There you go, now keep them safe!... Wait, you were expecting more than just a picture? For most people, their answer would be: "Of course, give me something that shows the full picture of achieving financial success" rather than just a cute play on words.

For many people, building true wealth might seem unobtainable or even illusory considering that many people feel unprepared for retirement. The primary lesson learned from the recent financial crisis is that wealth can be fleeting. However, wealth creation always has been, and still is, a process grounded in sound principles and practices that, when applied with discipline and patience, are manageable for most people.

Define your ambition.

Without a clear definition of what wealth means to you, individuals are more likely to end up favoring consumption over savings. Without a clearly defined personal wealth ambition, people often take their cues from those around them: Example, taking on a vacation or making a large purchase based on what they see their immediate peer group do, regardless of their own ability to purchase these items.

Wealth building begins with a clear vision of what a long-term good life looks and feels like. Only then can work out a strategy to help you build, enhance, and preserve your wealth now and through your retirement years.

 Average Investor Behavior.

In a 10 year study conducted called “Quantitative Analysis of Investor Behavior,” it was found that investors, through their own behavioral missteps, consistently failed to capture as much as 60 percent of their possible returns generated by the stock market. Whether it be through chasing returns, succumbing to the euphoria of market highs, or fleeing with the herd at market bottoms, the investors allowed their behavioral tendencies to guide their investment decisions; this almost always guaranteed their under performance.

Long Term Investment Plan.

Academic studies conducted over decades have clearly shown that investors, who adhere to a long-term strategy based on well-defined objectives, will outperform those who do not. With a well-conceived long-term investment strategy, investors are more likely to stay true to their own personal benchmarks that concern themselves with the returns of the market indexes. Working with the right investment advisor in developing and executing a long-term strategy can help you maintain the optimum asset allocation for your portfolio, while minimizing the fees that can eat into your returns over time.

Live Within Your Means.

The lesson learned from the financial crisis is that wealth can be fleeting. True wealth is built over time utilizing a disciplined savings and spending approach. The amount of wealth you build is not just a function of how much you can save and invest strategically; it’s also a function of how much you spend. Living under your means will almost always result in a higher savings rate.

Be Disciplined. Be Prepared.

Having a clear definition of what wealth means to you will ensure that the additional dollars you realize from moderate spending or increases in income will be properly applied to achieving your vision. By applying the same level of discipline and patience to a long-term investment strategy on sound principles, you have a much greater likelihood of keeping your wealth on an upward trajectory.

Contact Your Advisor

Still, individuals can make all of the right moves, and still have unforeseen circumstances disrupted their financial security. While no one is completely immune, there are some measures that you can take to help cushion the impact of this type of crisis, and a qualified financial specialist can guide you through that process.