Wealth Management Essentials to Know

Our wealth management clients have taught us that more money will NOT improve your life if you: 🧑💻 Feel controlled by your job (which you might have chosen due to a very high-value comp package). 🏃 Use "spending money" as a way to escape difficult emotions, instead of dealing with the underlying problem. 🥅 Avoid defining what "enough" looks like, constantly moving the goalposts by which you measure your progress and your life. 😤 Blame others for bad outcomes rather than taking accountability or responsibility⁠. What can help instead? Here are the patterns we see among our happiest AND wealthiest clients: 💰 Savings is the priority Your power to grow wealth largely lies within your ability and choices to contribute sufficient amounts to long-term investment vehicles. ✔️ Spending is under control The less income you MUST earn to sustain your lifestyle, the more flexibility you can enjoy right now (rather than "someday") 💡 Self-awareness is on high Learn to honestly acknowledge how you feel. This might mean going to therapy; it might mean setting a daily reminder on your phone to check in with how you're feeling in the moment (name the feeling, validate it, and give yourself permission to actually feel it). 🎯 Goals are based on core values How you use your money should actually align with what you say is most important to you. If things are out of whack, it's time to evaluate your financial habits and reconsider your priorities. You don't want to make it to the top only to realize that wasn't the ladder you meant to climb. 💪 Feel a sense of agency Something truly may not be your fault. But if it's happening in your life, then it's your responsibility to do something about it. See it as a privilege that you get to CHOOSE your next move and how you respond. It's a powerful shift!

What sets the financially successful apart from the rest? It's not just about having money; it's about how they think and what they do differently. Here are ten insights straight from the wealthy that can make all the difference: 1. Time is more valuable than money: Rich folks get that time is priceless. They invest in experiences and personal growth, knowing those moments are irreplaceable. 2. Investing in education and personal development pays off: They’re always learning. They know that staying ahead means constantly upgrading their skills and knowledge. 3. Building multiple streams of income is essential: They don’t put all their eggs in one basket. Multiple income sources mean they’re secure and ready for anything. 4. Networking and relationships are key: Connections matter. They build strong networks for support, mentorship, and new opportunities, both personally and professionally. 5. Financial discipline and budgeting lead to wealth: They’re smart with their money. Budgeting, saving, and investing wisely are second nature to them. 6. Taking calculated risks is necessary for growth: They’re not afraid to take risks, but they do it smartly. They weigh the potential rewards against the risks and go for it when it makes sense. 7. Value creation over time yields sustainable success: They focus on delivering real value. Whether it’s through their business or personal efforts, they know making a meaningful impact leads to lasting success. 8. Adapting to change is crucial: Change doesn’t scare them. They stay agile, using new technologies and trends to stay ahead and keep growing. 9. Giving back is fulfilling: They find joy in giving back. Philanthropy and helping others isn’t just nice; it’s a big part of their fulfillment and legacy. 10. Mindset and attitude determine success: Their mindset is everything. Positive thinking, resilience, and determination drive them to overcome obstacles and reach their goals. These aren’t just secrets-----they’re habits and attitudes that anyone can adopt. It’s about changing the way you think and act to create not just wealth, but a rich and fulfilling life. Let’s take these insights and make them our own!

I watched a family lose $500K in 18 months. Now the family doesn’t speak. The money vanished in legal fees, tax mistakes, and tension. The worst part? It was completely avoidable. 90% of families lose their wealth within 3 generations. Not because they didn’t invest well—because they didn’t prepare well. The ones who beat the odds? They follow a different playbook 👇 It’s not about chasing higher returns. It’s about building a better system. Here are 7 things I’ve seen successful families do differently: 1. Strong family governance → Financial decisions aren’t left to chance. There’s a shared code. → When tension shows up, principles guide the path forward. 2. Effective succession planning → They don’t wait for a funeral to plan the future. → The next generation is brought in early and given real responsibility. 3. Financial education → Their kids don’t just inherit wealth. They inherit fluency. → Everyone understands what the money means and what it makes possible. 4. Professional management → Love doesn’t manage taxes, trusts, or portfolios. → They bring in experts to protect the family from emotional decisions and blind spots. 5. Legal structures → They don’t assume things will just work out. → Wills, trusts, and protections are in place before they’re needed. 6. Shared values and purpose → Money is just a tool. Purpose is the compass. → They align on why the wealth matters before deciding what to do with it. 7. Regular communication → Silence creates fractures. → Honest conversations, family meetings, and check-ins are the norm. I’ve seen what happens when families ignore these. And I’ve seen what’s possible when they don’t. Money without alignment creates friction. And friction spends faster than it compounds. Which of these is missing from your family’s playbook? ♻️ Repost to help others build legacy on purpose 🔔 Follow Nick Lalonde, CFP® for multigenerational wealth strategies that actually work

'Doing well with money has a little to do with how smart you are' ― Morgan Housel, The Psychology of Money. 🖐️ My 5 key takeaways from the book: 1. 𝗪𝗲𝗮𝗹𝘁𝗵 𝗜𝘀 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂 𝗗𝗼𝗻’𝘁 𝗦𝗲𝗲 ↳ Money spent on materialistic possessions is money that isn’t accumulating wealth. True wealth is the assets you don’t see, not the flashy items you do. ↳ Tip: Prioritize investing and saving over spending to build long-term wealth. 2. 𝗦𝗮𝘃𝗲 𝘁𝗼 𝗚𝗮𝗶𝗻 𝗙𝗿𝗲𝗲𝗱𝗼𝗺 ↳ Saving is not just about having funds for emergencies; it’s about gaining the financial freedom to make choices that make you happy. ↳ Tip: Establish automatic savings plans to build financial freedom without thinking about it daily. 3. 𝗟𝗲𝘀𝘀 𝗘𝗴𝗼, 𝗠𝗼𝗿𝗲 𝗪𝗲𝗮𝗹𝘁𝗵 ↳ Your savings rate is far more important than your income or investment returns. High earnings don’t always lead to wealth if spending is high too. ↳ Tip: Keep your living expenses moderate, even as your income grows. 4. 𝗖𝗼𝗺𝗽𝗼𝘂𝗻𝗱𝗶𝗻𝗴 𝗜𝘀 𝗠𝗮𝗴𝗶𝗰 ↳ Compounding creates the gap between people who are just getting by and those who get wealthy. It works wonders over many decades. ↳ Tip: Start investing early, even small amounts, to take advantage of compounding over time. 5. 𝗖𝗼𝗻𝘁𝗿𝗼𝗹 𝗪𝗵𝗮𝘁 𝗬𝗼𝘂 𝗖𝗮𝗻 ↳ You can’t control the economy or the stock market, but you can control your savings rate and your reactions to market movements. ↳ Tip: Focus on consistent, long-term strategies instead of reacting to market fluctuations. Wealth isn't about having a high income. It's about managing your money in a way that brings you financial peace and freedom. What's your approach to building wealth for long-term financial peace? #cocreate #financialfreedom #investment #moneymanagement #personalfinance #wealthmanagement ___ Found this helpful? Help others by sharing it 📤. Follow me Marco Franzoni for similar insights!

You built the business. But is it building long-term wealth for you? Here’s what most founders overlook until it’s too late: 1. Your business is an asset; treat it like one ↳ If you stopped working tomorrow, would your wealth stay safe? 2. Revenue ≠ wealth ↳ Net profit, personal security, and freedom matter more than a big top line. 3. Wealth lives in three buckets ↳ Personal (savings), Business (value + cash flow), Legacy (succession plans). 4. Don’t go all-in on one basket ↳ If 90% of your net worth is in the business bucket, it’s time to diversify fast. 5. Exiting isn’t a moment; it’s a strategy ↳ Plan ahead. Passive income buys you options and peace of mind. 6. Protect your key people ↳ Incentivize retention with tools like golden handcuffs; they hold the company together. 7. Talk to your family ↳ Clarity now avoids chaos later. Set shared expectations and write the plan down. 8. Start with one move ↳ Wealth doesn’t build itself. What decision are you avoiding? Freedom doesn’t come from hustle. It comes from building beyond your business. What’s your next step toward lasting wealth? Follow Brad Connors  for more insights!