No amount of money can fix poor financial mindset " - Helia Singh
Money will not be able to heal a poor financial mindset until you utilize it to educate yourself in financial literacy and discover new magical things you can do with your money.
That is why EDUCATION in any forms can make us grow and grow as long as we don't stop learning.
Enroll now or call +61 1300 603 609
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