wow-6_wealth

1. Wealth Healthiness
We believe that if someone who has not done any wealth management exercise or any financial planning of any sort, it is always advisable to start from the very beginning. Wealth Healthiness is all about checking the health status of your finances. It is the most vital part of any wealth exercise to begin with.

2. Wealth Creation
Upon determining that your Wealth Healthiness is good. One may start looking at Wealth Creation. It is more than just "go get a job" or "let's get a better paid job". It is about looking into all alternatives and solutions to maximise one's ability to produce wealth.

3. Wealth Accumulation
Upon achieving Wealth Creation. One may then seek the next phase in Wealth Accumulation. Wealth Accumulation is a more long-term strategy and needs careful planning and proper execution as well as thorough monitoring. That is because, since it is a long-term plan, things may change over time and as such we need to take into these changes in order to re-strategise or re-plan if and when needed.

4. Wealth Protection
It is then a common step to protect one's wealth and the one that creates the wealth. It is the next logical step. Some may even want to protect the wealth creator even before he or she creates wealth.

5. Wealth Preservation
For those who have already had their fair share of creating and accumulating wealth, they may have a different issue now. They may be looking at preserving some of their wealth.

6. Wealth Distribution
When you reach this stage, you are probably at the tail end of life enjoying your wealth and are looking into who you want to enjoy your wealth which you have created during your lifetime. This is a major consulting stage as this will be your wishes as to what is to be done to your already created wealth.

The Wheel Of Wealth is a very interesting learning concept on Wealth. To know more, please click here.