Invisible Wealth

JENNIFER WINES worked at some of the top Private Wealth Management institutions in the world, namely Goldman Sachs, JPMorgan, and Fidelity. She earned her Juris Doctor from Suffolk University Law School in Boston and her Certified Private Wealth Advisor designation from Booth Business School in Chicago. While at Fidelity, she developed a proof of concept and prototype for an enterprise solution, which was advanced into incubation. Her strong background with words (law) and numbers (finance), paired with her entrepreneurial spirit make her a trusted voice on the topic of redefining wealth, for the new wealth paradigm.

Preface xiii

Part I 1

Chapter 1: Defining and Redefining Wealth 3

The Relationship Between Wealth, Money, and the Economy 3

What Is Wealth? 4

First Principles Thinking 4

The Etymology of Wealth 5

What Is Money? 6

Commodity Money 8

Representative Money 9

Fiat Money 10

Electronic/Digital Money 11

Bitcoin 12

Central Bank Digital Currency 14

What Is an Economy? 15

The Bartering Economy and the Money Economy 15

Adam Smith: The Economy, Money, and Work 16

The Digital Economy 18

The New Wealth Paradigm 19

Chapter 2: A Rich Opportunity for the Unluckiest Generation 21

Past: Why Are Millennials Called the Unluckiest Generation? 21

Lucky Tailwinds 22

Unlucky Headwinds 24

From Numbers to Stories 28

Present: Are Millennials Still Unlucky? 30

Future: A Rich Opportunity for the Unluckiest Generation 32

Chapter 3: We Can’t Put the Genie Back in the Bottle 35

The Great Wealth Transfer 35

The Great Migration 36

Migrating 37

Migrating Online 39

The Great Resignation 40

The Great Restructuring 42

Entrepreneurial Spirit Animals 44

Digital Darwinism 46

Part II 49

Chapter 4: The 5 Principles of Invisible Wealth 51

The Wealth of Money and Investment 54

The Wealth of Health and Quality of Life 55

The Wealth of Knowledge, Status, and Influence 56

The Wealth of Time, Energy, and Experiences 57

The Wealth of Relationships, with Self and Others 58

Chapter 5: The Wealth of Money and Investment 59

The Relationship Between Money, Investment, and Wealth 60

Making Money 60

Multiple Streams of Income 61

The Creator Economy + Web 3 62

Inheriting Money 64

Spending Money 64

Saving Money 66

Investing Money 67

Investing Before the Internet 68

Retail Revolution 68

Public and Private Markets 69

The Democratization of Wealth 70

Sustainable Investing 72

Blockchain and Digital Assets 73

What Is Blockchain Technology? 74

Decentralized Finance (DeFi) 74

Societal Implications of Wealth Creation 77

Chapter 6: The Wealth of Health and Quality of Life 79

The Relationship Between Health, Quality of Life, and Wealth 79

Wealth of Health: The Foundation on Which All Else Is Built 80

What Is Health? 82

Physical Health 82

Mental Health 85

Spiritual Health 88

What Is Quality of Life? 91

Living 92

Working 93

Playing 94

Chapter 7: The Wealth of Knowledge, Status, and Influence 97

The Relationship Between Knowledge, Status, Influence, and Wealth 98

What Isn’t Knowledge? 98

Information Versus Knowledge 98

What Is Knowledge? 99

Using Knowledge 100

The Knowledge Doubling Curve 101

The Knowledge Economy 102

What Is Status? 103

Status Through Abilities and Achievements 104

Status Through Associations and Affiliations 105

Status Symbols 107

What Is Influence? 108

Personal Brand and Influence 108

The Influencer Economy 110

Chapter 8: The Wealth of Time, Energy, and Experiences 113

The Relationship Between Time, Energy, Experiences, and Wealth 114

What Is Time? 114

Time Value of Money 116

Monetary Value of Time 116

Technology and Time 118

What Is Energy? 119

Energy and Work 119

Managing Time and Energy 120

The Pareto Principle 121

The Attention Economy 122

What Are Experiences? 123

Extraordinary Experiences 123

Ordinary Experiences 126

Experience Economy 127

Chapter 9: The Wealth of Relationships with Self and Others 129

The Relationship Between Our Relationship with Self, Others, and Wealth 130

What Is a Relationship with Self? 130

Intuition 132

What Are Relationships with Others? 132

Relationships and Technology 135

Relationship Capital™ 136

Relationships and Money 137

Technology 137

Dating: The Paradox of Choice 138

Marriage and Money 140

Part III 143

Chapter 10: Personal Wealth Algorithm 145

The Relationship Between Principles, Values, and Wealth 146

Collective Principles 147

P1: Wealth of Money and Investment 147

P2: Wealth of Health and Quality of Life 148

P3: Wealth of Knowledge, Status, and Influence 148

P4: Wealth of Time, Energy, and Experience 149

P5: Wealth of Relationships with Self and Others 150

Individual Values 150

Collective and Individualistic Culture 151

Personal Wealth Algorithm 153

Practical Application 153

Wealth Goals Change, Too 157

Chapter 11: Personal, Renewable Resources 159

The Relationship Between Environmental and Personal, Renewable Resources 160

Environmental, Renewable Resources 160

Non- renewable Energy 161

Renewable Energy 162

Personal, Renewable Resources 163

Attaining Your Wealth Goals 163

Your Renewable Resources Are Your Superpowers 165

Inside Out 166

External, Renewable Resources 167

Where Wealth Begins 168

Notes 171

About the Author 191

Index 193