At Kelly+Partners, wealth is defined as the number of days one can afford to live without having to work in a personal or job role. To achieve wealth, one must determine their own definition of it by considering how much money is needed in 5 years and how it will be defined. Wealth is then achieved through saving and investing, with $1 million invested generating $40,000-$50,000 annual return through 4-5% investment yield. Defining one's wealth goal is important to know where you want to be financially.

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What is the definition of ‘wealth’?
At Kelly+Partners we specialise in working with private business owners. We urge
them to get a clear understanding that your definition of wealth doesn’t have to be
the same as anyone else’s.
What is important before you start a journey is that you work out where you’re trying
to get to, at least in the first generation.
Ask yourself the following questions:
1.
Where would I like to be in 5 years?
2. How much money am I going to need?
3. How do I define that?
At Kelly+Partners we like to define wealth as:
“The number of days you can afford to live without having to work in a personal
exertion role – or job.”
Once you have your own definition of wealth, you need to think about how much
you save and how much you invest. A good way to think about it is:
• If you have a million dollars invested, you can be sure of a 4-5% return.
• his means to have $40,000 – $50,000 income before tax, you need $1 million
T
invested.
Essentially for every dollar you put in to your assets and that you save, in retirement
you are going to get $5 return in retirement.
Taking this on board, work out for yourself what your definition of wealth is. It is much
more likely that you’re going to get to where you want to be if you actually decide
where that place is.
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