A Morning star report from 2017 found that one factor was more influential than any other, on an individual’s savings and wealth accumulation rate – time. Specifically, “mental time” or put another way, how far into the future one is willing to think about. It is crucial to consider the needs and desires of our future selves when engaging in wealth and lifestyle planning.
By taking into account how we envision our lives for years to come, we can make more informed choices, setting us up for a positive and exciting future. This wonderful 4-minute video from our Head of Financial Life Strategies, Monique Madan (CFP), discusses one of the greatest predictors of future wealth.