May 10, 2024  | Tags: education, wealth

Our insights

Schools tend to place a great emphasis on the traditional three Rs - reading, writing and arithmetic.

But understanding how to grow and preserve your wealth is every bit as important.

Even if you are ‘not good with numbers’, you can always improve your understanding of basic financial principles.

By and large, these concepts do not require mathematical acumen.

This applies to everyone from labourers and white collar workers to financial industry professionals.

There is always more to learn.

Here are some ways you can improve your wealth education.

Read financial books and resources

Some of the most successful people on the planet have written books about how they did it.

The following books are a good start:

• The Barefoot Investor
• Rich Dad Poor Dad
• I Will Teach You to Be Rich
• The Psychology of Money
• The Warren Buffett Way

Follow financial websites and blogs

Stay abreast of the latest financial trends by following reputable websites and blogs online and on social media.

You’ll be kept up to date with everything from the latest share tips and trends to news and unique insights into the world of finance.

Look for blogs written by certified financial planners, investment professionals and experienced wealth builders - be careful about the rest, a lot of people claim to be ‘experts’ without the credibility to back them up!

The best free websites and newsletters include:

moneysmart.gov.au

asx.com.au

https://thewire.fiig.com.au/

cufflinks.com.au

livewiremarkets.com

Listen to podcasts

Podcasts are a simple, free, easy and convenient way to grow your financial knowledge base.

You can listen to them on your drive to work or lying in bed at the end of the day.

They feature a wide variety of topics and subjects, discussing practical tips and real life success stories.

Try these:

• The Australian Finance Podcast
• My Millennial Money
• Motley Fool Money
• Australian Investors Podcast
• How to Money
• She’s on the Money Podcast

Consider and explore the psychology of investing

Investing and having financial prowess isn’t just about numbers.

There is a human factor to it – a psychological force which can throw the best laid plans off course.

Learn about the psychology of investing and the behavioural sciences that influence the way we think and the decisions we make.

Once you better understand your own strengths and weaknesses, you are less likely to make poor or impulsive decisions that can potentially derail your wealth creation strategy.

Engage a financial adviser

This is the best way to improve your wealth education, while ensuring your investment goals are met.

A qualified and experienced financial adviser will work with you, providing you with guidance and empowering you to take charge of your future - while providing you with the guardrails of qualified advice and support. 

They will provide personalised advice, tailored to your individual needs, offering valuable insight which you can use time and time again to grow your wealth.

Calder Wealth Management boasts a team of financial planners and advisors in Adelaide with an envious reputation.

We can help educate you on financial matters, establish your wealth creation strategy or ensure the one you already have in place is on course to deliver your desired outcome.

We’ll also regularly review your investments to ensure they remain aligned with your goals, needs and ever changing circumstances.

We’ll adjust them if necessary to take advantage of evolving market conditions or your own life events.

At Calder Wealth Management we pride ourselves on leading our clients into the future with structure, financial stability and confidence. 

Contact us today.

Written by Liz Wilson.

The information contained in this article is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Taxation, legal and other matters referred to on this website are of a general nature only and are based on Calder Wealth Management’s interpretation of laws existing at the time and should not be relied upon in place of appropriate professional advice. Those laws may change from time to time.

CWM specialises in wealth management with a focus on advice, investment, sustainability, insurance and finance.