How to build wealth in a post-pandemic world

For a long time, the thinking of ‘I have a job, I will be ok’ has been enough for many. But the pandemic has shown us all that the world can throw things at us without warning.

On the other side of the coin, through the pandemic, we have seen others who invest – whether in real estate or in certain stocks (e.g. tech stocks) – whose wealth has increased. Not just the super successful Jeff Bezos / Elon Musk types, but also average people who have assets and asset-generating income have benefited tremendously. This puts them in a great position in a post-pandemic world.

20.3% wealthier in 12 months

For residential property investors, for example, with over 20.3% growth in Australian dwelling values in the past 12 months (the highest growth since June 1989), they may have equity to continue investing, or additional income to start to enjoy travel or other activities as the world reopens. It has shown just how important asset generating income can be.

Even without a pandemic though, it’s always important to be financially prepared for the future. As I often note, we are living longer than ever before, we cannot rely on the pension or average super balance to cover retirement with financial ease and less stress, let alone live at the level you aspire to or have the option of retiring early. Living through a pandemic, I know there are many who may be feeling it’s too hard or too late to start preparing for a rainy day, and if this is you, I would say: it is never too late, if you are really ready to start!

Wealth can belong to you

Fundamentally people are brought up to believe wealth belongs to rich people. What they don’t realise is that many rich people started out the same as them. But at some point they developed the mindset, drive and skills to change.

Lack of education is part of it, media depictions of wealthy people as being inherently bad or greedy is also part of it; remember wealth on its own is neither good or bad – it’s what you do with it. But often it’s a case of people thinking attainment of wealth is beyond their capability. What I have found though, is that building wealth is no more difficult than learning and applying certain principles consistently – and persistently. Wealth is a long-term pursuit; people aren’t often used to delayed gratification – but it is the worth the wait and the effort!

Democratising wealth and financial literacy is something I have devoted the better part of my career to. When I came out as a migrant, I was determined to make a success of my life here and prove that anyone can change their life for the better. When I started investing and started to enjoy the benefits of investing, I shared the knowledge with friends and family. Through Ironfish, I’ve been able to share this with many more thousands of people. Our customers may be at different stages of the journey, but they are on their way, and I really feel proud of that.

On my own personal journey, I do honestly believe I’ve changed for the better as a person along the way as well; I’m stronger, more resilient, more open minded, patient, a better husband, father and community member. I believe in the ripple effect and in helping others duplicate my success on the way I know that ripple effect spreads even further.

If 2021 is the year you start to think of yourself as someone who deserves wealth, or if you are ready to start planning for a brighter future, I encourage you to come along to my upcoming webinar “The 5 secrets to building wealth”. I will share some of the fundamental steps and strategies that I learned myself along the way and that have helped me and many others towards making significant changes to their financial future.

Hope to see you there!

Ironfish customer success: