Retirement
Can money buy you happiness?
New research from the Financial Planning Association suggests there is a link between Australians’ happiness and their finances.
Can money buy you happiness?
New research from the Financial Planning Association suggests there is a link between Australians’ happiness and their finances.
A national survey of Australians’ attitudes to money and lifestyle found that 23 per cent of the country’s citizens believe they’re living their ideal life, with close to a quarter (24 per cent) of these people actively seeking financial advice.
Of those who don’t feel they’re living their ideal life, only 9 per cent were seeking advice, which Dante De Gori, chief executive of the Financial Planning Association, said demonstrates that those in control of their finances tend to be happier with their life.
“The research reveals a powerful data link between our nation’s happiness, and financial planning,” he said.
The research also found that while 53 per cent of Generation X and 44 per cent of Generation Y found it difficult to plan their finances, Baby Boomers were far more capable, with only 25 per cent saying they found such planning difficult.
Additionally, 80 per cent of working-age Australians reported their finances were a source of stress, with most of these people being members of Generations X and Y.
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