MyMoney Online

It’s all about the money… or is it?

At the recent passing of a very wealthy client I spent time reflectingon of what money was all about. He had a very sizeable estate which was left to his two children as he had just lost his wife to a terrible disease shortly before he died. All he had at the end of his life was a lot of money.

He hadn’t found the time or real reasons to enjoy the benefits whilst he was alive.

Money is a means to and end

Money on its own is just money. So if you focus on money all your life all you will have at the end of your life is just money. Money should translate in to an objective to be meaningful, otherwise, “What’s the point?”

Understandably, money is needed to maintain our lifestyles but as you move through your life cycle is your money providing enjoyable outcomes along the way?

Peace of mind is the ultimate

When you really think about it we all just want peace of mind at the end of the day. We take comfort in the knowledge that we have enough provisions to maintain our lifestyles no matter what happens along the way. It doesn’t mean that we have to provide for an excessive lifestyle either. Contentment can be found in maintaining a very ordinary lifestyle not worrying about your financial future, Still being in a position to take those holidays, send your children to school, buy the car etc.. all without worrying about how you are going to pay for it.

Aim for something realistic

So, it becomes more important to clearly define what your lifestyle objectives are and then start to save towards them. It takes a hard and realistic conversation with yourself to discover what you really want

and then why you want them. The higher you aim the more you will have to provide for over time. So, the answers will be found in compromising on the size of the house and car eventhe type of school for the kids. Things you can comfortablyafford within your means which lead to enjoying yourself and sleeping well at night.

Enough versus Excess

Catering for a moderate lifestyle is more realistic and easier to cope with as it is probably far less stressful and demanding than providing for than an elevated one. It boils down to providing ENOUGH to enjoy your life along the way rather than giving up so much more to enjoy EXCESS somewhere in the future.

Read more from Paul Roelofse at www.investforlife.co.za


This article first appeared on 702 : It’s all about the money… or is it?


Recommended

by NEWSROOM AI
Read More
Why women must be far more careful with their money than men

Why women must be far more careful with their money than men

Ray White talks to personal finance guru Warren Ingram, who reckons women should take financial planning more seriously than men.

Where to best save and invest so your children can one day go to university

Where to best save and invest so your children can one day go to university

#FeesMustFall, but don’t hold your breath. Take matters into your own hands to ensure a tertiary education, says Warren Ingram.

How to get a tax refund from Sars

How to get a tax refund from Sars

The Money Show’s Bruce Whitfield interviews Daniel Baines, author of “How to get a SARS Refund”.

13 tips for saving hundreds (nay, thousands!) of rands each month

13 tips for saving hundreds (nay, thousands!) of rands each month

The economy is toast. Personal finance expert Warren Ingram shares 13 highly effective tips for making ends meet.

Update your Personal Balance Sheet for 2015…

Update your Personal Balance Sheet for 2015…

Financial Fitness coach Paul Roelofse says the beginning of a new year is a great time to update your personal balance sheet...

The 3 most pressing (financial) questions asked in 2014

The 3 most pressing (financial) questions asked in 2014

Financial Fitness Coach Paul Roelofse gives sound advice on how to optimise your savings - or just to make ends meet in 2015.

Popular articles
Nhlanhla Nene asks trade unions for ideas on how to fund wage increase demands

Nhlanhla Nene asks trade unions for ideas on how to fund wage increase demands

Nene asked unions representing Eskom workers to provide ideas to fund wage increases after negotiations with Eskom deadlocked.

[WATCH] Man finds it hard to open his Zam-Buk & pleads for an easier opening tin

[WATCH] Man finds it hard to open his Zam-Buk & pleads for an easier opening tin

Tourists wake up at the crack of dawn to bag the best sunbed and one man even suffers a broken toe in the melee.

How Steinhoff shares doubled in just five days

How Steinhoff shares doubled in just five days

Founder of Herenya Capital Advisors, Petri Redelinghuys, explains how the embattled Steinhoff managed to double its share price in 5 days

Parents no longer have to travel with children's birth certificates

Parents no longer have to travel with children's birth certificates

The new Home Affairs upgrades to the system include printing parents details at the back of the child's passport.

Woolworths explains reasons for rice mix recall

Woolworths explains reasons for rice mix recall

The retailer announced it is recalling its rice mix product for fear of contamination with the Listeria bacteria.

Home Affairs set to undergo an upgrade in move to paperless system

Home Affairs set to undergo an upgrade in move to paperless system

A new live capture system will cover birth, marriage and death registrations.

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.