Navigating the Complexities of Wealth
For many people, a growing base of wealth is desirable, as greater wealth means a greater level of comfort and freedom, and a lower degree of stress. However, there is also a direct and positive relationship between wealth and complexity. Simply put, as your wealth grows, so does the complexity involved with the proper management and decisions of that wealth.
Wealth and Complexity
Research shows that the top 10% of the US population have achieved the status of “uniquely successful”, and have accumulated significant wealth of at least $1 million in assets. This very small number of people have crossed the threshold into an unusual and unfamiliar situation. It is difficult to be prepared and knowledgeable about how to navigate this position in life until one has been there and experienced it.
Simply put, as your wealth grows, so does the complexity involved with the proper management and decisions of that wealth.
For uniquely successful families, this can lead to a high degree of anxiety, because complexity means that they don’t know what they might be missing. Importantly, they don’t know what they might be missing that could hurt them, or that they could benefit from, possibly in large measure.
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