Why Rich People Still Worry About Money?

Why do so many people still feel stressed about money even when they have plenty of it?
Wealth comes with responsibility. Decades of hard work, saving and accumulating creates habits and mindsets that do not just switch off at retirement.

And retirement is a confronting shift. You stop accumulating and have to turn the tap on and actually spend. For a lot of people that brings real guilt.

I see it all the time. Some of the most relaxed people I meet are on the full age pension with very little else. Meanwhile people with significant wealth carry it as a burden.

My job is to work through that. Because ultimately what is money for? In my view it is there to add to your life, build memories and reduce the regrets you might have when you are too old to do anything about it.

General Advice Only. Robert Goudie is an Authorised Representative (No. 235974) of Consortium Private Wealth Pty (AFS Licence 495401).