How many times have you found yourself saying, “Rich people have a lot of people helping them to manage their money”?
Well, you are right, they do. From portfolio managers to insurance brokers to private wealth bankers…the list goes on for the average High Networth Individual.
One thing you may not know, though, is that they surrounded themselves with these people long before they became that rich. They may not have been able to afford to bring all these professionals to the same table at the beginning but they engaged with these individuals nonetheless.
In the journey to building wealth, who you surround yourself with matters. Who is on your team?
Maybe you do not have a lot of wealth yet. Maybe you do not have a portfolio, let alone need a manager for it.
But, how about on the home front? Who can you recruit to join you on this journey?
Your spouse? Your siblings? Your children? Which of your friends?
One rich woman in the midst of 5 poor women may soon become the 6th.
Again, since we intend to leave the wealth we are building to our children, the responsibility lies on us to prepare them for this wealth.
Which of your friends has to join you in your journey towards financial literacy?
With whom should you attend all these personal finance seminars and workshops you plan to attend?
Which of your children can be the Minister of Finance in your home this week – to go around collecting change from every member of the family to be put into the family kolo?
Which of your children gets the task to plan the family budget for one week or one month?
What financial literacy material will you allocate to your child to study and come share his/her findings with the entire family?
Our relationship with money many times is unconscious. We just pick them up from the people closest to us.
Let’s give our spouses, friends and children the opportunity to learn with us as we become better managers of money, shall we?