Self-made successful people have my deepest respect. Anyone who has worked hard for
something appreciates the time, effort and discipline that it takes to accomplish a significant
goal. They understand the perseverance, mental toughness and intensity required for success.
First generation millionaires are cut from this same cloth of distinction. The first-generation
millionaires that we work with have several characteristics in common: they have a strong work
ethic, are willing to take on calculated risks, have a passion for what they do and are not derailed
by obstacles that come their way. They do not make excuses, are strong thinkers and connect
with others to leverage expertise so that they can focus on theirs.

As net worth grows from six to seven figures, there are many elements that we focus on.
Keeping an updated net worth statement is important, as it keeps your finances organized and
begins a layout from which decisions can be made. Retirement projections can help us
determine how long you must work. Complex financial planning software performs a multitude
of useful tasks that are only as smart as the person using the tool and interpreting the data. A tax
report helps you understand what is likely your largest lifetime expense, and in many cases,
uncovers opportunities to tax-plan. Having adequate diversification across your investment
assets is generally well-understood by this point, however, having adequate tax-diversification
may have been overlooked. Tax diversification should be based on both your current and future
tax considerations. Managing risk can be done in many different ways, even transferring some
risks to insurance companies rather than assuming certain risks to your own personal finances.

Adding a second comma to your portfolio is both a celebration and a turning point. Many of the
people that we work for say it makes them both excited and a bit nervous, as the stakes have
risen in becoming a self-made, first-generation millionaire.