The Four Core Ingredients of Wealth

8 comments

As a juicy life adventurer like me, I’m pretty sure you too love food and sumptuous eating. 

Have you also found that the world of culinary delights seems to get more complicated by the day? I’m not just talking about Heston Blumenthal and us needing to have PHD’s in chemistry just to make a chocolate mousse.  Look at the flavors – there used to be the simple four – salty, sweet, bitter and sour – straight forward enough. Now we’ve got umami! Can someone please give me a simple description of what the hell umami actually is?

Fortunately, things in the world of money and cooking up a wealth feast are still very simple with just four basic flavor groups.

Like in cooking – with or without the smoke – you need to understand these different flavor ingredient groups, be able to tell them apart, know what they taste like and how they work together so you know which to use and in what quantity to create a specific outcome.

That is what this video is all about, teaching you the four core ingredients of wealth. Knowing these flavors is absolutely vital, so please make sure you grasp them fully by watching the video now…

 

Did you enjoy meeting the stars of your wealth cooking show?

  • Assets
  • Liabilities
  • Income
  • Expenditure

There are other videos that teach you more about each ingredient group as you will discover not all expenses, income, assets and liabilities are created the same and understanding the nuances within the ingredient groups is very important too.

Also go and watch the video on Money Flows which explains more in the relationship between these four ingredients.

Please also leave me a comment under this post letting me know:

“Which of these ingredients do you have too much of in your wealth pantry and which do you believe you have too little of?”

Also – if you had an aha about the ingredients of wealth as you watched this video please share that too as thousands of Wealth Chef’s in the making come here each week for juicy wealth snacks, insight and inspiration as they create their juicy financially free lives too. Your ideas and shares may trigger someone to have a big breakthrough.

Thanks as always for reading, watching and sharing so generously and for choosing to master this key ingredient money and live your un-limited life.

Big love

TWC_Ann_Signature_spaced

 

 

 

 

 

Let’s get you started on your wealth journey >>> et_blog_rectangle_720

 

 

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8 Comments

  • Maggie Moropane says:

    Hello Ann, I am Maggie from Pretoria, South Africa. I registered with PIMMS at the end of August and also enrolled for the Kickstarter programme and the 30 Day money challenge. I am following the programs and must thank you a great deal for the enormous and vital information I am learning daily thus far. I managed to create my Income statement and Balance sheet and realized that I am in the negative and still far away from being at 0 and to start growing in the positive trend. I also realized that my money-flow pattern have been that of a TV-Dinner cook and that I know nothing about ASSETS that should grow my wealth through compounding but that compounding has all along been working against me since my LIABILITY drawer has always been the biggest. I immediately stared with the JFDI program and already almost resolve my overdraft debt but still have to go some few months before I totally blitz it all and am definitely reducing on my spending.

    My BIG WORRY and FRUSTRATION! – I am currently 62 yrs old and will be retiring in 3 years ( end of 2022), will I ever make it?

    As a TV-Dinner cook, I have RA’s with Liberty, Sanlam and Old Mutual, but as you’ve put it, I do not have a clue what they entail or hold for me. I intend to open an online broker account and start investing in Index Trackers this September month but really need your help with this because the idea of different wealth pots you talk about still confuse me. See I have 2 bank accounts, a cheque account where I do all my bank transactions and a savings account for emergencies, so the idea of a Discretionary account/pot confuses me as I am not sure if it is equivalent to the cheque account I am having or not.

    I am not sure if it is possible to open an etf account and start investing monthly 2 500 or more for the coming 3-5 yrs and in December open a Unit Trust account with a lump sum of 33 000 and do the same every December for the coming 3-5 yrs – PLEASE ADVISE!

    • Ann Wilson says:

      Darling Maggie, huge congratulations for taking the massive steps yu already have takem. Congratilate yourself and own how brave you are for having already done what you’ve done.

      Now to the next steps, connect in the private face book group just for PIMMS peeps where you can ask your questions and gets more support as well as the monthly Q&A calls you get with me.

      Regarding your questions about a discretionary account, don’t confuse your bank accounts with your online broker accounts. The are completely different things. GO back to module 2 of PIMMS to understand what it is. A discretionary account, also called a dealing account or trading account on your online broker platform just means it is a straight forward investing account without any tax benefits like a retirement account or a tax free account.

  • Claire Thorne says:

    Liabilities and Expenses need to be closely looked at. I have made a decision to increase assets – e.g. Property and Business, but because these have just started, my income is not as much as it should be so I am finding it a bit difficult to buy into my juicy life right now. I have realized that perhaps I should find a day job to bring in more income to service my assets. It appears that I might have left my day job a bit too soon, instead of first seeing the Assets grow to a point, for me it was premature. Not sure if anyone else has experienced this?

  • Tobie Heymann says:

    i need more Assets for a bigger income

  • Susan says:

    Liabilities – no assets lots of debts – need to learn how to grow assets

  • THUMEKA MTSHIZA says:

    I have always believed that income is the most important ingredient to financial freedom but I am glad I watched this video it has changed my perception thank you.

  • magaret says:

    Liabilities

  • Zanele says:

    Income is not enough and liabilities are more than income.

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