Private Wealth Management Chartered Tax Accountant and Financial Planner Nearby

We all have an image in our minds of what the truly rich person looks like, but we probably have it wrong, says leading wealth and financial expert Len Elias of TLK Partners Chartered Accountants.

Kingsgrove, Australia - November 9, 2018 /NewsNetwork/ —

Wealth Management Specialist Says the Truly Rich Will Shock You

We all have an image in our minds of what the truly rich person looks like, but we probably have it wrong, says Len Elias of TLK Partners. His company specialises in holistic wealth management that ranges through everything from accounting to investment and he says he has an inside track on the truly wealthy and what their lifestyles look like.

The Shocking Lives of the Truly Rich

Picture an unashamedly middle-class-home. The car is serviceable and relatively new, but not flashy. The family looks neat and well-cared-for but isn’t sporting the latest brands in designer-wear. As for the home’s interior, there are more likely to be pets than Picassos. This is how most of Australia’s truly wealthy people live.

“I work with a lot of high-value individuals,” says Elias, “and most of them are people you wouldn’t look at twice if you saw them on the street.”

It’s Not Only What You Have to Begin With

Building wealth doesn’t necessarily mean being born with a silver spoon in your mouth says Elias. Instead, it’s a matter of smart investment that begins as early in your career as possible.

The longer we invest, the greater the rewards. The power of compounding means we get rewards on top of rewards, and the longer we allow it to work for us, the more we gain.

“You can start as an ordinary, middle-income employee and still end up with a high net worth – or you could start out as a high-flyer and still crash and burn. It’s not what you have that matters as much as what you do with it,” says Elias.

Conspicuous Consumerism Comes with an Opportunity Cost

The concept of opportunity cost, says Elias, is easy to understand. If he has twenty dollars, he can spend it on chocolate, but if he spends it on chocolate, he can’t spend it on beer. The opportunity to get beer is sacrificed to get chocolate.

On a bigger scale, the money you used to buy a luxury car and a designer home is no longer available for investment – and if you used credit to get these things, you’ve sacrificed opportunity for many years to come.

“A lot of people mistake conspicuous consumerism for wealth,” says Elias. “It’s not the same thing. In fact, a lot of the possessions that people see as equating to wealth are the opposite of wealth-builders – they depreciate and they’re based on debt and liability rather than being assets.”

If I Were a Rich Man

Accumulating wealth, says Elias, isn’t as far out of the reach of the average person as most of us think and it probably doesn’t involve luxury yachts and Picassos.

“Money management – wealth management – is the key,” he says. “It’s the secure future when you retire. It’s your kids’ education. It’s the legacy you leave for your kids and grandkids. And, yes, it’s a few overseas holidays, some stylish dining out, and a decent car.”

There’s no single wealth-management strategy that’s going to work for everyone. We’re all different, and our approach to money should be tailored to match our lifestyles. TLK Partners, Chartered Accountants and Wealth Management Company is ready to help you investigate the possibilities in your financial future. Visit the TLK Wealth website or call (02) 8090 4324 to find out more.

Related Article: Truisms From Your Wealth Management Firm In Kingsgrove And Beverly Hills

This material is of a general nature only, it does not take into consideration your financial circumstances, needs or objectives. Before making any decision based on this content, you should assess your own circumstances, seek professional advice or contact our office to be directed to the appropriate professional. Whilst all care has been taken in presenting the material neither TLK Partners or its associated entities guarantee that the material is free of error and, the information may have changed since being published.

Syndicated by Baxton Media.

Contact Info:
Name: Matthew Mousa
Email: Send Email
Organization: TLK Partners
Address: 1-5 Commercial Rd, Kingsgrove, NSW 2208, Australia
Phone: +61-1300-724-017

For more information, please visit https://tlkpartners.com.au/

Source: NewsNetwork

Release ID: 440234

Other Press Releases

Chicago's vast camera network helped solve Smollett case

Feb 22, 2019

CHICAGO — Police tapped into Chicago's vast network of surveillance cameras — and even some homeowners' doorbell cameras — to track down two brothers who later claimed they were paid by "Empire" actor Jussie Smollett to stage an attack on him, the latest example of the city's high-tech approach to public safety. Officers said they reviewed video from more than four dozen cameras to trace the brothers' movements before and after the reported attack, determining where they lived and who they were before arresting them a little more than two weeks later. Smollett reported being beaten up by two men...

The Latest: Lawyer call Smollett man of character, integrity

Feb 22, 2019

CHICAGO — The Latest on the attack reported by Jussie Smollett (all times local): 8:15 p.m. Lawyers for Jussie Smollett say the Chicago Police Department put on an "organized law enforcement spectacle" when its superintendent detailed investigators' findings about the alleged attack on the "Empire" actor. In a statement Thursday night, Smollett's legal team said Superintendent Eddie Johnson's comments had no place in the American legal system. At a news conference earlier in the day, Johnson said Smollett owes the city an apology and should admit what he did. Smollett is accused of paying two men to help stage the...

Emotional ceremony honors Hall, Stenberg, Layne and Lewis

Feb 22, 2019

BEVERLY HILLS, Calif. — Amandla Stenberg brought the audience to their feet as she talked of being protected by the ancestors. KiKi Layne evoked tears as she talked about having the comfort of black women during an exciting but "terrifying" time. Regina Hall kept people in stitches as she cracked jokes and celebrated her longevity in Hollywood. And Jenifer Lewis commanded everyone to honor those who came before them— while seemingly alluding to the arrest of Jussie Smollett for allegedly concocting a hoax about being attacked. The actresses honored by Essence at the Black Women in Hollywood luncheon all riveted...

Case against Jussie Smollett resembles detailed movie script

Feb 22, 2019

CHICAGO — As authorities laid out their case against "Empire" actor Jussie Smollett, the narrative that emerged Thursday sounded like that of a filmmaker who wrote, cast, directed and starred in a short movie. Prosecutors said Smollett gave detailed instructions to the accomplices who helped him stage a racist, anti-gay attack on himself, including telling them specific slurs to yell, urging them to shout "MAGA country" and even pointing out a surveillance camera that he thought would record the beating. "I believe Mr. Smollett wanted it on camera," Police Superintendent Eddie Johnson told reporters. "But unfortunately that particular camera wasn't...

Oscars producers say the show is in 'good shape' for Sunday

Feb 22, 2019

LOS ANGELES — Academy Awards producers Donna Gigliotti and Glenn Weiss have been hearing the same question a lot recently: Are you OK? It's an understandable query. Producing the Oscars is guaranteed to be a stressful job, but the road to the 91st Academy Awards, which will take place on Sunday, has been unusually bumpy, and public. "We're good! We're good!" Gigliotti said while laughing Thursday afternoon. "Did we look like cadavers yesterday?" Both have been working out of the Dolby Theatre, where hundreds of people are making sure everything is ready by Sunday night when the show airs live...

Hollywood in five is your 5 minutes read of Hollywood news with continual updated coverage.

Contact us: sales@hollywoodinfive.com