The Wealth Plan -part 2: Having your finances in order is about more than just feeling good; it's a necessity.

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THE WEALTH PLAN

LETTER TWO

Hello friend,
As we embark on this journey with 'The Wealth Plan,' let’s pause for a moment into what each newsletter will unveil.
Designed to empower your financial journey, our letters are tailored with a threefold purpose:

Section One:  To Enhance your Basic Financial Literacy,

Section Two: To Expand your Horizons with Advanced Financial Planning,

Section Three: To Ignite your Curiosity with Insights beyond Finance

Let's Dive in....

FINANCIAL LITERACY

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Having your finances in order is about more than just feeling good; it's a necessity.
Often, it's not until we face a financial crisis that we take action. Yet, the best strategy is to start early—remarkably early.
Consider this: initiating financial planning for your newborn within the first three months of their life can set the foundation for creating lasting wealth.
Why focus so early? Because finances are the means to realize our dreams: the ideal life for our children, our families, and ourselves. Our goals—be it education, travel, health investments, buying a home, or a vehicle—are attainable with the right financial planning.
Remember, money isn't the destination; it's the vehicle that drives us towards our dreams. So, let me ask, what are your aspirations for the next five, ten, or twenty years?
For a bit of inspiration, I'm assigning a simple task: jot down seven goals you wish to achieve.
I'm eager to hear them, and with your permission, I'll share these anonymously in our next issue. It's a way of showing that when we share our ambitions, we grow stronger together.
To kick things off, here are my seven goals: 1) Create generational wealth for my son
2) Ensure a comfortable retirement for myself and my husband
3) Provide the best education for my son
4) Prioritize the highest quality food and health practices for my family (next up: an infrared sauna)
5) Reinvest in my business
6) Explore the world with my family, aiming for multiple trips annually
7) Take a sabbatical year to travel the globe with my loved ones.
What are yours?

ADVANCED FINANCIAL PLANNING 

When it comes to financial planning, it is highly recommended that you invest time in creating an Investment Policy Statement. And if you already have a Financial Advisor who has not made you workk on one, ask for it! You will thank me later.

The Investment Policy Statement (IPS) is a crucial document that outlines the investment guidelines, goals, and objectives of an individual or an organization. It is a comprehensive
document that helps investors, their advisors and future generations make informed decisions about their investments. Imagine how easy it will be to guarantee the smooth transition of your
wealth management in case of a change of an advisor or during the eventual generational transition. As an entreprenuer, you probably have many operational manuals to run successfully
your business. Do not leave the management of your wealth without one!

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Get my Investment Policy Statement Checklist and Framework here

BEYOND FINANCE

 

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Learn more about the blu zones

Do you know what a Blue Zone is?

Have you ever heard of Baunei (Sardegna, Italy), Ikaria (Greece), Okinawa (Japan), Nicoya (Costa Rica) and Loma Linda (USA)?

What do these places have in common?

They have the highest concentration of people liveing above 100 years old.

On the map, these geographical areas do not have anything in common. However, when you study their culture, they all have similar healthy habits that set them apart. In particular, they share four important factors: 

  1. They value community and stay socially connected (research shows that strong social support offers benefits to both mental and physical health)
  2. They cook wholesome meals filled with vibrant vegetables and fruit ( research shows that their members follow a nearly 95% plant-based diet
  3. They are always moving by  including regular low-intensity activity, like walking and swimming, as part of their normal everyday lives
  4. They often sleep 8 to 10 hours a night and sometimes break in the afternoon for a nap

With_anticipation

Past Newsletters

Letter One

© Copyright, 2024,Elisabetta Basilico,@thewealthmamma

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