Wealth management causing stress among Australians

In a recent study by market researchers GfK, fears of not having enough money to live on has topped the charts for most stressful factor in the average Australian's life. 

A total of 1,000 Australians completed the global survey that took place over 22 countries and had over 22,000 total participants from around the world. Those taking part selected from a range of potential stressors, from the threat of crime to one's health and spouse. Worldwide results showed that money, health and a lack of time were a major concerns for nearly every participant, though those in South America were consistently stressed by the threat of crime as well. 

In Australia, 35 per cent of all participants selected wealth management and a potential lack of funds for daily life as a major worry, with self-imposed pressure and not getting enough sleep coming a close second and third. Those over 40 were particularly affected by the amount of money they had to live on, whereas those 15 to 39 years old were most worried by the amount of pressure put on themselves.

Doom and gloom?

However, it is not all stress and worry. The threat of crime did not appear in our top five for any group of people, nor did the threat of outside attack. Worrying about your children or your parents did not seem to be a major stressor for many people at any age range. Only 13 per cent of Australians over 60 worried about pressure they put on themselves, compared to 35 per cent of Argentineans in the same age bracket. 

These types of study highlight how important it is to have a firm grasp on your finances, whether personal or business. If you're feeling stressed about your money, contact Wilson Porter for professional advice in matters of wealth management, business development or tax services.