Wealthy individuals fear they lack financial rigour
WEALTHY people are more likely to have misgivings over their lack of financial self-discipline, despite having more spare cash, a survey from Barclays Wealth reveals today.
One third of wealthy individuals wish they had more self-control over their financial behaviour, it said.
Almost half (45 per cent) of people worth over £10m expressed a desire for greater self-discipline, the report said.
“Many people will be surprised to see that wealthy individuals want greater financial discipline,” commented Greg Davies, head of behavioural finance at Barclays Wealth.
“However you have to remember that with increased wealth comes an increased complexity of investment decisions.”
Younger people are far more likely to be discontent with their financial self-control, the report also found.