One of the oldest and truest adages, "easier said than done," resonates deeply when it comes to building wealth. Why? Because wealth-building is like climbing a mountain—it requires consistent effort, deliberate intention, and a plan. Think of it as preparing for Mount Everest: you don’t just leap to the summit; you prepare, acclimatise, and take each step strategically.

Intention is the key. For instance, during the COVID-19 pandemic in 2020-21, financial assets and incremental growth reached 15% of the GDP—a surprising trend given the economic downturn. Post-COVID, as the economy rebounded, financial asset flows slipped to 5.1%. This shift reveals a deeper truth: wealth often grows not in times of abundance but during crises. Why? Because wealth-building is more about behavior—deliberate actions and habits—than external circumstances.

There are countless stories of ordinary individuals achieving extraordinary financial success by adhering to disciplined financial practices. Consider Ronald Read, a janitor who became a multi-millionaire through consistent saving and investing, or think of the countless others who followed a methodical approach to wealth-building. The lesson? Building wealth is not about where you start but about how you act.

Your intent and behavior with money are your most powerful tools. Like the climb to a summit, you might face challenges, but with persistence, you can develop a strong relationship with money, paving the way for success.

Understanding What Matters to You

"Comparison is the thief of joy," and it’s also the killer of personal growth. Just as every climber chooses their mountain, every individual’s financial goals, resolutions, and priorities are unique. Instead of comparing yourself to others, focus on identifying what truly matters to you.

For example, you might dream of an international vacation or buying a long-awaited piece of furniture. Here’s where the analogy of acclimatisation comes into play: evaluate not just the costs but the overall impact. While travel could bring unforgettable experiences and broaden your horizons, the furniture might improve your comfort or enhance your living space’s aesthetics. Each choice reflects a different "peak" on your financial journey.

Data supports the power of planning: Fidelity’s 2025 Financial Resolutions Study revealed that 72% of respondents with a plan felt confident about reaching their financial goals. Planning doesn’t just enhance confidence—it significantly increases the likelihood of success.

Whatever your financial goals, ensure your decisions are well thought and don’t disrupt your other commitments. Execution is like the careful climb to a summit: each step must be intentional and balanced. By adopting a strategy that encourages thoughtful reflection, you’ll not only build a better relationship with money but also set the foundation for achieving your dreams.

How to start

Building wealth is much like climbing Mount Everest—a journey that requires preparation, endurance, and determination at every step.

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