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As individuals, our relationship with money is complex. When we don’t have enough, we worry, and when we have an abundance of it, it often becomes a heavy burden of responsibility. Success means different things to different people—some see it in the size of their homes, the vacations they take, the gadgets they own, or even the image they project on social media.
In the UK, we often project our opinions and judgments onto others, measuring success by our own standards. Unlike in the US, where the pursuit of wealth is less apologetic, we sometimes fail to foster a supportive environment. Could we benefit from celebrating each other’s successes more and supporting one another as we build wealth?
Consider the number of UK companies that have successfully listed in the last ten years. These companies haven’t mirrored the growth seen in the US, highlighting a stark difference in how success and wealth accumulation are perceived and supported.
Why is wealth still such a contentious issue? Why do we struggle to discuss the purpose and values behind our wealth openly?
Understanding the relationship we each have with wealth requires diving into personal experiences, often rooted in our formative years. Wealth’s status as a taboo in the UK however, can create a barrier to this type of conversation taking place, be it in the family home, the office, amongst peers or even sometimes in the therapy room.
For clients dealing with family dynamics or caring for elderly parents, understanding the complexities of wealth is crucial. They recognize the success it brings and the varied perceptions others have of their financial status. In the US, financial therapy combines psychotherapy and financial planning, making conversations about wealth, its impact, and personal experiences a form of counselling centered on the purpose and values surrounding wealth.
At Six Degrees, we aim to enable conversations about the sometimes complicated feelings around money. We believe in celebrating successes and removing the taboo surrounding wealth. We invite you to join this conversation and build connections within the Six Degrees community. Just as we might complain about the weather—too hot or too cold —or debate the best time for a holiday, discussing wealth openly allows us to make informed decisions, reflect, and learn.
Whatever the challenge, whatever the dichotomy, we should talk about it more. Open conversations about money, holidays, relationships, and our feelings about family are essential. These discussions help us ensure that our purpose is clear and shared with the world, allowing us to move forward with confidence and understanding.
By embracing a coaching mentality towards wealth and openly discussing its complexities, we can create a more supportive environment where everyone can thrive. Let’s ensure our purpose is visible and foster a world where open dialogue about wealth and success becomes the norm.
Join us at Six Degrees in making these conversations a part of our everyday lives. Together, we can redefine success and build a community where wealth is understood, respected, and celebrated.
This insight is for information purposes and does not constitute financial advice, which should be based on your individual circumstances. The value of investments may go down as well as up and you may get back less than you invest. Past performance is not a reliable indicator of future performance. The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief depends on individual circumstances. Please note that the Financial Conduct Authority (FCA) does not regulate some aspects of cash flow, estate or tax planning or trust advice.
