Can money really buy you happiness in South Africa?

The old question, “Can money buy you happiness?” He has constant arguments and finds Linda Sherlock, head of administration: Wealth Advisory at PPS, thinking about the concept of happiness.

I discovered the title of the book Happiness – I unravel the mysteries of psychological wealth, by Ed Diener, editor of Perspectives on Psychological Science.

It lists five factors that contribute to happiness, namely: social relationships, social adaptation, positive thinking patterns, and money. The performance of financial services and especially of the economic market was interesting to see that money (or wealth) is associated with happiness, but decreases with less spending, according to Diener.

Those first few coins lift a person out of poverty, contributing more to a person’s happiness than a billionaire earns the next million. In fact, money can be a poison to happiness.

While study participants were asked if money was more important than love, those who answered “yes” were less likely to be happy and seemed to have no intention of finding happiness no matter how much money they made.

Money management, especially in the economic sector, is changing. According to McKinsey, consultants or asset managers will need a set of different skills tailored to the needs of clients over the next decade.

Advisers will gradually reduce their role as investment managers and become integrated health/wealth management consultants who advise clients on investment, banking, health care, protection, tax, estate, and financial well-being in need.

Does this mean, then, that the role of the treasurer in the transition to a pleasure-seeking career? In PPS, I believe they already are. When you meet an economic manager, your conversation should outline the features of:

Relationships

There are many questions one can ask about a relationship. Here are just a few examples: Do you have a spouse or partner, and if you are married, is it property or not?

Are you divorced and paying or receiving maintenance money? Do you have children or even grandchildren? Will you pay tuition fees? Where will they study/learn? What about other relationships you can have, as business partners? Do you have any existing buy and sell agreements?

Practice

How well are you prepared for the events of big-ticket events that are possible and will happen? Have you thought about the risks of your lifestyle, business plans, investment or economic collapse?

Also, do you think you are prepared in the event of mental health, physical injury, or serious illness? The big questions you have to ask yourself are am I ready for the immeasurable risk and am I able to leave a legacy for my loved ones.

Society and culture

South Africa’s “Happiness Index” according to the World Happiness Report was 4.81 last year. Scales range from 0 (unhappy) to 10 (happy). While this is low, we also need to consider the impact of the epidemic on our minds.

However, according to research, political anxiety is the main concern of wealthy people in South Africa and this filters out conversations, ideas and actions on whether migration is considered.

Statistics show that for every professional person who comes to South Africa, eight are leaving. Where are you in this game? Are you thinking of leaving or staying? Also, if you plan to travel have you considered all aspects of green grass on the other side? What do you need to consider specifically?

Are you involved in any charity work that you donate to and donate your time?

Or, do you have a complete idea of what it means to move to another country and to keep your assets in South Africa or to pursue a full-time move abroad? And, if you live, what is your horizon and what will change your mind?

Thinking styles

According to Socrates,

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