Saving vs Investing – How to Invest Like the Wealthy

Saving vs Investing – How to Invest Like the Wealthy


(upbeat music) – Have you ever wondered how did the ultra wealthy
build their wealth? If you’re like most of our
audience at The Money Advantage you want to carve out this
place for yourself in the world and create a life and
business that you love. We’re focused on helping
you with strategies to model what the successful are doing, and we really love to be able to give you this bird’s eye view or this sneak peak into the lives of those who’ve created this type of lifestyle that
you are looking to build in your own life. Now, we talked with Richard C. Wilson who runs the Family Office Club, and he helps families who
are ultra high net worth be able to develop a suite
of financial providers that will holistically serve that family. Now, just for a point of reference, a single Family Office
is a financial suite that serves only one family and this usually requires
a threshold of 30 million and more net worth in
that family just to start. So when we’re talking
about ultra high net worth we’re talking about people who are multi millionaires
and billionaires. What we wanted to find out are what are some of the strategies that the wealthy are employing
in their financial life and how can we model
that in our investing. One of the key things that
came out in this conversation is that we know the
wealthy are not investing like the status quo, they’re not using common ordinary strategies that we see on a day to day basis. Instead, they’re focused specifically on what they know and control. They have their investor
identity mapped out, they know their mission, their purpose, their vision and their values. They know specifically what
industries they’re looking for. They know specifically what
niche within that industry, and they are looking
to become a gatekeeper or a titan in their industry. So whether it’s specifically
investing in hospitals or investing specifically
in airport machinery, those businesses have
created and built wealth and are continuing to build wealth. One of the things that’s
unique and different as well is that they’re maintaining
this position of cash. They value having the liquidity to be able to jump into
opportunities quickly. Another thing is that they’re
more versed in saying “No” than they are in saying “Yes.” Instead of painting
with broad brushstrokes that they can invest in anything, they’re focused on specifically
what the criteria are for the investment that
is exactly the match for what they are looking for. They also have a different
view of retirement and about 80% would say they’re
really not looking to retire in the typical way. They might have no more need for anything. They have everything taken
care of in their financial life and everything that they
could possibly want, but now they’re focused
on what really they love, what makes them come alive and where they can add
their own unique value to the investment and
continue to help it grow. Now these people are really enjoying life and enjoying what they do. So how can we model that in our life? We can get really clear and specific on our investor identity,
build this position of cash and have capital available and then focus our investing strategy. Instead of diversifying, instead of just putting
it into mutual funds and hoping that the stocks that
we’ve invested in will grow, really focus on having investments that you know and control. Focus on building your knowledge
within a specific industry, and again, many of the ultra
wealthy built their wealth through businesses and real estate. I hope that’s helpful for you today. Now if you may not be ready to implement a Family
Office in your own life, there’s great news. At The Money Advantage we have developed a Family Office model
to be able to serve you. We are helping you to
look at your tax strategy and make sure that maps onto
your legal planning strategy for your family, your
estate, your asset protection and your business, to make
sure that you’re keeping and controlling as much of
your wealth as possible, that you’re maintaining this liquidity, that you’re focused on growing cash flow so that you can get to a
position of financial freedom, not just hopefully maybe making it, but truly becoming successful. So I hope that you’ll reach
out to us for a consultation and ask us to help you keep
in control more of your money so that you can be on
that path to growing, to become ultra wealthy yourself. Use these techniques, employ
them in your own life, and I also highly recommend
that you grab this podcast. It was full of useful tips
and wisdom and resources that you can use in your own life today. Thank you. Hey, thanks for watching. I really hope you liked this video. If you did, click the link
in the description box below for more information. Like this video, share your comments, questions and feedback
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