To strategically, systematically, and effectively grow wealth:
Have clear written financial goals.
Create a plan for wealth (and freedom) independent of business.
Invest the time, energy, and money to cultivate significant advantages in at least one profitable wealth vehicle.
Have specific clearly articulated strategies that apply to each current stage of wealth building.
Invest for passive residual income.
To safely invest (one’s entire net worth) with minimum risk and effort:
Have a clear written investment philosophy.
Have a clear written statement of ideal asset allocation.
Have clear written investment criteria to use as a filtering system when evaluating investment deals.
Complete due diligence to wisely shepherd and safeguard wealth.
At least twice each year:
Review actual asset allocation against ideal to continually make intelligent portfolio adjustments.
Benchmark investment portfolio and track performance against appropriate passive market benchmarks.
Undergo a written asset audit to look for ways to enhance investment returns with the same or less risk.
Complete a comprehensive analysis of investment performance, lifestyle cost, and tax strategy effectiveness.
Proactively plan, review, and revise tax and asset protection strategies (with professional advisers).
© 2014, Oren Pardes. All rights reserved.