Wealth = The ability to withstand uncertainty + The freedom of active choice

It includes:

1. Assets (physical/financial instruments that can retain or even increase their value)

2. Abilities (skills that allow you to survive and thrive anywhere)

3. Relationships (networks, communities, social capital)

4. Identity (the ability for legal migration and asset overseas)

5. Cognition (insight into trends and wisdom to avoid being exploited)

In summary, the three main risks to wealth during a recession are:

1. Currency devaluation: Wealth appears unchanged while actual purchasing power shrinks.

2. Asset bubble burst: The short-term bubbles in real estate, stock markets, and cryptocurrency will eventually burst.

3. Policy taxation: The more concentrated the wealth, the more likely it is to become a target for "redistribution."

The mindset towards wealth in this era is:

1. Income should be "counter-cyclical," and assets should be "resistant to systemic risks"

• More sources of income that do not rely on specific countries (online, foreign currency, freelancing)

• Possess assets allocated across regions (overseas accounts, physical gold, diversified investments)

2. “Not being swallowed by the system” is more important than “beating others”

• Preserving principal and preventing black swan events is the premise for long-term wealth accumulation

• Do not chase high returns or heavily invest in a single country or currency asset

3. The liquidity, privacy, and security of assets are key

• Own “mobile” assets: gold, digital assets, dollar assets, overseas assets

• Consider trust structures or asset isolation methods to enhance defensive capabilities

Of course, the strongest wealth is still “yourself.”

In an era where the old order collapses and the new order is uncertain, what truly carries you through cycles is not the numbers in your bank account, but:

• The way you see the world

• Your ability to make decisions for yourself

• Your capability to survive anywhere

• Your confidence to say “no” at critical moments

In summary: True wealth is not about how much money you have, but how many possibilities you have in the future.

Translated from "The Lonely Brain"