Daily Archives: June 22, 2023

Transferring wealth, your way

Posted on June 22 2023 by wpManager

With the coming years set to see record flows of assets pass down the generations, the thorny issue of wealth transfer has inevitably become an increasingly important financial topic. Seeking professional advice is a crucial step that can help ease … Continue reading →

Are you a wealth accumulator?

Having your finances in order brings
tremendous peace of mind. Financial wellbeing varies from person to person but fundamentally encompasses having
security around money, now and in the future, plus knowing what makes us happy,
and having money goals in place to achieve this happiness2

The combination of money and mindset
is crucial, findings show that even if an individual feels confident about
their money ‘building blocks’ (income, long-term savings, safety net, debt awareness, assets), they won’t achieve optimal levels of financial wellbeing without a well considered and focused
mindset too; think ‘happiness, future self, written plans, long term perspective’.

Engage your mind

Aegon’s Wellbeing Index also shows that being a high earner doesn’t necessarily equate to being a long-term saver. If a saver has a connection to their future self and understands what gives them joy and purpose, they find long-term perspective. Being one of the highest earners doesn’t necessarily mean that they have long-term perspective. ‘The wealth
accumulator’ persona for example has a high level of wealth now and probably in the future, but when it comes to creating a healthy financial mindset, they might not have spent the time thinking, ‘what’s it all for?’ and truly connecting with the mindset element of financial wellbeing.

2. Aegon, 2022