Money Matters
But Why Does It Matter To You?
If you are seeing this, some part of you recognizes the importance of money.
Each of us may want money for different reasons, some offense, others defense.. but all of us want to build a war chest of resources to ensure our missions in life are accomplished and the people we care about are provided for.
WealthSystems.ai is dedicated to laying out a systemic approach to building wealth. The core of these wealth systems are planning, reconciliation and building wealth engines.
Planning requires understanding what your goals are. If you don’t have your life’s mission(s) all mapped out already, that’s OK. You are not alone. Most people have vague ideas of what their dreams are but no fine resolution around the details. Take time to really ask yourself:
what is important to you?
what subject(s) could you dedicate hours of your precious life to every day?
do you have any skills or abilities that could contribute to your goals?
what ultimately drives your passions and demands your interest the most?
Unless and until you find your HOLY SHIT mission, you won’t have the energy under you to carry you far. You won’t have the resilience to pick yourself up when life knocks you to the proverbial (sometimes literal) ground. Don’t chase after money for money’s sake or to go for the high score. I promise if you ground your goals in building prosperity for others, your wealth will rise faster than treating life like some solo adventure.
“Begin with the end in mind.”
Once you have your desired end state in mind, you can begin to work backwards. Break those big goals into smaller milestones. Not only are those smaller rocks easier to lift but moving them actively changes the “balance of power” into your favor. As you check the boxes on these milestones you will feel your success gravity building up, and true to form for gravity, it will pull bigger and better people into your life.
Reconciliation is the practice (key word!) of going through our financial statements and everywhere our money information lives and checking how reality “lived up” to the plan. This is a critical step that many people miss. They make amazing tactical plans and get so busy executing them, living their lives, that they fail to look backward on a scheduled basis and measure what matters.
Only through reconciling your savings plan vs your savings results can you course correct, or double down on things that are working well for you.
Only through reconciling your investments accounts can you cut losers and let winners have more resources to drive wealth building.
After reconciliation is established and you have a solid cadence in place… now we get to the fun part: building wealth engines.
Longtime readers have read about:
building service businesses that leverage AI, automation & robotics
Why multiple wealth engines? Mostly for speed & range purposes, but also for operating safety. Much safer flying on multi-engine aircraft.
Lot’s of ways to make money. Intelligently integrating these engines together into a holistic system that performs well is the grail. How you store your economic energy is another key.
Enter the biggest upgrade to money since we left the shell standard.
We’ve talked a ton about bitcoin, the only truly passive investment on the list. Bitcoin is also benefiting from the incredible rate of money creation and the anticipated consequences this will have for the fiat monetary system. Even collecting dividends comes with reinvestment decisions, preparing tax returns and other bandwidth + profit/tax friction that comes with money in motion.
Small friction goes unnoticed, doesn’t it?
$11.99 monthly subscription, the $220 tax bill on a trade you made 6-months ago, the 2% drop in the value of the USD over the last 6-months… but these small cuts add up to major blood loss. That’s why you must reconcile constantly and be ruthless with eliminating overhead.
Have you ever wondered how the famously and fabulously wealthy families manage to lose it all? We’ve all heard about the spectacular blow-ups but less popularized are these stories:
“We had a few generations born and suddenly the family had dozens and dozens of members, all with their own desires and expenses… and before we knew it, we needed to sell off parts of the company and some of the assets to pay bills… and now we don’t have a fortune. Most of the family doesn’t speak to each other.”
That’s how wealth is lost. Gradually, then suddenly.
That’s how it’s made too, thankfully!
Reach out to me and tell me about your wealth system, and what you are working on. I hope I can help.
Friends: in addition to the 17% discount for becoming annual paid members, we are excited to announce an additional 10% discount when paying with Bitcoin. Reach out to me, these discounts stack on top of each other!
👋 Thank you for reading Wealth Systems.
I want to learn what topics interest you, so connect with me on X.
…or you can find me on LNKD if that’s your deal.
I started Wealth Systems in 2023 to share the systems, technology, and mindsets that I encountered on Wall Street. I am a Wall St banker became ₿itcoin nerd, ML engineer & family office investor.
💡The BIG IDEA is share practical knowledge so we can each build and optimize our own wealth engines and combine them into a wealth system.
To help continue our growth please Like, Comment and Share this.
NOTE: The content provided on this blog is for informational purposes only and does not constitute financial, accounting, or legal advice. The author and the blog owner cannot guarantee the accuracy or completeness of the information presented and are not responsible for any errors or omissions or for the results obtained from the use of such information.
All information on this site is provided 'as is', with no guarantee of completeness, accuracy, timeliness, or of the results obtained from the use of this information, and without warranty of any kind, express or implied. The opinions expressed here are those of the author and do not necessarily reflect the views of the site or its associates.
Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise. Readers are advised to conduct their own independent research into individual stocks before making a purchase decision. In addition, investors are advised that past stock performance is no guarantee of future price appreciation.
The author is not a broker/dealer, not an investment advisor, and has no access to non-public information about publicly traded companies. This is not a place for the giving or receiving of financial advice, advice concerning investment decisions, or tax or legal advice. The author is not regulated by any financial authority.
By using this blog, you agree to hold the author and the blog owner harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries as a result of any investment decisions you make based on information provided on this site.
Please consult with a certified financial advisor before making any investment decisions.