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{"id":1271,"date":"2022-06-29T08:43:17","date_gmt":"2022-06-29T08:43:17","guid":{"rendered":"https:\/\/horvats.com.au\/backoffice\/?p=1271"},"modified":"2022-06-29T08:43:18","modified_gmt":"2022-06-29T08:43:18","slug":"can-money-buy-you-happiness-and-if-so-how-much-is-it","status":"publish","type":"post","link":"https:\/\/pma-prod.horvats.com.au\/can-money-buy-you-happiness-and-if-so-how-much-is-it\/","title":{"rendered":"Can money buy you happiness, and if so how much is it?"},"content":{"rendered":"\n<p>At some point in time, we will all eventually turn our mind to the business of retirement planning.<br><br>Some of us, through good fortune or good management, will see this as a pleasant task and will embrace the transition from paid employment and regular working hours to a lifestyle of our choosing.<br><br>We will explore our leisure and activity options and finally have more time to devote to looking after our health and our families. \u00a0For most of us, a \u00a0happy retirement will also include continued and meaningful involvement in community and perhaps charity work (beyond being a charitable fund for our children!).<\/p>\n\n\n\n<p>Health is clearly the most influential aspect of the quality and the duration of our retirement years. \u00a0It would appear that as much as good health is responsible for our happiness, that our happiness is a major contributor to our health. \u00a0The question is can money buy you happiness?<br><br>The simple answer is that in retirement it can buy you both health and happiness. Alternatively, lack of money in retirement is possibly even a greater stress factor than ailing health, \u00a0and is certainly a major contributing factor to stress and poor health.<\/p>\n\n\n\n<p>Financial independence is the ability to manage your money in such a way that you have sufficient funds to live your chosen lifestyle without assistance from others for as long as you live. \u00a0After many years of financial commitments, obligations and responsibilities nothing makes us happier than achieving financial independence and therefore choosing our retirement date and lifestyle.<br><br>Terrific! but how much will I need?<\/p>\n\n\n\n<p>If, once again, we have had a good fortune to even contemplate this question (majority of Australians will rely on age pension as their main means of retirement support and unfortunately neither their timing of their retirement, nor their quality of life will be of their choosing) it is not all that difficult to actually calculate the monetary value of your retirement needs. Put simply, the happiness cost formula is;<br><br>Capital required to provide regular income for life + Capital required to settle all debts + Capital required to \u00a0purchase items on the wish list + Capital you wish to leave to your beneficiaries = Total Capital Required.<\/p>\n\n\n\n<p>Individuals will decide dollar values for each of these provisions and with the assistance of a retirement planning professional should be able to construct a long term strategy which is easy to understand, manage and alter if need be. Most importantly such a strategy should not be reliant on risk or uncertainty of factors beyond our control.<br><br>It is our experience that the most critical element for all financially independent retirees is maintaining a regular and guaranteed income whilst retaining full control of their assets for as long as they live.<\/p>\n\n\n\n<p>Incidentally, the amount of money required to achieve happiness, although subjective, is not infinite and therefore it does not follow that the more you have the happier you will be.<br><br>In summary, the more time that you have allowed yourself to understand and prepare yourself for retirement the more likely it is that you will enjoy the experience.<br><br>Good Luck<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At some point in time, we will all eventually turn our mind to the business of retirement planning.<\/p>\n<p>Some of us, through good fortune or good management, will see this as a pleasant task and will embrace the transition from paid employment and regular working hours to a lifestyle of our choosing.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1271","post","type-post","status-publish","format-standard","hentry","category-uncategorised"],"acf":{"sectionOneData":{"fontSizeTitle":80,"lineHeightTitle":93,"headerClass":"light","background":"","backgroundMobile":""},"sectionTwoData":{"headerClass":"dark","footer":{"title":"","color":"#5F1437","bgColor":"#5F1437","class":"show"}},"sectionThreeData":{"title":"Related Insights","blogs":[1241,1246,1268],"headeClass":"light","footer":{"class":"hide","title":"Insight"}},"sectionEndData":{"text":"The first step to financial independence begins with a talk.","description":"","link":{"title":"Get in touch","url":"https:\/\/horvats.com.au\/backoffice\/contact\/","target":""},"background":390,"backgroundMobile":"","video_url":"","footer":{"class":"hide"},"headerClass":"hide"}},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Can money buy you happiness, and if so how much is it? - Horvat<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pma-prod.horvats.com.au\/can-money-buy-you-happiness-and-if-so-how-much-is-it\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Can money buy you happiness, and if so how much is it? - Horvat\" \/>\n<meta property=\"og:description\" content=\"At some point in time, we will all eventually turn our mind to the business of retirement planning. Some of us, through good fortune or good management, will see this as a pleasant task and will embrace the transition from paid employment and regular working hours to a lifestyle of our choosing.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pma-prod.horvats.com.au\/can-money-buy-you-happiness-and-if-so-how-much-is-it\/\" \/>\n<meta property=\"og:site_name\" content=\"Horvat\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-29T08:43:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-29T08:43:18+00:00\" \/>\n<meta name=\"author\" content=\"superadmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"superadmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/pma-prod.horvats.com.au\/#website\",\"url\":\"https:\/\/pma-prod.horvats.com.au\/\",\"name\":\"Horvat\",\"description\":\"Independent Financial Advisors Melbourne\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/pma-prod.horvats.com.au\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-AU\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/pma-prod.horvats.com.au\/can-money-buy-you-happiness-and-if-so-how-much-is-it\/#webpage\",\"url\":\"https:\/\/pma-prod.horvats.com.au\/can-money-buy-you-happiness-and-if-so-how-much-is-it\/\",\"name\":\"Can money buy you happiness, and if so how much is it? - Horvat\",\"isPartOf\":{\"@id\":\"https:\/\/pma-prod.horvats.com.au\/#website\"},\"datePublished\":\"2022-06-29T08:43:17+00:00\",\"dateModified\":\"2022-06-29T08:43:18+00:00\",\"author\":{\"@id\":\"https:\/\/pma-prod.horvats.com.au\/#\/schema\/person\/6b426f1aa03ffeea30b94e3f593812ed\"},\"breadcrumb\":{\"@id\":\"https:\/\/pma-prod.horvats.com.au\/can-money-buy-you-happiness-and-if-so-how-much-is-it\/#breadcrumb\"},\"inLanguage\":\"en-AU\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/pma-prod.horvats.com.au\/can-money-buy-you-happiness-and-if-so-how-much-is-it\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/pma-prod.horvats.com.au\/can-money-buy-you-happiness-and-if-so-how-much-is-it\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/pma-prod.horvats.com.au\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Can money buy you happiness, and if so how much is it?\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/pma-prod.horvats.com.au\/#\/schema\/person\/6b426f1aa03ffeea30b94e3f593812ed\",\"name\":\"superadmin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-AU\",\"@id\":\"https:\/\/pma-prod.horvats.com.au\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/9df2c4ab281d472c9931fa9d802c0222?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/9df2c4ab281d472c9931fa9d802c0222?s=96&d=mm&r=g\",\"caption\":\"superadmin\"},\"sameAs\":[\"https:\/\/horvats.com.au\/backoffice\"],\"url\":\"https:\/\/pma-prod.horvats.com.au\/author\/superadmin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Can money buy you happiness, and if so how much is it? - Horvat","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pma-prod.horvats.com.au\/can-money-buy-you-happiness-and-if-so-how-much-is-it\/","og_locale":"en_US","og_type":"article","og_title":"Can money buy you happiness, and if so how much is it? - Horvat","og_description":"At some point in time, we will all eventually turn our mind to the business of retirement planning. 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