June 15, 2022 Julie Hyslop

Creating Real Wealth

A young redhead boy is apple picking with his family in an orchard in autumn. He is smiling and giving an apple to his mother.

Income Solutions mission is to create wealth for our clients.
Wealth is the absence of financial worry, an income you don’t outlive, and a meaningful legacy to those whom you love.

Income Solutions MISSION STATEMENT

If you are healthy…. You are wealthy! And while this is a great sentiment and for any of us who have been experiencing illness recently it will certainly resonate. However, today we know that it is not as simple as this, as in recently quoted studies our health and wellbeing can be, up to a point, directly linked to our income https://www.incomesolutions.com.au/creating-wealth-that-creates-wellbeing/

We need money for our essential needs, and to participate in a community we need access to resources to make this possible, hence the creation of wealth in financial terms is required to fully embrace life in all its stages.

As it is Income Solutions core ‘Mission’ to create wealth for our clients, it is worth exploring the actual concept of wealth and how it might differ to simply being rich or having access to a high Income. The creation of wealth is working towards a sustainable income, as opposed to being rich and having access to money. Robert Kiyosaki, the author of ‘Rich Dad Poor Dad’ has encapsulated this concept very succinctly in the following quote:

“The rich have lots of money, but wealthy don’t worry about money”

In our Mission Statement we make clear that we view wealth as being the ‘absence of financial worry’ and in the above statement by Kiyosaki he states that the ‘wealthy don’t worry about money’. Core to this is that fact that wealthy people work towards obtaining a long-term sustainable income, live within their means and save and invest money in income producing assets such as an investment portfolio.

Creating real wealth usually involves avoiding debt for discretionary spending and instead borrowing less than you can afford to buy income producing assets.

A formula for achieving an ‘income that you don’t outline’ is described in a video Titled ‘Your Tree’ presented by Income Solutions founding Adviser David Ramsay https://vimeo.com/460822636 Using the analogy of an apple tree to describe an asset, he explains that the income your asset produces, the ‘apples’ it grows that you have access to picking will serve you better than ‘lopping off a branch’, and thus decreasing the size of your principal asset. Having an asset that generates an income without eating away at the principal ‘the tree’ will ensure your asset stays in tack not only throughout your lifespan but also as an asset for future generations, thus creating a meaningful legacy for those you love.

At Income Solutions we believe achieving wealth is achieving peace of mind https://www.incomesolutions.com.au/avoid-shattering-financial-outcomes/ A mind free from financial worry provides real wealth for our clients as they can then focus on what they care about most.

Referenced for this article:

https://moneysmart.gov.au/grow-your-super/how-much-super-you-need

https://www.incomesolutions.com.au/family-tree-research-providing-lessons-of-the-past/

    Book an Appointment

    Accessing Income Solutions Accounting is as easy as clicking to book an appointment and completing our simple online form.

    captcha

      Book an Appointment

      If you have any questions, or would like to book a free initial consultation, please enter your details, and any comments below.

        Get your webinar link

        Please complete the following form, and you will receive a confirmation e-mail containing your link.

          Apply Now:

          To apply please fill out the form below, and upload your resume.

            Book an Appointment

            If you have any questions, or would like to book a free initial consultation, please enter your details and any comments below.