The Challenges of Money & Wealth
“It is wrong to assume that men of immense wealth are always happy.” – John D. Rockefeller
Many families and individuals do not feel comfortable talking about their financial statues and the emotional challenges they may face. More so, many successful people suffer a double stigma since money or success is supposed to make them ‘free’ of difficulties! As one of Dr. Lami’s clients once said:
“Growing up in a wealthy family, we were taught not to talk about money and society expects us not to have problems or challenges because we have money. This is so untrue. We have the same emotions and feelings like everyone else. We get hurt, we grief, and we have our own relationship issues. However, it is more difficult to admit to ourselves that we have difficulties because of all the money we have. But people, regardless of how much they have, share the same desires and have the same personal and emotional challenges, and it has nothing to do with one’s wealth.”
Money, fame or success, therefore, are not the answer to all of our life’s experiences, since it cannot replace our innate desire for love, appreciation, acceptance and growth.
There is no shortage of people who can advise on investments or ways to save money. However, as the needs of successful individuals have become more complex, they (and their advisors) have started to take a “therapeutic” approach to wealth management. They have recognized the importance of not only getting sound financial advice, but also having a professional on hand to help them navigate the challenges of relationships, planning, managing or giving.
In the face of our fast-changing world, understanding our relationship with money, success or achievements, and how it affects our happiness and well-being, is key in maintaining our emotional overall well-being. In my work with clients, covering the non-financial complexities surrounding money and wealth, it has become apparent that successful and intelligent people – who have almost everything money can buy – will experience unfulfilling personal relationships, challenges with their partner or children, or feeling anxious, stressed, ’emptiness’ or ‘inner dissatisfaction’, but are not able to explain why. The answer is simple. Unknown to them, their relationships with money, wealth, fame or success, are skewed.
Helping individuals and families promote healthy dialogues and discussions, find solutions to challenges associated with money and wealth, understanding the emotional side of succession planning and the meaning of wealth, preparing the next generation, finding purpose, marriage challenges, raising sensible and balanced kids or learning to manage family office and trust’s communication or management issues – is at the core of what we do.