Water of Life: Three Ingredients and Time

by Jeffery A. Keill, CFP, CIM, FMA, FCSI, CEA

Teri and I had the luxury of travelling to Scotland a few years ago. The journey was made great by the people we met, the people we journeyed with, and of course the “Water of Life” - also known as Whiskey or Whisky (the spelling depends on where you live and so I will write this interchangeably not to offend Scotches, Bourbons, and our own Canadians).

The funny thing about whiskey, no matter where it is from, it takes only three ingredients to make. Water, Grain and Yeast. The rest is process and time or as some would argue - time-tested science and patience. Everyone can get the basic ingredients, quality processes, and time to age. No good whisky, if it is to be called whisky, can be done in five years. Imagine any whisky that was left to age for only a week?! Ick. The longer it matures the better the whisky becomes. The better the whisky becomes - well, the more valuable the whisky is.

What has this got to do with growing wealth? Well, growing wealth only has three basic ingredients: Capital, Return, and Time. This is expressed with the basic acronym “PIT”, which stands for Principle, Interest, and Time. What is interesting (no pun intended!) is these simple ingredients are available to everyone (in differing amounts). As with whisky, the most important part of this process is time. In order for the basic ingredients of Capital and Return to grow into something of immense value, we need to stick with a time -tested process and allow for the aging process (time) to occur. The longer it takes, the more valuable it becomes.

What is truly unfortunate - many lack this wisdom even though they may have the knowledge. These are, without a doubt, time tested processes that prove time and time again to produce life changing wealth. Yet people still try and make their wealth quickly. You cannot rush wealth, just like you cannot rush a good whisky. Wealth is not made by great stock trades, by picking the bottom of the market, or timing the top. It is made slowly, patiently, quietly, and yes, often boringly... as boringly as watching your dog run away on prairies. Next time you are thinking about your investments, grab a dram of a quality Scotch and have a look at the bottle and peer into its contents. ‘Tis wisdom in that bottle for those who can see it'. You don’t need to drink it to take it in. Enjoy, responsibly. Slainte.

Last edit August 13, 2025