THE SURPRISE OF WEALTH MANAGEMENT: A PRIVATE COLLECTION OF THE SIX GREATEST INVESTMENT PITFALLS AND THE INSIGHT TO GROW YOUR MONEY DURING ACCUMULATION, THROUGH RETIREMENT, AND IN LEGACY by ISABELLA TSAI

Chapter 1
The Wealth Experience

I would like to start by asking you a question:
Do you think investment advice should be a privilege?

But please, don’t answer right away. Take time to really
think about this question. Write it down in a notebook.
After you do this, tear out that page, fold it, and put it in
the jacket of this book. It’s important that you don’t just
leave it anywhere. Otherwise, you may lose it.
At first glance, this may seem like a gimmick. But here’s
the gist: at the end of this book, you will revisit that piece
of paper. When you unfold it, your previous answer will
leave a distinct impression on you. Ideally, a broader
perspective will shed new light on the same question.
Should investment advice be a privilege?
But this will come in due time. For now, let’s discuss
what keeps most people from enjoying investments. Has
this ever happened to you? You don’t have to say it out
loud, but it probably has. There are certain things not all of
us are good at. Money is like talent: you either have it or
don’t have it. But this is only partially true. A person can
take on the challenge of learning how to invest and
eventually succeed.
Consider the difference between saving and investing.
There is a difference between these two, even if it may not
be immediately clear from the start. The former, saving, is
to put money aside to keep it secure, regardless of whether
it yields much. The latter, investing, is to take actions
directed towards increasing the value of your wealth by
achieving attractive returns.
It would surprise you to see how uncommon this
difference is among the mindsets of different investors.
Many claim to understand that saving and investing aren’t
the same thing, yet their way of approaching performance
suggests otherwise. So it’s important you don’t just pick up
just any advice. There must be a screening process. What is
helpful advice and what isn’t? Sometimes it is hard to know,
wouldn’t you agree? I will discuss my views on investing in
straightforward terms.

THE SURPRISE OF WEALTH MANAGEMENT: A PRIVATE COLLECTION OF THE SIX GREATEST INVESTMENT PITFALLS AND THE INSIGHT TO GROW YOUR MONEY DURING ACCUMULATION, THROUGH RETIREMENT, AND IN LEGACY by ISABELLA TSAI