TWAPE MAKES WEALTH CREATION REAL
The greatest people of our time are great because of their consistency. The Mona Lisa is considered a masterpiece because of the artists’ body of work – consistency. Cristiano Ronaldo is considered one of the greatest footballers of all time because he has consistently performed at the highest level for an extended period. It is not enough to be consistent for one season and then never again. In school, as it is in life, you are rewarded when you are consistent in how you study, how you make notes, how you attend lectures and how you prepare for exams.
How about consistency in wealth creation? What kind of people ought to spearhead the conversation within Africa on Wealth Management and Personal Financial Planning? In an economy such as Malawi where financial literacy across the board is seriously lacking, there is need for specialists who will help people become aware of the options available to them and arm them with knowledge to make informed financial decisions.
Twape Mtila is an Offshore Wealth Specialist & Financial Advisor at Carrick Wealth Management with a Bachelor’s Degree in Economics and Finance and a Master’s in International Trade & Economics. His educational background in economics and finance have been vital in establishing his clients investment needs and outlining how to achieve them.
His specific work is centered on offshore wealth management which is mostly understood as a foreign concept – with many people previously telling him it was a waste of time and that it would never work in Malawi. A view that does nothing to blur Twape’s focus on becoming the best financial advisor he can be in Malawi and across Africa.
With time and introspection, Twape realized how people see you and your capabilities in different situations and any other areas in life, has nothing to do with you and everything to do with them. This is part of the reason he believes that in order to create meaningful value for our individual futures, each one of us must change the way we think, especially where wealth and wealth creation are concerned.
A quick background on what wealth creation is all about. It is based on the accumulation of various types of assets, Twape explains. This ranges from cash to real estate and various other financial instruments. The most important aspect of creating wealth is that in most instances it takes time; the accumulation process can take several years. That’s the reality of it. The importance of being consistent in creating wealth is that if you get it right and are patient, it cushions you to live life comfortably, enabling you to draw from it for various events in one’s life (e.g. funding your children’s education, medical expenses, retirement etc.). It is the also the foundation on which generational wealth is created for the future of one’s children and dependents.
Twape’s vision and sense of purpose was not always this crystal clear. He experienced tension and frustration trying to find his path in life. Despite ticking all the right conventional boxes, finishing university and getting a good degree, he still didn’t know what he wanted to do in life. While caught up in the overwhelming feeling of “what do I do now?”, he always felt the great challenge was in being torn between feeling fortunate enough to have a job and knowing deep down in your heart that it is not what you really desire nor is it the vocation that makes you feel alive.
Those moments taught him a new appreciation of time and the value it adds to your goals and dreams. Most times, your current job might not be where you really want to be, but that does not mean it is not where you need to be. Twape believes every experience builds you up for the next win, the next challenge and the next audition. You have to make sure that you are making the most of every day as a way of preparing yourself for your time to shine when it comes, bearing in mind that time is not your nemesis and you are not in control of how it flows relative to your dreams.
Many of us can relate to being in a professional environment where we are made to feel as though our ideas are not valid because of our young age and inexperience. Twape’s experience was no different, he’s been there. He sees the need to create environments in which young people can gain experience and learn from those who have gone before them without prejudice and also from those, older or younger, who can contribute to their personal and professional development. What he discovered was that a lot of cohorts are not willing to share/mentor/nurture the new ideas young people have, which cultivates a culture of silence where one is expected to toe the line because “this is how things have always been done”; a narrative which needs to change.
Twape credits his supportive family for always reminding him of his ability to achieve anything he wanted. The greatest gift his father ever gave him, he says, was when he told him that his dreams could be as big as he wanted them to be, and as long as his work ethic was equally audacious, he could make them real. His wife has also been instrumental in his journey of self-belief, self-love and self-respect. He says he has been able to create a career that suits him as a result of his wife’s love and support from when they first begun dating to when they got married. She has been a big part of how he now sees himself as worthy of success and his ability to dream beyond what other people see and understand.
Finding that space where you get to be your true self sometimes means creating it for yourself, be it in art, in business or in work. Celebrating the success of friends and colleagues should be part of creating a culture that inspires each one of us to lift one another up so we can all grow, realizing that someone’s light shining does not dim our own, Twape adds.
The main principles in wealth creation are planning, adapting and control, Twape says. To create wealth, one must have a solid plan which clearly outlines how you will make the necessary decisions to build your wealth, this forms the basis of the discipline required to follow your plan through (e.g. investing $500 from my salary every month for 10 years into a portfolio made up of mostly stock/equity to have funds for my sons university education fees).
Secondly, you have to be able to adapt your plan and change direction with time. Circumstances change all the time as new information becomes available (e.g. stocks and equities have taken a downturn and I wish to shift most of my portfolio towards government bonds). Lastly, the control aspect of wealth creation is important because it enables you to create consistency. You cannot stop and start; your full commitment is crucial to taking ownership of why you started the process without losing track of the goals outlined in your plan
Going to work every day and making a difference by helping people make decisions that will better their lives financially, gives Twape the satisfaction of fulfilling his life purpose. His tips to attaining success one step at a time are: to listen without judgement, speak without fear, ask when in doubt and finding a mentor in the field you feel most passionately about who will be able to teach you without prejudice.