Why Wealthy People Struggle to Spend Their Money

For high net worth clients transitioning out of a business, the shift from accumulation to spending is one of the hardest adjustments there is. These are people who have spent decades with their finger on the pulse, making decisions, building wealth. Suddenly the game changes and they have to learn to spend what they built. My job is to make sure they understand exactly what we are doing and why. The structure, where the money is invested and what the cash flows look like. When someone has a $5 to $10 million asset base, I can show them they can live well, take the family on great trips, be generous and still potentially grow their wealth by investing in quality businesses listed on global stock exchanges. Once people see that clearly, the permission to spend follows naturally. They have earned the right to enjoy it. General Advice Only. Robert Goudie is an Authorised Representative (No. 235974) of Consortium Private Wealth Pty (AFS Licence 495401).

Disclaimer || The information provided in this post is general in nature only and does not constitute personal financial advice. Robert Goudie is an Authorised Representative (No. 235974) of AFSL 495401.