Let’s say luck struck our way and we amassed massive wealth through real estate investing. Therefore, we must learn how to keep our money. And, if it’s wealth management we want to learn, then we should literally “go up.” Where? To Canada.

This weekend, our dear neighbor will host the Group of 20 wealthy nations and it perhaps will take great pride in what it has been doing while the other rich countries were facing a banking and finance meltdown. “We should be proud of the performance of our financial system during the crisis,” Canadian Finance Minister Jim Flaherty said. Why not? Those in real estate investing should listen very well.

Former Canadian Prime Minister Paul Martin, the former finance minister known to have led efforts to give the government 12 years of budget surpluses, puts it in 11 words. “Our banks were just better managed and we had better regulation.”

Or if we further break them down to two concepts, they would be “better management” and “better regulation.” How exactly do we apply this in our wealth gained from real estate investing? You’re probably good with wealth management and you know where to invest your money in. As for the regulation part, that’s another story.

To regulate your wealth, make sure you know how much you are spending in a period of time, say, every quarter of the year. It will help if you list down your major expenses. A mental tally is not enough. Make your own “balance sheet.” Also, discipline yourself; Don’t but everything in one night.

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