Dreams Cost Nothing

Implementation Gets Expensive

 

WEALTH MANAGEMENT


I have been involved in the wealth management industry for over 40 years. I have seen wealth managed poorly, creating a sense of entitlement in children, which can lead to disastrous outcomes for the beneficiaries, and I have seen wealth managed well, creating a sense of responsibility in children, producing wonderful opportunities for families.


Managing your wealth wisely begins with the decision to learn the basics of wealth management, to establish your “achievable” dreams, and then create plans to achieve those dreams. This process requires knowledge, wisdom, discipline, and hard work.


There are three phases in wealth management. We acquire it; we manage it; and ultimately we give it away. While each is unique, the underlying principles apply to all three stages.


The essays that follow cover a range of topics including common mistakes, the importance of controlling the process, and the role that the generational transfer of wealth plays. Acquiring and managing our wealth is for the most part all about us; giving away our wealth is all about others.


        When we leave just money, we help the next generation meet a need; when we leave our values, we help the next generation

        accomplish their goals; but when we leave some money and our values, we help the next generation achieve their dreams.


                                                                                                                                                    Robert Livingston


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ESSAYS WRITTEN



Take Control of Your Finances

Do you find in control of your financial affairs?


Many people have never been properly taught the skills needed to manage their financial affairs. They need to begin the process with learning some basic fundamentals and committing to two simple plans - prepare a budget and start a savings plan.


       By starting with a simple goal, creating a simple plan, you will begin to understand the basics of wealth management.


                                                                                                                                               Robert Livingston

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Acquiring Your Wealth to Fulfill Your Dreams

Do you have trouble acquiring wealth?


The first step in acquiring wealth is to recognize the common mistakes we make - a lack of responsibility, knowledge, and vision. We overcome these common challenges by creating the proper plans - preparing a budget and starting a savings plan. We are now taking the first step to Freedom 65.


        Acquiring one’s wealth is a decision, accompanied by a plan, implemented with discipline, and nurtured with patience - and it takes

        time - it is that simple.

                                                                                                                                                  Robert Livingston

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Managing Your Wealth to Fulfill Your Dreams

Not sure how to manage the wealth you have acquired through hard work, an inheritance, or a lottery windfall?


The first step in managing your wealth is to recognize the common mistakes we make - a lack of responsibility, knowledge, and vision. Once we  have made the decision to take control of the process, we must select the appropriate investment model to manage our wealth, recognizing our choice will involve risks.


        A goal without a plan will remain but a dream.

 

                                                                                                                                              Robert Livingston

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Giving Away Your Wealth to Fulfill Your Dreams

Are you at the stage in your life where you are beginning to think about how to leave your wealth once you are gone?


This essay discusses why our values are the greatest gift we can leave our children and the community we live in. To transfer both our values and our wealth successfully requires creating the right plans, accompanied by discipline and patience.


       It usually takes little time and effort to leave your money. It usually takes little money, but a lot of time and effort to leave your values.


                                                                                                                                               Robert Livingston

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Dreams Cost Nothing

What are your dreams?


My dream is our family will become responsible citizens of the world we live in. By doing so, they will achieve a happy and fulfilling life and help make the world a better place.


The intergenerational transfer of wealth plays a key part in achieving my dream.


        Dreams cost nothing. Implementation gets expensive.


                                                                                                                                            Robert Livingston   

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