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How to Manage Your Money Like You Have Plenty of It

June 11, 2019

Filed under: Estate Planning — Laura Pennington @ 1:10 pm

There are many different secrets for millionaires, but one of the biggest is that they manage their money and their mindset about money differently from other people. Even if you’re not quite a millionaire yet, adopting a healthy mindset and orienting your financial and estate planning around it can have ripple effects in your life.

Accounting.

One of the first things that millionaires do differently is look towards the future with excitement and not anxiety. They know that tax laws can and do adapt, and they have plans and conversations with advisors by keeping this in the back of their mind.

It might surprise you to learn that many millionaires live below their means. Most of them believe that spending less than they can afford allows for savings opportunities and amassing more wealth that not only benefits their personal life, but also benefits their loved ones, too.

Millionaires take a very healthy approach to learning more about money. They are constantly interested in ways to do things better, which opens them up to having deep conversations with experts about whether or not a new strategy might be more effective. The very act of questioning can be extremely positive.

Finally, millionaires know they need help with their money and planning. They recognize that, even with a high volume of wealth, that the job of protecting it is theirs. So they keep an open eye towards potential threats, like the possibility of a disability or a lawsuit. Asset protection planning is a priority for people in this position.

If you’re ready to start thinking like a millionaire and taking your future into your own hands, schedule a meeting with an estate planning lawyer today.

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