Imagine this circle represents all the money you will ever have. Your circle is bigger than some, and others are bigger than yours. But there is one thing we all have in common when it comes to our circle of wealth and that is—we want it to grow.
Your circle of wealth consists of three types of money: accumulated money, lifestyle money, and transferred money. Accumulated money represents the dollars you already have saved and those you are currently saving. To increase accumulated money, the focus is usually on finding better investments that pay a higher return—often requiring you to assume more risk in the process.
Lifestyle money is what you spend to maintain your standard of living. In order to increase your wealth through lifestyle money, one naturally assumes they will have to cut back and give up some of the luxuries they currently enjoy—and nobody wants that. Unfortunately, the thought of having to give up today to have tomorrow can keep people from taking action but there is another alternative…
This brings us to the third type of money we call Transferred money. Transferred money consists of money you may be transferring from your Circle of Wealth unknowingly and unnecessarily through Mortgages, Taxes, Qualified Retirement Plans, College Planning and Major Expenses.
By far, the most common strategy used to increase one's circle of wealth is to go on a financial diet and find investments with higher returns. Our focus is to help you avoid the wealth transfers without you having to change your present lifestyle.
Unnecessary transfers represent money slipping through your fingers. Reducing wealth transfers can make a huge difference in your financial future and give you the ability to enjoy the financial life you desire both today and during retirement.
Circle OF Wealth: