Financial Planning and Wealth Management

Nigeria is among the third world nations.

This gradation is so based on the level of development and growth indexes emanating from the confines of the country. Recently, due to economic activities and government plans, the country is termed an emerging economy.

It is positive to note that in recent times, growing economic activities in the nation has started showing signs of producing a brand new sets of millionaires. Among them are educated and non educated, young and old, local and foreign, male and female, and most importantly those that are financially literate and illiterate. They are coming from virtually all diverse areas of businesses. Most vivid of them all are those in banking, oil and gas, sports, manufacturing, transportation, telecommunications, real estate and our darling entrepreneurs whom we call, buying and selling folk.

The numbers of these new sets of millionaires are bound to be expanding owing to the virgin nature of the country and the escalating demands of its over 140 million citizens and unknown number of aliens. Equally, worthy of note is the VISION 2020 proposed by the present president, President Umaru Musa Yar' Adua to place Nigeria among the top 20 economies of the world by that year.

As noble as the ideas are, and as all spanners are now at work to realize this vision, creation of more wealth poses more problems less than the eyes can see in terms of retaining the wealth so created. On this note stands the need for a financial planner in wealth management. This notion remains novel, yet it sounds quite strange as many of our citizenry both individuals and cooperate bodies may not understand its place in economic affairs. Mr. President saw it as a dire need thus, in his state visit to Switzerland earlier this year, he called on Nigerian business community living there to come home and give a helping hand to realizing this dream.

This service has been well established in developed countries and it accounts for the quantum leap in these nations wealth. It is not a chance occurrence to see empires abroad that has lasted for more than four decades and still counting. Among them, a word like PRIVATE WEALTH MANAGEMENT is quite a regular which denotes a specialized service rather than a generally offered service. According to Morgan Stanley a foreign financial service provider, "private wealth management" is a service reserved for clients with investments worth over $20 million.

Based on this reason, the importance of a financial planner cannot be over emphasized. He occupies a central position akin to that of a coach. In his team are bankers, lawyers, insurers, real estate brokers, stockbrokers et al.

Their duty depends on the originators instruction.

This duty separates them from other the traditional financial services practitioners. Thus for a beginner he can be a trusted friend and guide to reach a set financial destination. For those who have counted a few millions, this strategic plans multiplies your wealth, for those in the multi million arena, their expertise will sustain, safeguard and transfer your hard earned wealth to your desired recipients.

Cases abound of empires in multiples that have nose dived and disintegrated at the demise of their founders. Similarly, a person's individual law does offer one's wealth to unapproved persons. Also, probate taxes and mismanagement of wealth are not left out.

The sole work of a financial planner in wealth management is to use various wealth management options to protect the clients' wealth. When this is done the life span of wealth is protected and prolonged while a nation's wealth is buoyed.

Get a financial planner today!

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Your Wealth is Hidden in the Fragments of Your Life - The Survival Loop

The Survival Loop

Survivors ((((((((((((((((((((((((((((((((((( "Help" (((((((((((((((((((((((((((((((((((( Providers

Survivors )))))))))))))))))))))))))))))) Wealth Transfer ))))))))))))))))))))))))))))) Providers

We see here what goes on at the national level. "Help" flows from Provider to Survivor. Wealth flows over the years and decades from Survivor to Provider. Millions of Survivors have not realized that they could become their own insurance company for the lower end of their loss. They could take actual coverage for the higher end of their loss, but cover the lower end themselves and save the difference. The "loop" above is a survival loop for the Survivor, but is a wealth induction loop for the Provider. As it loops over the years and over the decades, wealth is transferred from the Survivor to the Provider. The loop induces wealth for the Provider. The Providers are insurance companies, finance companies, credit card banks, and all the other wonderful institutions and individuals who "help" the Survivor "survive" on his trip to nowhere.

And to think, we have not yet even looked at the impact of credit cards and other debt loads. If paying $34 a month for a lower deductible on car insurance causes a loss of over $1,250,000 over a lifetime, then paying $100 a month on credit card payments produces a loss of over $3,750,000 over a lifetime! Remember, to the one with the eagle perspective, the cost is not just $100 a month, but what that $100 a month would grow to if invested for 45 years from age 25 to age 70 in an aggressive manner.

If you do not believe the impact of the survival crutches is really this great, I invite you to simply drive near or through any major downtown area in North America and turn your head to look at the buildings. Most of the tallest, newest, and most impressive buildings you see are owned by the very "providers" who supply the survival crutches which you "rent." They do not call you during your supper to offer you a credit card or another of these survival crutches because they like you. They do it, as Machiavellian as this may sound, to transfer your wealth, whether bit by bit or boatload by boatload, from you to them.

If you are a typical American or a typical citizen of an industrialized nation with a vigorous western-style economy, your life right now is already a wealth induction loop. You either induce wealth for the "providers" or you induce wealth for you and your family. If you are just gliding along and running your life as a "survival loop", you are operating a wealth induction loop for the benefit of the "providers" to whom you are enslaved.

I estimate that the wealth transferred from a working class family is from $10 million to $20 million over a lifetime.

For a middle class family, I believe it is from $20 million to $30 million over a lifetime.

For an upper middle class family, I estimate that it ranges from $30 million to $40 million in a lifetime.

"Survivors" live their whole lives as unrealized millionaires because they do not realize that their wealth is hidden in the fragments of their lives.

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