How Do You Know You Are Wealthy?

Wealth is not an important number unless your sights are set on being the wealthiest person in the world. All wealth is an individual number dependent on each unique individual and their lifestyle. So, rather than focusing on wealth as a number, think about whether your sources of income will sustain you. Of course, wealth can disappear, but investors will always depend on benefits earned from employer or government earned plans over time. You can preserve your wealth by figuring out how much you need to earn monthly by the time you are a certain age to sustain you or you and your spouse.

The best kind of wealth are the accounts you own and control until you die. You should always know the value of these accounts and the amount you can withdraw. Googins Advisors recommends 6% annually. Well-chosen investments grow at the rate, earn back the amount withdrawn, and increase to handle the ravages of inflation over time.

Googins Advisor’s record keeping will show you that’s happening.