The responsibility that comes with acquiring wealth and investing it in the future.
The level of effort to maintain wealth at a certain level is significantly less compared to the effort required to grow it. Redirecting resources from maintaining to growing requires more effort and focus.
The challenge of inheriting wealth is taking into account how the recipient will use it given the various forces at play such as their family, spouse and the possibility of their money outlasting their lifestyle.
The wealth management company, tiger 21, is building an exclusive network of wealthy individuals through their ideal customer model and exclusive paid versions like supercast that target 65-year-old white male insurance company owners.
The wealthy know what they're good at, do not take risks and invest frequently, says a person advising wealthy individuals in over 30 companies. Building wealth requires a mindset and habits that define personal decisions and spending money, says the advisor.
