I found this article about tips an adviser shares with his ultra wealthy clients. Each week I'll post about a tip and how it applies to regular people.
8. It's not only about the financial markets.
Wealthy people have their money work in multiple ways - investments, real estate, and businesses with a small percentage of net worth in their home. For regular people, the opposite is true - most of their retirement savings in 401ks and the bulk of their net worth in their homes.
What this means is that when one "market" goes down, the rich have many others that may go up - the ultimate definition of diversification. For many regular people, their finances are tied up in 2 markets - typically stocks and residential real estate.
Regular people can expand their financial world by invest in other assets ranging from investment RE to cash value life insurance to build wealth and not simply rely on the financial markets.
