What is wealth?
Wealth is many things. It is much more than just money. Wealth depends on what your values are, what your interests are, where you want your life to go and what kind of life you want to provide for your family. The more income you have or the more financial net worth you have, the more you have available for a comfortable family life.
What is lifestyle independence?
Lifestyle independence is often described as the freedom to live your life the way you want without having to be overly reliant on outside support. This covers all aspects of your life including your financial, mental and physical health as well as your social life, family, recreation and hobbies. It is about the time you spend on what is important and meaningful to you and who you spend it with; the discretion to spend your time in whatever way is most appealing to you.
What does it all mean (why does it matter)?
Within our business context, we refer to wealth as the state of having abundance and sufficiency of money; material prosperity to have a financially comfortable life. Financial success doesn’t guarantee happiness but it provides a kind of freedom; being able to be financially free to do the things you love, to live the way you want to live; having the financial freedom to contribute to the things that you want to contribute. Wealth also depicts and extends both access and opportunity. It provides a standard for both the quality and quantity of your life decisions.
Wealth mutes the late-night worries that nag many parents. It gives them some peace of mind that they are going to have sufficient resources next year, 5 years, 10 years and in future retirement years. It frees your mind from the worries about those daily financial stresses and relieves you from the frustration caused by money aggravation.
Wealth covers the necessities of life. It covers the responsibility and wholeness of families. It also puts you in a position to give, to contribute and make a difference in the community and our society. Wealth is about having more security and giving more to those you love. Wealth is experiences and time to do the things you want to do. You own your time and you have choices and options in prioritizing your important do-list activities.
If you’re a wealthy person, you are already rich in body. If you have your health, you can accomplish pretty much anything if you get into the right mindset.
How does one achieve lifestyle independence?
We believe that wealth building isn’t just for the wealthy. Wealth building is how all those who seek lifestyle independence will achieve it. Very few important positive outcomes in life come by chance. It is through purposeful action and disciplined behaviour that human beings are able to rise above the clouds in order to reach new heights. Opportunities will find you, but will you be prepared to pursue them when the window of opportunity presents itself?
Spending and taking care of money is a skill - not everybody has that skill. The power of money is how to take care of it, how it impacts you, your family and the meaning to your future life.
In order to be the best version of ourselves and to provide the best for those we care for, we need to plan and prepare ourselves with the intention to achieve our goals. Focus is a key component of this. Losing sight of the goal posts or having no specific goals at all can be disastrous for those who wish to succeed along the path of self actualization (the fulfillment of one’s full personal potential).
There are many different paths to self actualization but all of them will require some level of discipline and commitment. Every professional athlete in the world knows this without exception. Developing discipline and fully committing to something is not easy for everyone to do. Even professional athletes rely on their coaches and mentors to help instill their discipline and keep them committed to achieving their goals.
Wealth is no different and we believe Financial Advisors are important to help fulfill the coach’s role on your path to success. Let the experts at Keybase help you.
Everyone has an opinion about money and investments; not everyone has expertise.
At Keybase, we stress the importance of sound financial decision making and disciplined savings habits. Pay yourself first. If you don’t put aside a set percentage of your earnings in some form of investment for the future, who will?
Take charge of your bright wealth building future. Take time to start the conversation.
Keybase Financial Group Inc. is a member of the Mutual Fund Dealers Association of Canada and the MFDA Investor Protection Corporation (the "IPC"). Keybase is registered with all provincial securities commissions for the exclusive sale of mutual funds and exempt market products, such as: Principal Protected Notes, Alternative Strategies Funds and Hedge Funds.