{"id":472,"date":"2018-01-17T14:40:25","date_gmt":"2018-01-17T14:40:25","guid":{"rendered":"https:\/\/arkenstonewealth.co.uk\/?p=472"},"modified":"2018-01-17T14:40:25","modified_gmt":"2018-01-17T14:40:25","slug":"financial-security-key-living-good-life","status":"publish","type":"post","link":"https:\/\/www.arkenstonewealth.co.uk\/blog\/financial-security-key-living-good-life\/","title":{"rendered":"Financial security could be the key to living \u2018the good life\u2019"},"content":{"rendered":"

\"financial<\/p>\n

For Tom and Barbara Good, \u2018The Good Life\u2019 meant ditching the corporate world and working towards a self-sufficient lifestyle.\u00a0 Over 40 years after the sitcom originally aired, people across the globe are still searching for a better way of living. However, the definition has shifted toward personal fulfilment, and away from the dream of leaving the office behind.<\/p>\n

Everybody has a different image of their ideal life, so there is no set definition or vision for it. However, a study<\/a> has asked people which factors were important in \u2018the life they would like to have\u2019 and financial security ranked second among both UK and worldwide respondents.<\/p>\n

The top 10 factors in the UK<\/strong><\/p>\n

The research, which looks at the priorities of adults worldwide, shows that, for people living in the UK, the top 10 factors are:<\/p>\n

    \n
  1. Being in good health (82%)<\/li>\n
  2. Financial security (75%)<\/li>\n
  3. Spare time (68%)<\/li>\n
  4. Owning your own home (62%)<\/li>\n
  5. Being happily married (61%)<\/li>\n
  6. Travelling and holidays (59%)<\/li>\n
  7. Freedom and control over life decisions (55%)<\/li>\n
  8. An interesting job (50%)<\/li>\n
  9. Having children (49%)<\/li>\n
  10. A nice garden, lawn or yard (38%)<\/li>\n<\/ol>\n

    Second only to personal wellness, financial stability is more important to UK adults than travel, free time and even the ability to control one\u2019s own decisions.<\/p>\n

    Top 10 factors worldwide<\/strong><\/p>\n

    The research included studies of a further 16 countries, with financial stability ranking second to health universally.<\/p>\n

    Worldwide, the primary factors for quality of life are similar to those in the UK, apart from home ownership ranking lower than a happy marriage and the opportunity for travel. Which confirms the UK\u2019s obsession with owning property.<\/p>\n

    Why is financial stability so important?<\/strong><\/p>\n

    Financial stability is the knowledge that your income and capital are sufficient to: cover your essential costs, work toward your financial goals and live comfortably. Of course, financial stability will look different to each person and your definition will be personal to you.<\/p>\n

    Financial stability has an impact on most areas of life. A lack of it can harm your mental wellbeing through stress and may even lead to ill health if you cannot afford the necessary products, food or medication.<\/p>\n

    This gives you the financial freedom to deal with unexpected costs or emergencies, without having to worry about whether you can afford to pay your bills or buy food, for example.<\/p>\n

    Achieving financial stability<\/strong><\/p>\n

    Financial planning is the key to achieving financial stability (whatever that means to you) and the quality of life you desire.<\/p>\n

    Everyone has a different definition of what a \u2018good life\u2019 means to them. Which is why financial planners work on a one-to-one basis, following a process which first aims to discover and understand your goals, aspirations and objectives, then:<\/p>\n