Guest blog by Hadriana Leo
Channel your inner rock star with me to reframe how you look at wealth creation. Cue guitar, drums, hair, and hit it just like Joan Jett and the Blackhearts singing “I Love Rock and Roll.” Except that no one ever sings that tune when they talk about money.
We enjoy it when money is rolling in, but we don’t want the rocking.
Unfortunately, rocking and rolling seem to be inevitable at different times in the wealth-building cycle. So how does one get through all that turbulence with their sanity and profits intact? Here are five things to consider:
Play a long game
Your wealth journey is no overnight feat. Regardless of what you invest in (public markets, real estate, even entrepreneurship), there will be short-term rocky patches. Still, a well-positioned strategy will neutralize these patches over the long term. It will benefit you to position yourself for the long haul.
Be in the know
Knowing the lyrics to a great tune is fine but knowing how to create a smash hit is way better. Seek out knowledge and learn how to apply it. Get curious about different avenues to wealth, how they could work for you and whether it would be appropriate given your age and stage.
A wealth pro will help
Where your curiosity taps out, a professional can fill in the gaps. The average consumer may not have an appetite for the minutiae of strategic wealth creation. Still, a professional who is a good fit for you will help fill in the gaps and help minimize your portfolio’s rocking.
Anticipate and prepare
You can see it coming from a mile away. Not always but, if you’re paying attention, you can anticipate potential downturns and prepare a plan to ride it out. So the same wave that would bury someone less prepared could take you on the ride of your life.
The sky is not falling, not since the last time I checked. In the grand scheme of things, your rocky patch may cost you some money but aren’t there more important things you are experiencing in abundance? Yes, your wealth journey is essential but don’t let it rule your life.
So here we are, back to the rocking and rolling world of money, wealth building and legacy creation. We can all acknowledge that, for best results, everyone should have a plan for wealth creation in some form or other. I hope we can also agree that, regardless of the ups and downs of that journey, we’re in it to win it.
About the Author:
Hadriana Leo is a personal finance coach and holistic wealth strategist. She empowers women to be confident leaders in their families’ wealth journey. And, she inspires them to embrace extra-ordinary financial outcomes unapologetically. Hadriana encourages women to create legacy wealth strategies and move beyond managing the grocery money or balancing the chequebook. She guides them to do this their way, so their results reflect their priorities and dreams.