The impossible dream… can you build wealth and live it up today?

January 21, 2020 The impossible dream… can you build wealth and live it up today?

Everything in life’s a trade-off, regardless of which way you look at it.

Take accumulating wealth. To get to a point of choosing whether you want to work – or not! – takes discipline and sacrifice. In other words, getting there’ typically a massive trade-off when growing wealth.

For me, the most difficult trade-off is having stuff and living happily and not beyond your means. I guess what I’m trying to say is that we tend to think of ‘wealth’ as happiness, but, in actual fact, it’s not.

Wealth’s just a means to an end – it buys you breathing space, which is what ultimately gives you freedom. And by that, I’m talking no longer being ruled by your family’s bank balance week in, week out.


We accumulate lots of stuff

It’s one’s of life’s most-often-used cliches, but material stuff rarely makes us truly happy. The excitement and post-purchase glow never hang around for long.

Even the biggest-ticket items like that spanking-new car and the feeling that comes with it eventually fades, often much faster when you’ve put yourself in a large financial hole thanks to a whopping car loan.

Now, look at my brother, he loves the car he bought a while back, but, could I live without it? For sure. 

The point I’m trying to make is I think it’s important to sit back and take stock of what’s important. Which is why having a financial game plan is so important.

If you know what you’re working towards in life – say, you’re working towards building wealth for your family – it makes it much easier to not fall for the trappings of rampant consumerism and buying this and buying that.

Why? Because it doesn’t fit with your long-term goal. I’m not saying you necessarily become a pauper – it’s important to treat yourself once in a while – but you always keep your eye on the prize.


It’s all about the journey

I’m going to throw another cliche out there – it’s important to focus on the journey, not the destination, when accumulating wealth and, within that, being happy today. An oxymoron, surely.

You’d expect me to say this, given what we do, but the way to do this is to do all the hard work upfront, get your ducks in a row, lay all the right foundations and let your overarching wealth-building strategy keep everything ticking along to get you there.

That way, you get less caught up in what you’re working towards and, in the process, have the freedom to enjoy life along the way.

Otherwise, without a proper game plan and strategy, it can become all-encompassing and, at times, overwhelming. The beauty of having the right strategy is that you still have money dedicated to treating the family now and then.


Don’t forget what’s important

This is the kicker – it’s so important to remember why you’re building wealth in the first place, which, chances are if you’re like me, is so that my family and I can live life on our terms and, selfishly for me, that I can get to a point where I can choose whether I want to work or not. From experience, I think it’s super important to regularly remind yourself along the way.

Accumulating wealth can be tough when if you’re at the beginning of the journey and don’t know where to start.

Don’t worry – I’ve been there. If you fancy a chat to get the ball rolling, book in some time with me below.



Disclaimer: All information contained within this article is of a general nature. It does not take into consideration your personal financial circumstances. Please consult a professional financial adviser (just like us ) when making a financial decision.

Jason Chew

I've been in the financial services industry for 10+ years and love coaching people to make the most of what they have.

No Comments

Post A Comment

Google Rating

Call Now Button