We all aspire to have financial stability and independence in life, but only a few truly reach this goal. This is because wealth building takes years of strategic financial planning as well as sustained investment and wealth creation efforts. At FBNQuest, we’re committed to helping our clients build and manage generational wealth through our excellent wealth advisory and management solutions. In this article, we will highlight the need for wealth planning and strategies you can leverage in wealth creation.
Investment and Wealth Creation
Wealth creation is a process of growing your assets and income by investing in a variety of financial products that can generate long-term returns and accumulate over the years to contribute substantially to your wealth. Investment and wealth creation involves a cyclical process that moves from earning money to saving it, then investing so you can earn more to reinvest.
Why Do You Need a Long-Term Investment and Wealth Creation Plan?
The first step in reaching investment and wealth creation goals is creating a long-term plan. This plan should outline an effective strategy for earning money, spreading out your investments and saving towards those future numbers. Here are specific benefits of having a clear-cut plan to reaching your wealth and financial goals:
- Enables you to save with structure and discipline
- Helps you map out a strategy for diversifying your income sources
- Strengthens various areas of your finances including insurance, spending & borrowing, etc.
What Should an Investment and Wealth Creation Plan Include?
Speaking with our wealth and investment management team at FBNQuest, we can help you develop a solid wealth-building and management plan. Some key things to include in your long-term plan are:
- Your financial goals
- Your current assets & financial situation
- Wealth diversification strategy
- Your investment preferences – including risk tolerance & returns expectations
- Long-term wealth & estate transfer plan
Tips for Making the Most of Your Investment and Wealth Creation Strategy
To create sustainable wealth that continues to grow steadily, it is important to keep your finances tidy, avoid unnecessary debt, and invest with strategy. Here are some tips to always keep in mind.
- Start your wealth-building plan early in life
- Master the discipline of sticking to your budget and saving regularly
- Have SMART Financial Goals for each year and every stage of your life
- Spread your investments across various asset classes to maximise your earnings
- Always have an emergency fund that is easily accessible or tied in liquid assets (e.g. fixed deposit).
Start your investment and wealth creation journey with FBNQuest. Our strong team of professionals have garnered years of experience in wealth and portfolio management and can help you reach your financial goals with customised wealth planning solutions that take into account your risk preferences, financial values and long-term wealth transfer plans.
Want to get started, request a call from a member of our team here by visiting fbnquest.com/merchant-bank/contact/#form.