Here at Alpha Omega Wealth, we are passionate about private wealth management, and we live by the Twelve Principles of Financial Prosperity. Over the next few weeks, we will be publishing blog posts, explaining what each principle means when it comes to the process of becoming your own banker. The first principle of financial prosperity we will discuss is simple: Think.
How does your financial planning brain work?
When it comes to private wealth management, your mindset is important to consider. Imagining your answers to the following questions will help guide you in determining what type of thinker you are: a scarcity thinker, or a prosperity thinker.
- Do you look at life with a glass-half-empty viewpoint?
- Do you fear that your next paycheck, your next business deal or your next bonus will be your last one? Do you fear that it will be the best one you’ll ever see?
If you answered “yes” to either of these questions, you may be a scarcity thinker, when our goal with infinite banking is to make you a prosperity thinker.
What does it mean to have a prosperity mindset?
Owning a prosperity mindset eliminates poverty, while scarcity thinking keeps you stuck. More value is actually lost due to wrong-thinking than to poor investment choice, timing and other factors. It’s not about portfolio makeup, timing, or risk. It’s all about the systematic methodology of putting the money “in” the financial vehicle of your choice, one that fulfills the requirements you have diligently considered and proven are right for you. The second part is working on never losing that money.
But most of all, it’s about how you think.
How Prosperity Thinking Works for Managing Wealth
I recently turned down the opportunity to invest in a real estate venture that penciled out a very attractive double-digit return over 5 or so years, which would actually triple my money. But here’s the thing: I am already blessed with a good income. I don’t need more money per se. What interests me even more is what I could do with money that will enhance relationships, build value for my family, create that larger-than-my-own-life “footprint” when I graduate from this shell.
I decided to place some money in a property that will create more “family and generational wealth” – relationship, tradition, and opportunity for more reunions, etc. I didn’t want to put my money into material wealth for the short and long run. (It may still create more material wealth but that’s not the main objective.)
I choose financial opportunity, from a holistic, “abundance” point of view, and one that looks for growth and improvement in all our lives: a win-win, if you will. It’s all about how you THINK.
Consult the Alpha Omega Team
If you are still wondering what is wealth management, our team or private wealth advisors are here to help. We want to teach you the principles of private wealth management so that you can be your own banker with confidence. Contact us today.