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. https://youtu.be/Fo_Sxxj7w_U
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...
Ghandi said “the purpose of life is to know oneself”.
Why? Because without knowing oneself, we are probably living the life of somebody or something else.
It was only when I sold my Multi Family Office about 6 years ago that I started to discover a meaningful purpose in my life.
Why? Because from that moment I became financially independent, found my family. I decided to dedicate the rest of my life to share that wisdom: “that the road to the ultimate truth is through oneself and one’s family”. One can then spend as much time one need to continue learning.
As Tevye sang in the Fiddler on the Roof: “If I were rich, I'd have the time that I lack………….to discuss the holy books with the learned men, several hours every day. That would be the sweetest thing of all.”
In my case I found time to create “a fair order knowledge community of members who join forces to create financial independence for private clients...
To change the world one has to decide in what?
A few years ago I sold my Family Office business to start a “change the world” business: an on-line members platform around E-Learning. It came about only after one of my business mentors, a super rich entrepreneur who had been a client, advised me to seek myself again before writing my business plan. He reminded me of what Forest Grump said “My mom always said life was like a box of chocolates. You never know what you're gonna get.” So “First know your self and know what YOU want? Then go and do it”.
After speaking to others including a career assessment specialist, I was asked to dig deep and answer the 5 questions honestly taking as much time as required and then to write it down.
The 5 questions were:
(I have the question as on-line form which I will gladly share with you. Just ask).
I was told...
From the many feedback I got, it seems that many want to change the world for the better, thinking our world is sick. Many have ideas on how to fix it with almost every problem that we face having a solution. There is no shortage of good ideas.
There are too many impassioned speeches or writings without any action plan: what, by whom and when. These “talks” with “no walks” solve no problem because in the end, after the sermon, speech and writing we all go back to our routines.
Any big fundamental change whether it is in our life, work, community, politics require patient and impersonal team-work. It calls for collective minds and efforts involving entrepreneurs, financiers, consumers, marketers, lawyers, accountants and social workers. Change takes time and involves small steps and as Rocky says will imply getting up as many times we fall and we will fall many times.
If we really believe in something that will benefit our inner circle or humanity, let us...
Over the course of 2018, we discussed how humans became the domineering power on earth. We had the “God reason” and the “there is no God” reason. Whatever the reason the reality is the world we have created and we now live in – that is reality.
Whilst the successes of the civilisations humans built can be appreciated, we also know that we have to act now and make a decision to change course:
What do you think?
Financial security means different thing for each one of us.
The majority of the world population could live on £100 per month whilst a few would still struggle on £10,000 per month.
It is all linked with each individual’s standard of living – present and future.
So the amount required by each one of us is relative and there is no one size fit all.
“Financial security tops the list of changes that would most increase happiness (39%), and is the most commonly cited obstacle to prioritizing things that would make people happier (33%).” According to a survey conducted by Life Reimagined, in association with Luntz Global, December 2014. US
Everybody interested to create wealth for themselves or others should read The Birth of Plenty: How the Prosperity of the Modern World Was Created. In it the author explains that for prosperity to have happened four pillars had to converge.
Property rights –...
The world must find a way to allow up to 9-billion people predicted to live on earth to do so comfortably and well, equitably, peacefully on our increasingly crowded planet. The current economic system and financial services is not fit for that purpose. Extracted from Transforming Finance Tony Greenham – Head of Finance and Business – New Economist Foundation.
Financial Services as it is, is to make upfront gains and sell commission-based financial products.
Whilst regulators look at ways of controlling banks and other service providers, private clients struggle to see clearly. Some entrepreneurs, self- employed or in business can use their banking relationship to install some form of control and follow up.
The majority of clients do not have the time nor the knowledge and experience to face up to the machine that banks have become. They end up paying fees and commissions which are not trivial. “Over time, these seemingly small fees will compound and can easily...
The wealthiest 1% will soon own more than the rest of the world’s population, according to a study by anti-poverty charity Oxfam. Are you in or out of the 1%. Why you should be in? Because “Financial security tops the list of changes that would most increase happiness (39%), and is the most commonly cited obstacle to prioritizing things that would make people happier (33%).
According to a survey conducted by Life Reimagined, in association with Luntz Global, December 2014. US. If you are already in and want to stay in make sure you take possession of your assets because if not the people managing your investments have taken too much power over how that money is used and where it is invested. Often you will find it is not in your interest (no pun intended!). The amount being syphoned away is not small. “Over time, these seemingly small fees will compound and can easily consume one third of investment returns, yet a lot of people don’t believe that this problem...
“Financial security tops the list of changes that would most increase happiness (39%), and is the most commonly cited obstacle to prioritizing things that would make people happier (33%).”
According to a survey conducted by Life Reimagined, in association with Luntz Global, December 2014.
I recently had the delicate role of telling a very nice person member of my team that we were not renewing her employment with us. It was hard and awkward. She took it hard but not as a “tragedy”. I told her that I will help her in her initiatives if I could but will continue to try to advice her.
On the day she left she asked to see me and she gave me a present……………………..I was so touched.
Here is an email that I sent her:
“After the recent events, it is normal that you will feel disappointed and I guess your confidence level is low.
This is not about losing. It is simply accepting that things were not working out...
Bob Penn, Partner Allen Overy, wrote in an article in FS Focus of January 2015, “breaking up is hard to do” that this is the most radical overhaul of UK bank regulation in over a century. The Banking Reform Act 2013 follows the recommendations of the Independent Commission on Banking (ICB) and by January 2018,legislation will require the largest UK Banks to “ring-fence” certain operations so in effect telling clients which activity carries more risk.
Action is better than doing nothing after the debacle of the financial services. So let us hope more Bankers will act with more responsibility towards their clients informing them about the new measures, also where risks are and returning to the time when Bankers were trusted .
We will be wrong to think the good time is back again maybe for the Bankers but not for the end clients. So we cannot leave it to bankers and rely on...