Money, Happiness, and ControlSubmitted by LWM | Linden Wealth Management LLC on February 20th, 2019
The Relationship Between Wealth and Well-Being
Does money make you happier? Yes, but not always for the reasons you might think.
BlackRock conducts an annual survey called "Investor Pulse." Each year it explores a different theme. This past year focused on whether money makes you happier.
It turns out that when a person takes steps to invest, they create a greater sense of well-being today and they're more optimistic about their financial future. A feeling shared regardless of affluence, age, gender or stage in life.
Unfortunately, too many individuals aren't investing. They find the process too complicated or they're simply worried about meeting today's needs.
"I'm afraid of losing it all." "Investing is just for experts." "I'm more interested in achieving short-term goals."
But, investing and a greater sense of well-being are attainable.
Small steps toward investing can help you feel good now and in better control of the future.
30% who aren't investing want a way to try out investing with a low money commitment. Micro-investing or dollar cost averaging can lead to greater return than just letting money sit in a savings account.
76% of investors that use a financial advisor report having a positive sense of well-being. Start a relationship with a financial advisor, preferably a fiduciary, who will work with you and for you. If you feel you don't have all the answers, advisors know how to educate.
41% of non-investors say the would feel better about their finances if they could better balance the needs of today with the needs of the future.
69% recognize that their future outlook would be better if they started investing now.
So, can money really make you happier? Not exactly. But being confident, in control and invested helps. Go ahead, take action and get started.
To see the survey: https://www.blackrock.com/corporate/insights/investor-pulse#intro
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