Know where you are going and why

‘Happiness is not having what you want, but wanting what you have.’

Hyman Schachtel, US rabbi

It’s a fact that you can’t live in the past, because the present is already happening. We all have dreams and aspirations for the future, but some of us can envisage a bigger future than others. Even if you have achieved a ripe old age, you’ll probably have aspirations for your grandchildren or other young people or other important causes.

Many people go about planning and managing their wealth in a haphazard and random manner. They have a vague idea of what they want, gain some information and go from one financial solution to the other, without any real plan or context. Over the years I’ve answered many readers’ ...

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