Wealth Management Strategies

My long term strategy for wealth management is built around the fact that life is temporary.

If the doctor told you that you had only 7 days to live, your priorities would change. This shift would likely take place in mere moments and would require very little thought.

This is not a metaphor. This is real. In light of history, you are here on this earth for mere moments. The way you govern yourself, including the management of money, should reflect this real and present truth. Soon you will be gone.

Think of your life like a tent. It is not a permanent dwelling.

The tent has four P.E.G.S.

Protect your capital.

Enjoy your money.

Grow your wealth.

Serve the greater good.

Throughout your life and career, the priority may shift from one peg to another, then back again, so don't think of the pegs in that order.

These four priorities of wealth management are frequently in tension.

There is tension between the need to GROW your capital and the need to PROTECT your capital, because growth requires a measure of risk. That risk puts your goal of protection in jeopardy.

There is tension between the desire to ENJOY your money and the motivation to SERVE others with it. Sometimes you can do both at the same time, but the money you give to others will always prevent you from enjoying those same dollars. You might find joy in the act of giving, but that is something else.

  • Protect your capital
  • Enjoy the journey
  • Grow your wealth
  • Serve the greater good