One plus two does not always equal three – meaning you’re not always guaranteed success because you followed a couple of steps.
In finance, you can do everything right and still lose big. It is not enough to work hard, save and invest. You have to work hard on the right opportunity, be in the right place at the right time. This is The Art of Wealth. 🙂
The Art of Wealth (Black Marlin Publishing, 2012) by Dean Bahniuk addresses how strategy and execution lead to success by harnessing the energy of emotions and economics.
Beginning with the purpose of money, Bahniuk teaches the reader how to make better financial decisions. The Art of Wealth addresses money, income, liabilities, investments, and assets, including the most important asset: time.
All business people need to respect money even when it’s not yours – it’s that of the business. All decisions are based on emotions, and good preparation can draw on the right emotions when you need them.
The Art of Wealth takes a macro approach in discussing economics, emotions and execution. Bahniuk says:
If I teach the big picture, advisors can fill in the details. The details are important, but road maps are most effective at 30,000 feet, not close up.
Many finance books are not effective because they lose the reader in details and terminology.
Traditional economic theory is based on the assumption that we treat gains and losses equally. We don’t.
- Understanding how emotions pull us to follow the herd, act for immediate satisfaction, and accept losses helps reverse such behavior.
- Understanding how we think and act about money helps us to use money more effectively.
What is Economics?
If you’re wondering what really is Economics – it’s a social science that studies needs and wants and the distribution of resources, mostly those that are hard to get. So it is the study of activities (needs, wants, choices) and allocation (resources scarity, costs, benefits). Then you have micro and macroeconomics.
Economics creates a never ending rhythm of ups and downs. This economic energy pulls us to invest at the top and sell at the bottom.
Understanding these biorhythms allows us to harness this energy and benefit from the ebb and flow. Without this understanding, you are swimming against the spring river, a losing proposition.
The most important asset is Personal Wealth. Successful management of Personal Wealth results in financial wealth.
Personal Wealth and the Wealth Curve concept helps to visualize wealth and plot a direction in obtaining it.
Wealth does not happen by accident, it takes great strategy and effective execution.
The Art of Wealth is a must read for anyone who wants to make better financial decisions.
Those who feel like they are always in the wrong place at the wrong time or not making efficient decisions can benefit from reading The Art of Wealth.
Dean Bahniuk has spent more than twenty-five years in finance. He earned his MBA, CPA, CRPC designation and holds various insurance and investment advisor licenses.
Dean advises high net worth individuals and families on wealth management strategies, tactics, and execution. Taking a consultative approach, Dean practices The Art of Wealth in engineering and executing successful strategic plans. His expertise, passion, and care provide his client’s peace of mind and the ability to sleep at night.
Amazon has Dean’s book in paperback.
Now for your business you may be interested in learning about capital markets and the role of micro and macroeconomics – click here.