Whether you are the wealthy inventor of a patented product or an employee struggling to make ends meet most people realise at some point that to earn money is easier than keeping it.
True financial wisdom lies in putting a portion of the money received and then being prudent in preserving the underlying value of your assets. Many may find it difficult to believe that someone that receives a windfall of a large sum of money and simply leaves it in the bank is worse off after ten years than a salaried employee who invests a small amount regularly in carefully selected stocks and funds.
A simple parallel to this is the maintenance of a vehicle. Once purchased a vehicle it is not simply a convenient piece of machinery that transports you from A to B with no further thought. Regular servicing and insuring against unforeseen circumstances are all essentials accepted by the majority of owners.
The concept is no different when it comes to MONEY MATTERS – another “vehicle” that requires time and effort to reach your destination. Many people make the mistake of thinking that once an asset is acquired it is the end of the process. It is however just like obtaining a vehicle – it is only the beginning.
In the maintenance of assets it is essential to have regular consultations with financial “mechanics” that can assess if you need a change in strategy to protect their value, to advise on tax efficiency and how to obtain value for money in securing high quality financial advice.
The message at the end of the day is clear – if you are playing for KEEPS – to PROTECT and PRESERVE the wealth that you create then high quality advice is priceless. •