Wealth Management for Me?
Do you sometimes look at advertisements by banks and other financial institutions and give a bit of a laugh when they are talking about ‘wealth management’? You mentally switch off because the feeling is that these types of products being advertised are meant for the rich. Well, it’s probably true that the rich will get richer if they allow a bank to handle their wealth in such a way that their money grows. Even a poor guy can see that money invested somewhere, in something will more than likely increase.
Rich or Poor
Do you actually have to be rich to wander into a bank, like banks, and ask them to get you started on a wealth management plan that best suits your long-term dreams and goals? Walking into an appointment and saying you have £5 probably won’t get you the attention you need but that’s an under exaggeration. Even the really rich people in the world started with nothing. Correction. Some rich folk inherited, so they don’t count.
Let’ say you’re an average person. You are paying a mortgage, own a car, you and your partner both work, have a couple of kids going to school and life is, at times, stressful, but generally, things are going okay. Your salary is adequate, and your partner’s salary is a bonus. There are savings each year for a holiday to somewhere nice. Looking into the future you hope to be able to afford to send the kids to university if they so choose, and a replacement car is needed in a couple of years. You will eventually be eligible for a pension and hope that you have put enough away for a rainy day. All cool.
Manage and Grow Your Wealth
Here’s the deal. If you want to change all this into an effective wealth management strategy, then you need professional advice. You need somebody best placed in a position that has their finger on the pulse of global money movement. You don’t have time to be investigating, reading and analysing financial news on a daily basis. So what’s better than handing your hard earned over to somebody who does?
At banks they have a number of strategies, plans, that will almost guarantee significant money growth over a length of time. The principle of compound interest growth is a beautiful thing to observe. Your Customer Relationship Manager can help you set up a portfolio that will allow your money to take full advantage of this wonderful principle. It’s the same one that makes multi-millionaires from millionaires.
You can choose from investment funds that are available in different currencies. That’s important because of the Financial Crisis of a few years ago showed us that nobody, no country is safe from such disasters. Your investments can be long term or short term. It’s a fact that over time, property investment always goes up as does the share market, albeit with a few hiccups at times. If your money is sitting in a bank doing very little in the way of growth, then some help with wealth management is a smart decision.