The Accumulator Wealth Profile
“Collecting appreciating assets”
The Accumulator is the safest profile
They rely on a system to achieve incremental wealth growth. Many wealth seekers choose this approach but as it is also the slowest, they get itchy feet and move on before they achieve the success they hoped for.
Many see accumulators as indecisive and procrastinators
And they often go unnoticed. Warren Buffet is possibly the world's most well known accumulator. When Buffett appeared on the TV program, Money World, he was asked what investment advice he would give a money manager starting out. "I'd tell him to do exactly what I did 40-odd years ago, which is to learn about every company in the United States that has publicly traded securities." Moderator Adam Smith said, "But there are 27,000 public companies." Buffett replied, "Well, start with the A's."
While Traders create wealth by accelerating money flow, Accumulators create wealth by decelerating it
Rather than making money by buying and selling off waves, they make money by buying and holding on rising tides. Accumulators always prepare and the most successful ones can be found doing their homework. As Warren Buffett said in an annual report, "Noah did not start building the Ark when it was raining."
Accumulators are steady and dependable
If the profiles were compared to a football team, the Stars would be the strikers while the Accumulators would be the keepers. While Stars are quick to spend, Accumulators are quick to save.
Accumulators often fail as a result of keeping too much to themselves instead of building the advocates who will network on their behalf.
They rarely act on impulse, and fail if they have not set the criteria to take action. Often accused of procrastinating, they simply need more data to make an informed decision.
Once Accumulators connect to the right team they can quickly be lifted while keeping the team grounded.
They ensure that everything is in order and that what needs to get done gets done on time. Successful Accumulators are happy to remain down-to-earth, holding the kite strings while others fly high.
Examples of successful Accumulators
Warren Buffett, Benjamin Graham, Sandy Weill, Li Ka Shing and Paul Allen.
Watch Roger Hamilton talking about the Accumulator Profile:
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