1. Define Purpose – Articulating and codifying goals, feelings and purpose for your wealth is a necessary first step to set yourself on the right decision path. Ask yourself, “What or who do I care deeply about?” The answer to that question should be a guiding principle for how your structure, grow and distribute your resources.
When making financial investments, many individuals only consider how those decisions will personally affect them. Jeffery Price—managing director and wealth management advisor at Merrill Lynch, Pierce, Fenner & Smith Inc.—says individuals actually can make investments that have a global impact.