The Parthenon Principle

Have you seen a picture of the Parthenon in Athens, Greece? I will never forget walking up to the massive granite ruins. The size and power still remaining in a building constructed 2500 years ago is overwhelming!

Although the roof lies on the ground, in pieces, most of the columns that supported it are in place. There are a lot of columns!

I think of the Parthenon's roof often. If its' roof had not been supported by all those columns it never would have lasted as long as it did. By any standards, it lasted a long time.

I have a roof, which shelters my family and I call it a financial or revenue roof. It provides for all our basic needs. Revenue or income also emotionally supports us, and provides the extras we enjoy in our lives.

I do not want my roof to fall in. My Parthenon Principle is to support this financial roof with as many columns as possible. If one column of income collapses (and they always do) there are others to take the weight so that the complete revenue structure will not crash on our heads.

Another way to look at this is - do you have all your eggs in one basket? Is your entire income dependant on one source? What would happen to you if that source disappeared?

Last month, I lost my largest corporate client. It happens. This client had grown over the last five years, slowly utilizing more of my services and representing over eighty percent of our revenue.

I had let it get disproportional large. Fortunately, we were prepared with backups, and other 'standby' pillars of revenue, ready to be rushed in, to support the revenue roof.

Think about your income and revenue, and prepare for worst case scenarios. Make the choice today to support your revenue roof, and your income streams by using the Parthenon Principle.

1. Build an emergency fund of at least three months of expenses. Not only will this fund provide emergency support if needed, you will have a sense of financial freedom just knowing it is there. Think of it as a spare column for your roof. You might not need it, but it feels good having it!

2. Consider additional sources of income. Can you create something to sell? Is there somewhere you can add on part time work, doing something you enjoy, which would provide you with added income? Even a small amount of money will build a financial reserve, and give you an income if your primary source fails.

3. Eliminate your debt as much as possible. You can manage without income far longer if there are no monthly payments to be mailed.

Think Parthenon Principle!

Your online friend and Coach,

Miami Phillips
Helping others find their path - and stay on it.

Quotation of the Week

"Failure to prepare is preparing to fail." Mike Murdock

About The Author

Miami Phillips is an ANSIR Certified Personal Coach and the founder of Creative MasterMinds who believes personal growth is an essential ingredient to being happy and contributing to this world. While his main focus is affordable personal and business coaching, he also offers motivational teleclasses, ebooks, reading recommendations and much more. To find out more visit his site at or send him an email at [email protected]

In The News:

Want To Be Rich? Use These 5 Tips To Automate Your Wealth  ForbesYou can grow your wealth automatically. These tips show you how you can automate your finances to increase your wealth and achieve the retirement of your ...
Christal Jackson Is Building Wealth and Catalyzing Impact As A Venture Philanthropist  ForbesIn order to produce the next Mark Zuckerburg and Elon Musk, black founders need support. Christal Jackson is doing just that.
3 Renaissance Man Rules of Wealth Building  Stock InvestorOne year ago this week, with the help of an amazing and brilliant staff, I launched my lifestyle podcast and website, Way of the Renaissance Man. I chose the ...
Want To Build Wealth? Bring Your Spending In Line With Your Values  ForbesMany financial experts say the path to wealth is all about cutting spending. But that's only part of the story. The truth is that you can spend extravagantly if you cut ...
3 Wealth-Building Myths That Could Leave You Broke  Motley FoolDon't believe everything you hear. These common pieces of money-making advice have some serious flaws.
Despite 114% Growth Rate, Women-Owned Businesses Do Not Generate Same Wealth as Male-Owned Businesses  PRNewswireCHICAGO, July 18, 2019 /PRNewswire/ -- A new report produced by Asset Funders Network (ANF), in collaboration with Duke University's Samuel DuBois Cook ...
How to invest in real estate to build long-term wealth  Business InsiderIf you don't have the cash to invest in real estate by buying a property, try investing in a real estate investment trust (REIT).
'Wealth building' Sunshine Coast financial firm folds, liquidator appointed  The Weekly TimesA BUDERIM financial investment firm which uses Cash Flow Accelerators to guide clients through wealth building has gone into liquidation.
Did You Know That Tulsa Has a Wealth of Art Deco Architecture?  Architectural DigestA construction boom in the early 20th century turned this Oklahoma city into a hotbed of Art Deco architecture.
Build wealth by investing in your advisory business  InvestmentNewsYour investment in your firm will essentially grow tax-deferred as the value of the business increases.
African American Wealth May Fall to Zero by 2053  Black EnterpriseAccording to The Road to Zero Wealth report, the median wealth of black Americans will fall to zero by 2053 if current trends continue.
Asian Wealth Management and Asian Private Banking - Motilal Oswal: Building and Diversifying India's Asset Management Industry  HubbisAashish Somaiyaa, Managing Director and Chief Executive Officer of Motilal Oswal Asset Management, believes that the outlook for India's wealth management ...
When to use debt to build wealth, according to a financial planner  Business InsiderAvoid using loans or credit cards to pay for things that lose value over time, says certified financial planner and wealth adviser Helen Modly.
Black Families Can Build Wealth Through Homeownership  tntribune.comBy Clare Bratten. NASHVILLE, TN – The National Association of Real Estate Brokers (NAREB) came to the Opryland Hotel as a part of the Full Gospel Baptist ...
Tech co-ops circulating cash in Finsbury Park to combat offshore 'wealth extraction'  Islington GazetteLaunch of new tech co-op working space at 113-115 Fonthill Rd N4. Speakers at the launch event on July 12, 2019. include (front from left) Matt Brown leader of ...
How short-term thinking kills long-term wealth building – Dawn Ridler  BizNewsDawn Ridler shares what a wealth ecologist is and how you can harness some ecology ideas to grow your savings and investments in a struggling economy.
5 things I wish I could tell my 20-year-old self about building wealth  Business InsiderNow that I'm in my late 30s, I've learned that money isn't the point. It's how you use it to build a life you love that matters most.
Employee benefits to help employees build wealth  Employee Benefit NewsWith steep competition for talent, it's important to think outside the conventional benefits packages to help your workforce build retirement savings.
Hiring a Financial Adviser? Start the Conversation Simply with These Top 3 Questions  Kiplinger's Personal FinanceTo get the right help, you need to ask the right questions. Here are three questions that will serve you well.
Headwinds Build For Insurers And Wealth Managers  ShareCafeThe Australian general insurance sector's days in the sun are likely to be fading. At the upcoming reporting season attention will turn to FY20 and the global drop ...
Three Questions To Determine How Much Wealth You Can Build With A Rental Property  ForbesWhen calculating how much wealth you can build with your rental property, start by looking into how the following areas contribute to your wealth: net cashflow, ...
Is it necessary to invest in property to build wealth? it comes to saving and building wealth for retirement, is it essential initially to buy property? I live in Cape Town and earn R17 500 gross income a month, ...
The biggest bull market ever — yet disaster looms for millions of retirees  MarketWatchThe coming 'tsunami of poverty' for retirees — and what to do about it.
Retire Rich With These 2 Wealth-Building Stocks  The Motley Fool CanadaBuilding wealth doesn't have to be complicated. Want to retire rich? Invest in stocks with high quality management teams and a healthy growth profile.
Is Hargreaves Lansdown in wealth-creation mode?  Financial NewsSources say a few high-level Hargreaves peeps are looking at a way to fulfil the investment needs of affluent individuals.
Asian Wealth Management and Asian Private Banking - Crossinvest's Rohit Bhuta on Unravelling Asia's Wealth Management Conundrum  HubbisRohit Bhuta, CEO of Singapore-based independent wealth management firm Crossinvest, believes in the power of patience. He met with Hubbis to delineate his ...
Morgan Stanley reports drop in profit, but wealth management gains  CNAMorgan Stanley reported a 10per cent fall in quarterly profit on Thursday as low market volatility crimped trading and advisory revenue.
5 lies you've been told about rich people and money  Fast CompanySo you think you know how wealthy people spend? Here are the myths you've been buying into.
How To Become Financially Fit and Wealthy  EntrepreneurThe author of Financially Fit and Wealthy shares her top investment and wealth-building hacks and secrets.
How much should you allocate to gold in your investment portfolio?  Economic TimesLong-term return from gold might just be equal to the rate of inflation. Gold should be seen as a hedge against unforeseen events.
Want to grow the economy? Tax rich people like me.  Business InsiderIn June, venture capitalist Nick Hanauer signed an open letter to 2020 presidential candidates in support of a wealth tax on the super-rich.
Twin Cities home sales down in June  Finance and CommerceHome sales in the Twin Cities took a tumble in June compared to last year, while the median prices soared to new highs, according to data released Thursday ...
A Forgotten First Step in Wealth Creation: Emergency Funds  Kiplinger's Personal FinancePutting aside money for a rainy day (and it WILL rain one day, don't kid yourself) can pay off in many ways, including lowering your stress.
Wealth is nothing without liquidity  Gulf NewsRejoice, people of Earth! News outlets are reporting that Nasa is planning to visit an asteroid made of gold and other precious metals! At current prices, the ...
How Sun Pharma's Dilip Shanghvi reacted to pipping Mukesh Ambani  Quartz(Dilip Shanghvi worked his way up from a tiny shop in the bylanes of Kolkata in the 1970s to create one of India's most valuable enterprises—Sun ...
How to build wealth within a trust  Independent OnlineALL ABOUT TRUSTS: With July being Savings Month, you should consider how a trust can assist you to build your wealth during ...
Donald Trump Hates America  The New York TimesSo apparently Donald Trump wants to make this an election about what it means to be American. He's got his vision of what it means to be American, and he's ...
Trickle-up economics  ProspectHow Cleveland, Ohio, and Preston, Lancashire, are bringing it all back home.
All Major Bitcoin Forks Shown With a Subway-Style Map  Visual CapitalistBitcoin forks play a key role in Bitcoin's evolution as a blockchain. While some have sparked controversy, most Bitcoin forks have been a sign of growth.
Azim Premji speech FULL TEXT: The 'trustee' of Wipro wealth bids farewell  International Business Times, IndiaAzim Premji, the iconic businessman who built software services giant Wipro from scratch, will step down as its chairman at the end of July. The $8.5-billion ...
Nine ways to rejuvenate Chicago's forgotten neighborhoods  Crain's Chicago BusinessDisinvestment has devastated entire city neighborhoods and is the reason many longtime owners are trapped in negative equity and living in substandard and ...
Proposed Wealthy Street grocery store approved by Grand Rapids commission  MLive.comMetric Structures wants to build a two-story building, housing a small grocery store, at 1201 Wealthy St. SE.
Abigail Disney isn't the only wealthy heir to speak out about income inequality  CNNShe may be the best known and the most vocal, but Abigail Disney is far from the only heir to a well-known fortune who has spoken out about the perils of ...
India becomes investment darling for sovereign wealth and pension funds  LivemintLondon: Sovereign wealth funds are piling into India, buying stakes in everything from airports to renewable energy, attracted by political stability, a growing ...
Updated Forward Features Schedule To June 2020  WealthBriefingAsiaBelow is our updated forward features list for the WealthBriefing and WealthBriefingAsia news services which runs until the middle of 2020. (There is a separate ...
Baby boomers and millennials face even wider generational wealth gap  Business InsiderAccording to Federal Reserve data analyzed by MagnifyMoney, baby boomers and millennials are now farther apart in wealth than comparable generations 20 ...
Syfe raises US$3.8M funding to launch digital wealth management services in Singapore  e27Syfe combines proven investment strategies with an algorithm to give investors customised, globally diversified portfolios that are in sync with their personal risk ...
Taking a holistic approach to safeguarding family wealth  The AssetHaving a holistic approach and a robust investment strategy is vital for safeguarding family wealth, says family office executive Maria Liu.
How we're doing Corbynomics – in Jeremy Corbyn's own backyard  LabourListThe next Labour government is already committed to creating inclusive and socially just local economies. And Jeremy Corbyn's community wealth building ...
MONEY THOUGHTS: Dare you be a win/win wealth builder?  New Straits TimesIs there a better way to live and interact with our fellow human beings than by constantly attempting one-upmanship?
The A Team Property Group on building wealth  Finance News NetworkThe A Team Property Group CEO, Sasha Hopkins, talks about success through property investment, his journey from property consultant to investor and mentor ...
(Re)Discovering a New (Old) Idea - Non Profit News  Nonprofit QuarterlyJune 28, 2019; Associated Press. Ohio's state treasurer, Robert Sprague, recently announced that state's commitment to address some intractable social issues ...
How living in an Afrikan mud-hut safeguards the eco-system whiles building wealth  Face2Face Africa“Privilege, you see, is one of the great adversaries of imagination; it spreads a thick layer of adipose tissue over our own imagination.” – Chinua Achebe.
Here’s why MOST financial advisers can’t help you grow wealth – SA money expert  BizNewsThere are many intermediaries willing to sell you insurance and find a parking place for savings - but few will help you massage assets in the long run.
Budget 2019 | Wealth tax – The idea is to play fair, but is the time ripe?  Moneycontrol.comChances are wealth tax might make a comeback. Even so, the government would do well to put safeguards in place to ensure the common man is not put at a ...
Amit Dogra Joins Sanctuary Wealth as Chief Experience Officer  Business WireAmit Dogra has joined Sanctuary Wealth as Chief Experience Officer (CXO). A role traditionally seen only within Silicon Valley technology companies, S.
AI-powered wealth platform Rosecut targets £3.2trn affluent market  International InvestmentNewly launched wealth management platform powered by artificial intelligence Rosecut is aiming to serve the affluent 'middle-market' investors by offering ...
Commentary: Follow the Jews, generational wealth will also be your lot  Caribbean News NowA good friend of mine who practice medicine in Brooklyn New York for decades told me recently, he came with two takeaways from frequenting the Jewish ...
Louisville must bridge the wealth gap that separates the east, west and south  Courier JournalIn the West End, there is a banker for every 1600 people, whereas in eastern Louisville, there is a banker for every 200 people.
Family finance: Businessman Mathur needs to build a bigger emergency corpus  Economic TimesVishvas Mathur, 40, has recently started his own business and brings in rS 96,000 a month. He stays with his homemaker wife and 11-year-old child, ...
What Creates Our Wealth?  ValueWalkWhen most people are asked "what creates wealth", they miss the most crucial aspect of all - our investment in common assets.
The Future of the City Is Childless  The AtlanticAmerica's urban rebirth is missing something key—actual births.
Family finance: Mahajans need to reduce debt to achieve their financial goals  Economic TimesAhmedabad-based Mahajan's goals include building an emergency corpus, saving for their kids education and weddings, and their own retirement.
3 Dividend Aristocrats Yielding 5% or More to Build Wealth Faster  Yahoo Canada FinanceSeeking to build wealth and achieve your investment goals sooner while building a recurring, steadily growing stream of passive income? Then look no further ...
Mayfair 101 builds on IPO Wealth success with new Mayfair Platinum fixed income product  Proactive Investors AustraliaIPO Wealth (PRIVATE-AU:IPOoo) - Investors are increasingly seeking non-bank alternatives offering reliable returns in a low interest rate environment.
Salem man mixes wealth of history into popular ghost tour  The Salem NewsAn eloquent speaker, sounding more like a seasoned interpreter than an 18-year-old recent high school graduate, Jake Stotler instantly captured the crowd's ...
Building household wealth through home ownership  WATE 6 On Your SideKNOXVILLE, Tenn. (WATE) — HomeSource East Tennessee joined us with great advice on taking steps towards home ownership. The organization offers a ...
Ritholtz Wealth launches Betterment-powered robo advice platform  InvestmentNewsRitholtz digital platform getting a second liftoff with Betterment for Advisors.
Edgar Villanueva: the racial wealth gap and American charities  Vox.comYou've heard of the racial wealth gap. Meet the racial philanthropy gap.
Wealth Wizards hires former Prudential executive as commercial head  AltFiThe Leamington Spa-based personal finance fintech also hired a former Accenture managing director as its chairman last month.
Deutsche Bank Considers Subletting Zig Zag Offices in London  BloombergDeutsche Bank AG is considering subletting the London offices occupied by its wealth management business and its asset-management arm DWS Group, ...
I’m in the 1 Percent. Please, Raise My Taxes.  The New York TimesWealthy people like me should commit to reducing the ravages of economic inequality.
The system is broken: today’s young will never get the payoff they've been promised for your future, we always say here on the Money desk, is a good idea.
Berks financial advisers provide guidance in navigating a maze of options  Reading EagleBuilding wealth is not easy and managing wealth can create another set of challenges. Wealth management is a combination of financial planning and ...
Yes, You Can Build Wealth In Your 20s -- Here's How  ForbesHere's how 20 year-olds can start building wealth today in 6 simple steps.
Avoid auto, FMCG and commodity driven plays for now: Sanctum Wealth  MoneycontrolWe'd generally avoid FMCG on valuation. Also, we would avoid autos until clarity on a turnaround emerges, and also avoid commodity driven plays, Sunil ...
The First 5 Steps To Building Wealth  ForbesRetirement is the one expense in the world you cannot borrow for, so building wealth throughout your career is essential if you ever want to reach financial ...
Aggressive portfolio: IIFL picks 13 stocks for long term capital appreciation  MoneycontrolGiven the way mid and smallcaps have tanked in the last two years, it is wiser to allocate the majority of portfolio weights towards largecaps and the rest in ...
How to keep your wealth in the family  SowetanLIVE Sunday WorldSouth Africa has the most dollar millionaires in Africa and is one of the fastest growing ultra-wealthy populations on the continent, according to the latest Knight ...
Rick Singer, the mastermind behind the college admissions scandal, knew whom to target: the wealthy  Los Angeles TimesFor years before his college admissions bribery scheme was discovered, William "Rick" Singer built close ties with financial advisors at investment firms.
Ecobank guilds customers on wealth creation  The Nation NewspaperEcobank Nigeria has organised a wealth-building and sustainance breakfast forum for its High Networth Individual (HNI) customers. The lender used the forum ...
India Becomes Investment Darling For Sovereign Wealth, Pension Funds  NDTV NewsSovereign wealth funds are piling into India, buying stakes in everything from airports to renewable energy, attracted by political stability, a growing middle class ...
MSMEs drive job and wealth creation, poverty eradication and sustainable development  The Patriot On SundayIn 2017, a resolution, in recognition of the important role that Micro, Small and Medium-sized Enterprises (MSMEs) play, was adopted by the UN General ...
Business centre to be launched at Uganda-German symposium  Daily MonitorA Ugandan University has been earmarked as beneficiary of a model of post-harvest training and *service* centre for skilling the youth and women in order to ...
The Hidden Wealth Solution Announces their Newest Online Educational Webinar Offering Time to Support the Over 10,400 Baby Boomers Retiring per Day!  PR WebLake Mary, Florida (PRWEB) July 19, 2019 -- Chuck Oliver, two time best-selling author and founder of The Hidden Wealth Solution announces his newest ...
3-Step Strategy for Building Generational Wealth in Today’s World  Banyan Hill PublishingLearn my three-key strategy for becoming a forward-thinking income investor to build generational wealth in today's new world.
Bexar's Eye: A Small Corner of Lackland AFB Holds a Wealth of Military Aviation History  Rivard ReportTucked in a far-off corner deep inside Lackland Air Force Base sits a trove of local aviation history. The U.S. Air Force (USAF) Airman Heritage Museum boasts a ...
HUL shareholders' wealth doubled in 3 years. Are the best days behind it?  MoneycontrolShareholders of Hindustan Unilever enjoyed substantial growth in their investment as the share price of the company more than doubled in the past three years.
Kirsh, Oppenheimer, Rupert dominate Africa’s latest Rich List  BizNewsKirsh got his from wholesaling and property, starting again from scratch in the US after losing his SA operations to the interest rate crisis of 1986.
Taking charge of the family's wealth  The Business TimesWealth (July 2019): THE BUSINESS TIMES Magazines - MOST scions of ultra high net worth families are set for an executive role at the helm of a family ...
Working from home: Grants aimed at home-based businesses and job creation  Ruidoso NewsYour browser does not currently recognize any of the video formats available. Click here to visit our frequently asked questions about HTML5 video.
How to build wealth in 4 steps, according to millionaires  Business InsiderBuilding wealth involves a four-step process: Growing income, controlling spending, investing in index funds, and investing in real estate.
Financial planners: The best way to build wealth is automatic savings  Business InsiderFinancial planners say automating your savings is the best way to build long-term wealth. Here's how to do it.
Norway wealth fund, Axa to sell office property in Frankfurt  ReutersNorway's $1 trillion wealth fund, the world's largest, and France's Axa have agreed to sell an office building in Frankfurt to Invesco Real Estate, the fund said on ...
Signs you're not building wealth and tips for fixing it  Business InsiderYou're probably not on the path to wealth if you live above your means or if you haven't started investing. Here's how to change that.
Building Wealth With a Higher Purpose  Kiplinger's Personal FinanceThis former monk found out the hard way that money is not the root of all evil.
Kevin O'Leary of 'Shark Tank' to give free talk on maintaining wealth  TribLIVEKevin O'Leary, of ABC's “Shark Tank,” is slated to speak at Pittsburgh's Byham Theater on July 30, starting at 6 p.m. O'Leary will speak on keys to moving ahead ...
Property slump wipes $500b from wealth  The Australian Financial ReviewLast year was the steepest fall in household wealth since 2009 and PIMCO expects house prices in major cities to fall a further 5-10 per cent in the next 12-18 ...
Listed wealth management firm opens new office  Insider MediaA Cirencester-headquartered wealth management firm has opened up a new office in Cardiff.
Onc Wealth Ambassadors Expected To Be Prosperity Game Changers  New VisionBy Milly B. Babalanda. Last week, the Office of the National Chairman (ONC), NRM-Kyambogo hosted a one-day seminar for newly selected “wealth ...

Build Wealth - Formula To Success

A mole travels one road, according to the way nature... Read More


An ellipsis to your success is hidden in the word... Read More

How to Save Money and Take the Vacation You Always Wanted

Many people don't realize how much money they spend on... Read More

Why Get Rich When You Can Be Wealthy?

"Any fool can rich, the wise get wealthy." Chris WidenerGetting... Read More

Personal Budget Programs

Do you have financial problems? Then a budget is the... Read More

Wealth - 10 Basic Steps to Achieving It

Everyone wants to be wealthy. Only a few actually achieve... Read More

How Much Do You Need To Earn Per Hour To Achieve Your Yearly Financial Goals

Have you ever asked yourself what your highest income producing... Read More

Jobless? You Stand To Be Rich!

This is a true story about a homeless man from... Read More

Still Using Federal Reserve Notes?(How to Beat Inflation)

"My people are destroyed for lack of knowledge." Hosea 4:6... Read More

Tax Strategy - Theres More to Building Wealth than Clipping Coupons

We talked recently about the wealth formula:Spend less than you... Read More

How to Have MORE Fun With YOUR Tax Refund in 2005

I counsel a LOT of people about money. I see... Read More

Clearing Blockages to Increase the Flow of Money into Your Life

Money is probably the most challenging thing for many people... Read More

Trustees: Who Can You Trust?

Early in my legal career I represented two young women... Read More

Wealth Building Strategy

There are many of us who are working on our... Read More

Want Money? You Got It!

Six out of six people who were asked to list... Read More

A College Degree or an MBA is NOT NEEDED to be Financially Free

Look at Forbes' top 10 United States wealthiest people. Notice... Read More

The Top 10 Steps to Becoming a Millionaire

There is perhaps no more important decision than to take... Read More

How To Get Investors And Bankers To Part With Their Money For Your Business

Time and time again entrepreneurs are losing out on getting... Read More

The 11 Best Money Saving Ideas of All Time - Part 2

At any time in history, no matter what the current... Read More

Build Wealth From Home

As you sit in traffic, inching along between irate drivers,... Read More

My Entrepreneurial Fire-I Grabbed My First Million Before I Got Too Old

My First Million took me exactly 27 months to achieve.... Read More

How I made $122,000 and lost $132,000 - A lesson in Assets vs Liabilities

This is a true story from my own experience that... Read More

How to Grow Your Very Own Money Tree

Okay. So money doesn't really grow on trees. Unless you... Read More

Cost Averaging - It Makes Sense (Dollars & Cents)

It's no secret that the market goes UP...the market, goes... Read More

Retirement Planning the Offshore Way

Retirement Planning the Offshore Way Why do so many of... Read More