Four Steps to True Wealth
by Christopher T. Wood
Category: Business & Economics

BOOK REVIEW Alec Franklor-´Spirit of Change´ March/April 2004 "True wealth is achieved when all aspects of life (material, emotional and spiritual) coalesce harmoniously...it has little to do with what is possessed." In his book ´Four Steps to True Wealth´, Christopher T. Wood assists us in making financial planning a part of the actualization of one´s life purpose. In taking us through the steps of recognizing what is important in our own lives, Wood shows us that how we feel about money may be creating road blocks to the actualization of personal and financial goals. Wood, a Financial Life Advisor, explains the classic methods of wealth accumulation and gives advice on how to weight your portfolio based on your unique goals. While enough information is given to begin investing on your own, advice is also given on finding competent professional assistance. What makes Wood´s book unique in the world of financial planning is his adherence to the "social contract: the ability to receive material wealth in exchange for an active role in giving back to the positive evolution of society." He advocates that there is nothing in the nature of most goods and services that makes them bad. In this way, he postulates that money is not the root of all evil, but the love of money that causes problems. Wood places his financial advice in the context of how American society has arrived at the current definition of wealth and the history behind our current financial market. In addition he critiques corporate and investor greed and notes class inequities created by society´s inappropriate accum-ulation of wealth. Although a holistic perspective to financial decision-making, Wood refrains from talking about socially responsible investing.