Holistic wealth is looking at riches beyond just money, however, it is hardest to identify holistic wealth when you feel like you don’t have enough money. It takes an extra mental effort to effectively visualize comprehensive wealth in this condition.
Tony Zorc lists the top 4 mistakes people make when building holistic wealth:
Greenlight Capital Full Q2 2021 Letter: Einhorn Thinks Inflation Is Here To Stay
David Einhorn’s Greenlight Capital returned -2.9% in the second quarter of 2021 compared to 8.5% for the S&P 500. According to a copy of the fund’s letter, which ValueWalk has reviewed, longs contributed 5.2% in the quarter while short positions detracted 4.6%. Q2 2021 hedge fund letters, conferences and more Macro positions detracted 3.3% from Read More
Passing Over A Free Opportunity
It’s remarkable how often people will pass over a free wealth-building opportunity just because they are not focused on it at that specific time. This happens to a person if they haven’t properly identified the riches they want to accumulate and therefore don’t recognize a free gift.
Trading More Money For A Net Decrease In Holistic Wealth
It’s all too often that we take a new financially rewarding opportunity for a small gain, but lose out on several other forms of holistic wealth as a result. Risks are required to get rewards, but all forms of wealth should be reviewed carefully along with the option to take more money.
Ceasing Wealth Building When Hitting A Roadblock
Building wealth and reaping a return on investment takes time. It might be the case that you need to let an investment grow, or wait a little longer for things to change to get a promotion. However, you do NOT need to stop building wealth. If you hit a roadblock in building wealth in one area, you can switch your efforts into another area. You are ultimately in control of building your own wealth, and you never need to stop.
We Become Unbalanced In Our Wealth Building Allocation
We often place too much focus on one area of life, such as a career or maybe a particular relationship at the expense of everything else. It’s important to recognize that it is impossible to grow evenly in wealth in all areas simultaneously. Be mindful that you may need to circle back and manage your other riches, or watch them wither away.
About the Author
Tony Zorc is the author of Iconoclasm: A Survival Guide In The Post-Pandemic Economy. He is a tech entrepreneur and founder of Accounting Seed. Zorc designed a flexible technology as an accounting software solution and his vision became the platform for his international company, which has sold over 15,000 licenses to customers in numerous industries. In 2018, Accounting Seed was named among CFO Tech Outlook’s Top 10 Accounting Solutions Providers. A graduate of Hope College, Zorc was the Illinois High School Gymnastics Coaches Association senior gymnast of the year in 1992 and a state champion.