The Trek to Prosperity, Step by Step
We make the Prosperity Trek one step at a time. It’s a trek with new challenges and experiences as you take each step to:
- increase your income
- enjoy life
- eliminate debt
- control spending
- set up an emergency cash reserve
- set up an automated savings program
- build net worth
- enjoy pursuits that bring you happiness and fulfillment
- share with others through estate planning and charitable giving.
Now, not all of these steps are applicable to you. That’s where our prosperity quadrants come in. Your Prosperity Trek depends on your quadrant – whether you are in accumulation phase of life, whether your cash flow is positive, and other considerations that ensure that you are taking the steps to prosperity that objectives important for you.
The words gradual and graduate comes from the latin word for “step”. How fitting that your gradual transition to prosperity, and the triumphs throughout the adventure as you graduate and make progress, consists of “steps” – trekking steps on the Prosperity Trek.
We categorize trekking steps into six groups:
Earning Steps
These are steps to enhance your income. They include steps to look for opportunities to find happiness and fulfillment in what you do.
Spending Steps
These are steps to control spending. This includes budgeting and understanding some of the drivers that affect our spending decisions. Ideas for reducing costs are provided affecting transportation, housing, energy and many others. Information on useful internet resources are also provided. Spending steps is where we provide information to reduce debt. The Prosperity Trek aims for debt elimination (with the exception of your mortgage) and we incorporate debt reduction steps as appropriate.
Spending steps not only affect our cash flow but they also help us to protect net worth. For example, insurance premiums are an expense that affects our cash flow – but the insurance protects our wealth, our net worth. A successful Prosperity Trek depends on the protection of wealth through insurance.
Saving Steps
Saving steps are the key link between cash flow and net worth. We save from our cash flow and invest from our savings. So savings are very important. We believe the best approach is to have an automated savings program.
Savings also includes provisioning for an emergency store of funds. We provide information to help you address this important need.
Building Steps
Building net worth is where the Prosperity Trek rises from the foothills to the higher ground. We use investing strategies such as “asset allocation” and “rebalancing”. You may have heard these buzzwords before – but they are integral approach that needs to be applied to generate wealth. Building net worth relies on appropriate investment vehicles – that take into consideration the tax implications.
Enjoying Steps
So why bother with going on the Prosperity Trek if there isn’t some destination that makes it worthwhile? Sure, the trek itself is reason enough. But every trek has a destination and the Prosperity Trek is no exception. We start the Prosperity Trek with identifying goals that are important to you. We finish it with helping you use your prosperity to enjoy life – finding happiness and fulfillment is the destination. Whether it’s travel, retirement, pursuing a hobby or starting some new adventure.
Giving Steps
Prosperity is also about sharing with others. Estate planning to use strategies to share with your heirs in a manner that makes sense to you. Charitable giving so that you can best help causes and charities important to you.
Prosperity Concierge