Author: Michelle Griffiths – Partner, Investment Advisory and Wealth
From winning a game show or the lotto, receiving an inheritance to finding and flipping a valuable antique. SBS’s Insight recently aired an episode (18 Feb 2020) talking to various people who had received windfalls – from inheritance, lottery game show wins and the like.
What we learned from this episode was how the psychology of money works differently for different people. Some felt like they had earned the money, felt very engaged with what they were going to do with it, and it provided them happiness in their life. However, others felt like it was a curse.
In our experience, when advising clients about their money matters, we recognise the importance of understanding people’s attitudes, personal experiences and mindset around money and investing, making sure that we work with them to do what will be good for them both financially but also in their life.
The psychology of money is something that always plays a significant role in our discussions. Understanding what wealth/money means to you and what you want to achieve is our most important element in helping you reach your goals.
Click here to watch the episode
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Disclaimer: The information contained is general in nature. Professional advice should be sought before acting on any aspect on this page. Financial planning services provided by TAG Financial Advisors Pty Ltd (ABN 77 154 205 017 AFSL 415632), a wholly owned subsidiary of TAG Financial Services Pty Ltd (ABN 67 075 374 686).