Feeling Wealthy: Is it all about the number in your bank account?

Have you ever met someone who seems to have everything, yet constantly worries about money? It turns out, true financial security is about more than just the size of your bank account. In the latest episode of The Brainy Business podcast, I sat down with Anthony Damtsis , Deputy Head of Behavioural Finance at TD Wealth , to uncover the surprising psychology behind feeling wealthy.

Here's a sneak peek of what we discussed:

• Wealth Confidence: Forget the stereotype of needing millions in the bank. True wealth confidence is how you FEEL about your finances, not just the numbers on a page. This episode explores the 3 factors that truly impact this feeling: security, social comparison, and the purpose you derive from your money.
• The $3.5 Million Paradox: Believe it or not, research shows that people in this wealth range can actually have LOWER wealth confidence! Why? Social comparison. As your circle gets wealthier, your definition of "wealthy" changes too. The key takeaway? True wealth is about more than keeping score with the Joneses.
• The Power of Giving Back: Did you know that philanthropy can actually make you feel WEALTHIER? Helping others provides a sense of purpose and community, boosting your overall financial well-being. Remember, wealth is about how you use your resources, not just how much you accumulate.
• The Magic of Words: The way we talk about finances matters! Anthony shares how even small tweaks in your language can make a big difference in how clients receive and act on your advice. For example, using "holistic" might resonate differently than "comprehensive." Fascinating, right?

Ready to unlock true wealth confidence?

Listen to the full episode now and discover how to shift your mindset and achieve financial well-being that goes beyond the numbers. It's time to redefine what wealth means to YOU!

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