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 – both real and intellectual and rules of Law;
Basically , Mr Bernstein concludes that trade and commerce is the lifeblood of world prosperity.
What about: Individual Prosperity:
At an individual level we cannot and should not leave our own financial security and that of our family solely in the hands of the Law makers and definitely not in the hands of Bankers and Investment Managers. We have to take ownership of our own money management and savings.
Ask yourself what you are doing about your own prosperity. Either you do something about it or you get somebody to do it with you.
My lifetime ambition is to make as many people become passionate about their own Financially Security.
In this respect I have a started a community of Independent Financial Guardians/Protector who will accompany private clients by 1) making him/her more knowledgeable about finance - tell them the truth! and 2) making the Investment Managers/Bankers/Pension Funds/Insurance Companies accountable to the end users.