The Three Circles of Wealth – The Common Denominator
Every business owner I have ever met says they are “So busy being successful, they don’t have time to evaluate the impact of legislative change on their personal planning.” The tyranny of the urgent overcomes their ability and energy to deal with their personal affairs as forward thinkers. Another frustration occurs if they have taken the time to do planning. The effort and emotional energy as well as the financial resources are staggering to them. But again, legislative changes have come along and rendered much of what they did in the past, obsolete. They once had a plan by design, but now through time and erosion due to these changes, their plan became one by default.
Another common denominator is every business owner is trying to manage their Three Circles of Wealth. I call these circles – Wealth Accumulation, Wealth Succession, and Wealth Preservation. The three circles comprise many tools and the cost can be significant to implement and maintain them. But the “too busy” problem and the velocity of change renders many of these choices ineffective and inefficient. Systemic barriers are erected to prevent the circles from being efficient and effective.
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