The most important assets can’t be found on a balance sheet. (An ode to resourcefulness)

12 April 2019

I have tremendous faith in resourceful people.

If there’s one thing that working as a financial adviser has done for me, it has affirmed this faith, again and again.

Something I’ve observed is that most of the people who get themselves into a good position in life (financially and otherwise) are resourceful.

They might not have started with much. In fact, many of my clients recall growing up in households where money was tight. But their resourcefulness put them in positions where they could see and seize opportunities in many domains in their lives.

Many of these people end up getting into a position where they can retire. But they don’t choose to retire. They enjoy contributing. They enjoy the act of being resourceful.

They also have a confidence in themselves, and an inner sense that if they “lost it all”, or anything went wrong, they’d be able to deal with it.

In other words, they’re prepared to take risks, but these risks aren’t “risks” the way that others might see them. Because no matter what happens in the external world, they know they’ll still have their wit and cunning, which counts for a lot.

This inner confidence is a tremendous asset.

But you’ll never find it on a balance sheet.

The more I deal with people about their money situation, the more convinced I am that the most important assets can’t be found on a balance sheet.

Resourcefulness is one of those assets. But it’s not the only one! Don’t get me started on your health. Or the importance and value of being embedded in rich social networks. Or being a good person.

I’ve said it a hundred times already, but I’ll keep saying it until I’ve said it a million times. Real wealth isn’t about money.



resourcefulness, wealth

About the author 

Sonnie Bailey

In his spare time, Sonnie likes telling people that he’s a former Olympic power walker, a lion tamer, or that he is an orthodontist. He is none of those things. In reality, Sonnie is a financial planner based in Christchurch. Through his business, Fairhaven Wealth (www.fairhavenwealth.co.nz), he provides independent, advice-only, fixed-fee financial planning services. Sonnie is a “recovering lawyer”: he has specialised in trusts and personal client work. He has also worked as a financial services lawyer for many years.

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