“It’s good to have money and the things that money can buy, but it’s good, too, to check up once in a while and make sure that you haven’t lost the things that money can’t buy.” — George Lorimer
George Lorimer’s words strike a powerful chord that connects money and life. In our pursuit of financial success, it’s easy to get caught up in the race for more – more income, more possessions, more status symbols. But as Lorimer reminds us, true wealth extends beyond the material. It encompasses the invaluable, intangible aspects of life that give our existence meaning and joy.
This sentiment is echoed in the findings of financial psychology research. Studies by renowned psychologists like Kahneman and Tversky have shown that once our basic needs are met, additional income doesn’t automatically equate to increased happiness. Instead, our financial well-being is largely determined by our subjective perceptions – how our current situation compares to our past, how we measure up against others, and how well our financial reality aligns with our personal goals and values.
This is where a well-crafted financial plan becomes invaluable. More than just a collection of numbers and projections, a comprehensive financial plan serves as a mirror, reflecting back to us the ways in which our financial behaviours have shaped our current circumstances. It illuminates the path forward, showing us what needs to change if we’re to achieve our goals and live in alignment with our values. It provides a yardstick against which we can measure our progress, not just in terms of rands and cents, but in terms of personal growth and satisfaction.
At WellsFaber, we recognise that true financial well-being is a holistic concept. It’s about using your money in a way that enhances your overall quality of life, not just your bank balance. That’s why we place such emphasis on really getting to know our clients. By understanding what shapes your unique perception of financial well-being, we can help you develop a plan that not only grows your wealth but also feeds your soul and helps you build your wealthspace.
So as you journey through your financial life, take a moment to pause and reflect. Are you chasing after the things that money can buy at the expense of the things it can’t? Are you letting your balance sheet define your self-worth? Or are you using your resources in a way that brings you genuine fulfilment and joy? By keeping Lorimer’s wisdom at the heart of your financial strategy, you can build a life that’s rich in every sense of the word.
Remember, financial well-being isn’t about how much you have. It’s about how well what you have serves you. It’s about crafting a financial life that supports your deepest values and aspirations. And with the right perspective and plan in place, you can experience the profound satisfaction that comes from knowing your money is working in harmony with your life, not against it.
We advise, you thrive.