Brandon writes, “I am scientist who works for a technology startup. I enjoy my work and am hoping that one of these days the stuff I am working on will catapult my company into stardom and we will all get super-rich when we have an IPO. So how do I create wealth with all this background that you now have?”
Most of the people who created enormous wealth, from the biographies that I have read, actually did not have that mission. Money came to them as an outcome of something else that they were trying to do, for instance in the case of Bill Gates, creating software, his passion. I am sure you know a lot of people, and to some extent it applies to you as well, wealth has no correlation to happiness, which should be the true goal in life anyway. A lot of people are miserable and they have way too much money, while in Brazil, there are so many poor people but it often ranks as the happiest country. Let me ask you this: would you rather be happy deep inside you or be wealthy and miserable? I think what I want you to think is that what can you do that you are passionate about, enjoy doing it, and as you succeed, money will simply be a bi-product. The main goal is still being happy.
And in case you do get fabulously rich when so many things go right, don’t let the money get into your head. Indeed, enjoy the money by spending it on what you like and what you have always wanted to do, but remember that money can go as fast as it came, so maintain balance. You will still need to follow simple principles of personal finance by allocating money for emergencies, retirement, and then only spend it on what you like to do. I am assuming that you do not have the financial savvy to manage your investments on your own. That is why it makes perfect sense to hire a financial adviser to do it for you.