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

Read More
Where to invest money you intend to leave to your kids

Where to invest money you intend to leave to your kids

The Money Show’s Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram.

How to survive retrenchment

How to survive retrenchment

Your rights (and their responsibilities) upon retrenchment. Bruce Whitfield interviews Personal Financial Advisor Warren Ingram.

3 shares that'll bring home the bacon

3 shares that'll bring home the bacon

The Money Show’s Bruce Whitfield interviews Overberg Asset Management analyst Kirk Swart.

The best investment on the JSE right now and one from abroad (by Anchor Capital)

The best investment on the JSE right now and one from abroad (by Anchor Capital)

Bruce Whitfield interviews Anchor Capital Aggressive Long Short Fund Portfolio Manager Liam Hechter for his “stock picks” feature.

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
Opinion:  Bishop Lekganyane is right

Opinion: Bishop Lekganyane is right

Stephen Grootes weighs in on comments made by the Zion Christian Church Bishop at the weekend.

So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

It's not the end of the road... Top tips to improve your matric

It's not the end of the road... Top tips to improve your matric

"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.

How to make your first million

How to make your first million

Warren Ingram discusses his new book in which he shares practical ways for ordinary people to achieve financial freedom.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?