Private Wealth and Family Office Association – financial literacy!

Uncategorized Aug 19, 2019

 Whilst we debate about how the financial system is creating more divisions, how money is not everything, the reality for each problem we face is probably based on finance.

We can be philosophical and think about a better world or we can be wealthy and make a better world. How we spend more than we need to and create indebtedness in this consumer market is often an indicator of limited financial literacy.

The top 10 Most Financially Literate Countries according to the S&P’s Global Financial Literacy Survey are: Denmark/Norway/Sweden/Canada/Israel/United Kingdom/Germany/Netherlands/Australia/Finland (list a).

When one compares that list to the World Happiness Report

(a United Nations Sustainable Development Solutions Network, 7 nations are among the top 10 in both list and the 3 remaining which are on list a still falls within the top 20 happiest countries.

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Private Wealth and Family Office Association – achieving financial security through financial education.

Uncategorized Aug 16, 2019

Following on from last week blog, an experienced Financial Advisor, commented on my post to express that quotes containing the secrets of the rich are actually quite simple and sweet.

He sent me his 3 rules to becoming rich:

  • always be an owner and not a loaner,
  • don't buy milk, own a cow,
  •  it's not what you earn, it's what you keep

(Richard M. Kiernicki)

Whilst owning a cow may prove a challenge; specially convincing your partner and elder members of the family; the young ones no doubt will be excited. (A joke was building up but I will refrain from thinking it out). We know he does not mean it literally.

I will elaborate on Richard’s advice next week.

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Private Wealth and Family Office Association – achieving financial security through financial education!

Uncategorized Aug 15, 2019

With acknowledgement to G.E. Miller

What if…

… personal finance was taught in school so that all children could have an example of the right things to do versus modelling the wrong ones based on the current model which seems to be stalling?

…what if parents struggling with looking after their loved ones, young and old, with  spending and debt could challenges easily get free advice from someone who had previously overcome those problems?

…the rich entrepreneurs among our communities with empathy for others could sit and talk with someone who had worked hard their entire life, but still struggle because of bad luck and harsh realities or sheer pressure of the consuming world?

…hundreds of millions of present and future world citizens could more easily discuss and learn how to consume less and save more so that they could live richer, fuller lives?

We would all benefit. Wasteful consumption habits will plummet, this weill reduce our burden...

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Private Wealth and Family Office Association – achieving financial security.

Uncategorized Aug 14, 2019


Education and determination are the keys to success in this new world. Success means different things to each one of us. Whether it is health, love, being extremely rich or being able to spend hours medidating, modern living happily implies being financially secure.

An important part of our waking hours if not the most, are spent working or running our businesses trying to make money so that we can improve our personal finances.

If you are already financially secure for life: great. If not and you are still working, let me share with you what I learned from the super rich whom I served for many years.

  1. During the ‘earnings’ part of your life, save the maximum realistically possible.
  2. Protect your savings and place it so it grows and ends up becoming sufficient to meet your lifetime cash flow requirement.
  3. Recalculate your “post earnings” life time cash flow requirement and what you want to pass on to match what you have saved.

Financial planning to...

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Private Wealth and Family Office Association – The Future of Jobs

Uncategorized Aug 13, 2019

Following on from last week about jobs, this report by WEF on the future of jobs tells the full story. One extract reads "the skill sets required in both old and new occupations will change in most industries and transform how and where people work."

Whilst "updating labour policy to match the realities of the Fourth Industrial Revolution"  is for legislators, "tackling improvements to education and training systems" is for each and every one of us to invest in.

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Private Wealth and Family Office Association – Family training and development.

Uncategorized Aug 12, 2019

Winnie Byanyima, Executive Director of Oxfam is right when she says that "quality jobs" is a key challenge for world prosperity.

MacKinsey Global Institute (GBI) found that there is a global job market caused by globalisation and technology.

As it was the advanced economies that invested in new technology that led to the creation of new thousands of millions of jobs and took these un-employed out of poverty, they also created high-skill positions mostly at their top end.

So after 4 decades of globalisation, (GBI) summarises the world job market as:

  • shortage of between 38-40 million of high skill workers,
  • surplus of nearly 100 million low skill workers around the world and
  • shortage of 45 million medium-skill jobs in developing economies.

So at the low and medium skill level we have jobless, millions more in vulnerable employment and millions of workers globally live in extreme poverty.

But at the top end, fortunes increased by $2.5bn (£1.94bn) a day while the bottom half of...

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Private Wealth and Family Office Association – Financial Independence.

Uncategorized Aug 09, 2019

Success is what you make it to be. The current world order - our civilization – is defined by socio-politico-economic characteristics that WE have constructed.

Through it we also created an elite, that we knew held huge amount of wealth, privileges, political power, (and though less and less now )skill in our society. In the early stage of civilisation the elite were those we considered powerful enough to organise and defend our society, our economic system and our values. We tolerated them because we also benefited.

But there has been a power shift away from the socio-politico elite now to the economic elite. In the past who ever control the votes control the affairs of the state.

Now it is mostly those financially strong who have the power.

Whilst movements are afoot to try to change the dominance of the economic elite, we cannot and should not leave our own future and that of our family solely in the hands of the law makers or the clergy.

The best way to move up the ladder...

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Private Wealth and Family Office Association – a new beginning!

Uncategorized Aug 08, 2019

About 20 months ago I started writing this weekly blog. I was facing a void in my life that raised fundamental questions about one’s existence. Though well supported, still I felt completely loss after what had been a successful professional career.

My regular writings became my “write” do not “fight” motto. For many of you who actually read my posts and have often commented, you may have noticed that I am not a professional blogger often writing about seemingly unconnected things.  

I wrote because I wanted to better understand life, redefine a purpose in this stage of my life.

Well I think that these writings and the many feedback, encouragements and support I got helped me to decide what to do to accept life as it had become.

It led me to a new project - a start-up in Training and Formation with a focus on E-Learning.

You may have read clues in the last 3 blogs when I started hinting Financial Security for individuals and families and made...

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Individuals and families to change the world – Sustainable Development Goals.

Uncategorized Aug 07, 2019

During last week, I followed up on the subject of Sustainable Development Goals with experts namely Francesca Sharp, Sustainability Manager at ICAEW and Chichi UMESI, of the Permanent Mission of Nigeria in Geneva, Advisor to the SDG Lab. I know both as excellent ambassadors of the UNSDG.

We agreed that the bottom-up approach must be propagated more to accelerate the “talks” becoming “walks”; integrated in our businesses, shared with our local and state representatives, become part of our daily lives.

Francesca introduced me to Certified B Corporations, which are businesses that meet the highest standards of verified social and environmental performance, public transparency, and legal accountability to balance profit and purpose. B Corps are accelerating a global culture shift to redefine success in business and build a more inclusive and sustainable economy.

At a personal level I commit to incorporate...

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Individuals and families to change the world – World Economic Forum

Uncategorized Aug 06, 2019

World Economic Forum is the International Organization for Public-Private Cooperation. Each year it assembles elites in Davos – Switzerland - to reflect on issues that touch each human and try to formulate solutions and come up with actions plan.

One of the themes covered this year under the Sustainable Development Goals label was “wealth”. Wealth touches each one of us directly or indirectly.

The video is long - at over one hour.

The discussions by the experts focused on wealth of nations (countries) and corporations. Wealth definition was taken as “an abundance of valuable possessions or money”.

So for countries the discussions touched on GDP. first thought of in the 1600s and since the 1900 GDP became the measures accepted by most nations, adapted to include (PPP) purchasing power parity and Gini co-efficient.

For corporations the accepted objective of only shareholders value was challenged and other methods of...

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