So then, the obvious question that arises is, why is it that wealth eludes most of us when most of us strive throughout our lives to accumulate it? Why is it that if we do not get it we blame ourselves or our destiny? Why is there an imbalance in our society if we are attempting to achieve the same things?

Wealth has four fundamental truths, and in my view if we are completely plugged into these facts we tend to get more clarity on how to be wealthy.

Right of Wealth

Everyone has the right to wealth. There is nothing wrong in this yearning for wealth. In fact, it is a praiseworthy trait for normal people. The question is; Do you really desire wealth? This is not as obvious as you think. If you think really hard or closely observe people around you, you will notice that people are not so ambitious about wealth per se as much as they might be about their career.

The fact is, if you do not really desire wealth you will never feel that you have the right to own it. It is like freedom of speech. If you do not desire to talk, you will hardly ever feel the right or need to exercise your freedom of speech. There are no reservations or VIP access or restrictions for ownership of wealth. It is everyone’s right, just that very few recognise it and even fewer exercise this right.

Only if you really desire wealth will you begin to explore avenues and be open to ideas that generate and maximise wealth.

Equality of Wealth

This is a subject matter of cause and effect. If all were to do the same thing the effect will be the same. Assume that a Rs 200 share doubled to Rs 400 in three years. If all invested in it, all would have made a 100 per cent profit in three years time. But that hardly happens.

Wealth is available for all and there is complete equality available in ownership without any bias or discrimination. Let’s not forget the share price has actually doubled but what you chose to do during that three year period was your decision.

Knowledge of Wealth

Understanding the concept of wealth is the most essential of all knowledge. It is not about knowing which is the best investment product available or which stock is likely to double next month etc., it is about financial discipline and strategy.

When we get the money we tend to misuse it by overspending. We abuse it by simply dumping it into some product which may not even keep pace with inflation and in the long run its starts to erode money. For example an endowment assurance policy or say RBI bond, etc.

To start with, most believe in the mantra of “Do it yourself”, then look at seemingly friendly agents/brokers/bank advisors, etc.

Finally, when you are working with qualified professionals your chances of having refined knowledge of wealth and its management improve significantly.

Movement of Wealth

Wealth moves from one to another be it companies, families, generations. It can be yours too. It will also move to you. Once it moves to you what you do of it becomes important, whether you expand it or extinguish it. We have learnt this as a part of history, more recently we have seen this happening amongst affluent families and family run business houses. You may also have witnessed this more closely amongst your own family, related families and families of friends. Times change and affluence of a few decades turns into bankruptcy later.

Most family-run businesses do not continue beyond two or three generations for a variety of reasons within which management of wealth is a generality; think on this. That said wealth has a self generating capacity and this process can be unending. The question is do we divert it initially in the right direction and ensure that it stays in the right direction given the changing financial environment and times.

Generally, there is a very shallow understanding of the concept of wealth among most people. The wealthy figure it out, teach their children and the secret then passes through generations. But sometimes it even gets lost.