Leonie was recently interviewed by the Daily Mail in regards to a recent study which was conducted about the ‘magical’ sum which is required to be happy.
According to the study money may not always buy you happiness but if you are earning the optimal amount it might bring you a lot closer to it.
Leonie told the journalist that she and her husband are focused on building a comfortable retirement for themselves and that they very much follow their own advice. Not only are they helping many families, all across Australia, create financial security for themselves, they are also doing it for themselves, taking the required steps and ‘spending’ their money wisely.
The journalist was a little surprised to hear that Leonie isn’t a shopaholic, doesn’t have a wardrobe stuffed with shoes or drive around in a BMW. In fact Leonie told the journalist that she actually drives a Holden because she and Pete are still building their portfolio and she believes in putting her money in to assets that will grow her money, rather than depreciate it.
She did joke however, that she’d prefer to be crying in a BMW than a Holden, and that money most certainly makes a difference to people’s happiness. Does having money make you happy? Leonie said she doesn’t agree with that, saying its part of being happy.
Why Is Having Money Part Of Being Happy?
Leonie explained that to just have money, that doesn’t make you happy. But having money along with great relationships, living life to your values, surrounding yourself with great people, doing the things you love, living a life of wellbeing – these things help with happiness.
The article reveals the figure identified by researchers as the specific amount guaranteed to bring most satisfaction is $159,000 in Australia.
As a wealth and success coach and property investing expert Leonie helps people create wealth for their families by delivering a blueprint to financial success. We provide the ultimate property investment experience as most understand to build true wealth a portfolio of assets must be acquired and Australians feel comfortable with property.
Leonie shared with the journalist that although her focus is on building a comfortable retirement for her family and that while her business does well, she doesn’t lead a lavish lifestyle.
She revealed “we are very conscious with our money and any excess money we have we will invest it in to property and self-development. We prefer to invest than spend as we like to have our money work for us. ”
The US-based research carried out by Purdue University, which used Gallup data taken from more than 1.7 million people in 164 countries, found different income levels for optimal emotional well-being and overall life satisfaction. Read Article.
What Will YOUR Retirement Look Like?
Leonie explained that their happiness isn’t solely from the money. It’s more so that they are able to live their lives with greater choice. “Money reduces the restrictions and allows you to do the things that you want, it gives you more choices in life,” she says.
“If you havn’t set yourself up appropriately for a comfortable retirement then you will live a restricted lifestyle, only being able to enjoy the things which you can afford rather than the things which you would like to do. Your choices will be limited and you will be living a life without freedom.”
According to the study, many Australians are currently living off only half of what they actually need for their emotional well-being. Leonie says “I wouldn’t say I’m happier because of the money but I am able to do more things that I want to do.”
In the 1960s, the average period for receiving a pension was six years, reflecting lower life expectancies. In the future, the average period for claiming a pension is expected to be between 30 and 40 years. This will create an enormous financial pressure on our country’s finances and who knows what the pension will look like then with an increased population.
The ASFA Retirement Standard indicates that you need $60,457 per year in income for a comfortable retirement as a couple, or $44,011 as a single person. We think their definition and our definition of comfort are very different. We find the people that come to us want to enjoy their lifestyle in retirement. Not just survive.
How Do I Do Things Differently?
Often the more money you earn, the more you spend – this is human behaviour. With increased income comes increased life expenses generally. You might have received a pay rise at work or secured yourself a higher paying role and you will all of a sudden buy the more expensive bottle of wine, pay a little extra on gifts or presents for those you care about, dine in fancier restaurants because your budget now allows it. ‘Keeping up’ with a certain lifestyle or metaphorically ‘the Joneses’ is quite a common phenomenon.
It is possible to make your money work better for you by being conscious with your money, deciding what you put your hard earned dollars into (spending it or invest it) and by being strategic with your spending habits.
If You’re Not In The Financial Position You Would Like To Be In
And would like to discuss steps you’re going to need to talk to us. We’d love to help. Call 0423 465 038 or contact Leonie directly on leonie@wealthology.com.au
