| If you’ve followed the other parts of this series (Consolidation , OneWord Resolution and Vision/Mission ), then you’ve probably been waiting to get to the part where the rubber meets the road, turning those lofty ideals and objectives into an action plan. Remember, there are 2 aspects of the “Wealth Equation” that are 100% your responsibility – making the income and consuming it wisely so you can increase your wealth. When it comes to managing that wealth then you can ‘delegate’ that task, in part, to professionals like me. In the last part, we discussed reducing your consumption – the easy stuff (on paper, not emotionally). |
 |
| So, let’s start on the good stuff, increasing your income. Behind your objectives, those nice increased income projections, there needs to be an action plan, that’s the step where vision either becomes progress… or remains PowerPoint putrid poetry. My support documents (RedFile, income statement, balance sheet etc are still available free on request.) Here are some suggestions on how to go from objectives to a real action plan that actually gets things done: 1. First, clarify each objective If necessary, break them up into clear, measurable goals. Ask of each: * What exactly do I want to achieve? * How will I know when it’s done? * Why does it matter? For example, the objective: “Grow client base” becomes “Increase active clients by 15% by June 2026.” (Obviously, you need to know how many active clients you have in the first place, and you need to set a baseline for each objective.) I am using a sales objective here specifically because it is the one skill that can leapfrog your earning ability. If you’re not in a job that requires sales, don’t dismiss this skill outright. Social media, AI and content creation have made it much easier for everyone, no matter how introverted they are, to become a client-catcher. (Even looking for a job or attracting a life partner requires sales skills). Entrepreneurs cannot succeed without finding their own way to ‘sell’. Unfortunately, the saying “build it and they will come” only works in the movies. |
 |
| 2. Break objectives into key results or milestones Every big goal has smaller, sequential outcomes. Think of these as stepping-stones or mini victories. For example: * Create a new client onboarding process. * Rejig the marketing funnel to increase closure. * Launch referral incentive program. * Host 2 webinars per quarter. I can tell you from experience that you’re going to have to try a vast variety of strategies and persevere for years to get the formula that works for you – so keep brainstorming, try different things, and when one works, do a postmortem and find out why it succeeded, and what elements can make it even more sucessful (rather than finding out why it didn’t). Each milestone should directly move the needle on the main objective. 3. Identify specific actions Now, for each milestone, write down what needs to be done, by whom, and by when. This can be as simple as an Excel spreadsheet with Action; Owner (unless it’s 100% you, which is likely here); Deadline; Resources; Dependencies. There are also dozens of apps that will help you track an action plan. Remember that this is your Wealth Plan, so get into the habit of watching and tracking your bank accounts all the time. Don’t be the 2026 equivalent of your 2000 parents who left mailed bank statements unopened in a drawer for years. If this stresses you out, don’t give up, keep at it, time is a great desensitiser. Focus on what YOU can control – the income and consumption. Venting to your wealth advisor because your wealth isn’t growing fast enough is poor use of your energy (and the advisor’s patience). |
 |
| 4. Set timelines and priorities Decide what happens first (a GANTT chart is great at this). Some actions are sequential (can’t start until another finishes), others are parallel. This is why it’s a good idea to have several objectives that you can work on at the same time. Upskilling, for example, can be a long-term objective, but that shouldn’t stop you from getting cracking. Use a Gantt chart or even a simple spreadsheet to visualise the flow. 5. Define metrics and review cycles Include how you’ll track progress — KPIs, milestones achieved, or deadlines met. Then set a review program (weekly for short projects, monthly for long-term goals) and put those in your diary. Ask in each review: * What’s completed? * What’s delayed and why? * What needs adjusting? Personal plans should evolve with you. If you achieve a goal way before the deadline, maybe you aren’t pushing yourself, and the goals need to change. Celebrate the win, but don’t wait for next year to improve on it. In this Personal Wealth Plan, keep watching how much new wealth you’re putting away every month. Your Financial Planner will be able to tell you where and how to invest it, but just get those bucks to the starting gate so they can run. 6. Build in feedback loops Action plans fail when they’re rigid. Review, learn, tweak. If a tactic isn’t working, pivot — the goal is the destination, not the map. Above all, be kind to yourself. Don’t expect the plan to work exactly as projected on its first outing. |
 |
| 7. Summarise and communicate For ease of use, condense your plan to a one-page summary: * Vision * Mission * Objectives * Milestones * Key actions * Timeline * Topline tracking graph: 3 lines, Income, Consumption, New Wealth. Personally, I don’t favour sharing your plan. I know some people feel that it creates accountability, but having taken dozens of trips around the sun, and believe me, not everyone is going to support your dream and could even sabotage it. It’s far more satisfying to see the looks on people’s faces when they realise that they have significantly underestimated you. |
Consumption/Spending
I am not going to go into this aspect in much detail here; I have harped on about it extensively in the past. If you do the unpleasant and time-consuming task of tracking your expenditure over a couple of months, you’re going to know where the weak points are.
Get your financial advisor to check that you are correctly insured (life, short-term, medical aid) – but most of the rest is probably up to you. It is impossible to get as unemotional and analytical about spending as you can with wealth management and income, and everyone is different. There is no right or wrong, it just ‘is’.
Adult children or parents as dependents can be a huge drain on finances, but there is no easy answer or simple solution, for example. If you have a life partner, then planning on the consumption of your wealth, at the very least, should be done together. We all know that if the Minister of Procurement in the family (or Country, for that matter) is out of control, the Minister of Finance has a huge job on their hands. Financial advisors can only do so much – sometimes a life coach or counsellor is required.
Managing your wealth – the existing and the new.
As I said in the last part of this series, in my experience, the clients who have the most successful long-term journey do all the due diligence on how and where their funds are going to be invested up front. They understand how and why the various assets and vehicles have been chosen, and then they let time do its magic – with oversight, not micromanagement. (If you want a weekly condensed version of what markets are doing globally, let me know, and I will add you to our Newsletter and Podcast database.)
Micromanagement of your investment is going to be highly stressful (and drive your advisor nuts). Markets do what they have always done for centuries, they go up, and they go down, but in the long term (5-8 years at least), they inevitably give you real (inflation-adjusted) returns. Trying to be a clever duck and ‘time’ the markets is like trying to catch a falling knife – even if you’re a professional, you’ll probably catch the blade or pick it up off the floor and think that you can still save the game. You can’t. Many of my posts have gone into what to look for when choosing an asset class or advisor – so read those, do your due diligence.
One of the best bits of advice I heard, while doing my MBA a couple of decades back, goes like this: “The Bulls win, The Bears win, it’s the Pigs that lose”. If you waste your energy on when the top of the market is and obsess over taking every last bit of profit, you are going to be very disappointed. Earn more, spend less, create new wealth.