Factors that could waylay your wealth | Bangkok Post: news

Networth

Last week, we looked at the devastating effects inflation can have on the real value of your wealth. We did so in terms of both its capital value and your ongoing income requirement, which invariably increases as time goes by.

If you already have some wealth, this subject will be close to your heart. If you have not yet created much wealth, you might not be paying attention to inflation but it's best that you become educated so that when the impact is magnified over time, you'll be prepared.

There are many tips, references, systems and methodologies available to study and adopt when it comes to managing wealth. No one person is going to be an absolute expert and those who have superlative skills are likely already protecting a vast pool of wealth themselves. Warren Buffett or George Soros are two examples of successful self-made investment magnates.