Vern Gowdie – Gowdie Family Wealth (Australia) –
Employment plays a big part in mental wellbeing.
Studies show a great deal of self-worth is tied up in our employment.
At social gatherings, you’ll invariably be asked: ‘What do you do?’
Replies like ‘brain surgeon’, ‘lawyer’, ‘investment banker’, ‘teacher, ‘marketing’ and ‘journalist’ elicit certain responses and mental pigeonholing.
A reply of ‘unemployed’ usually comes with embarrassment and a negative stigma.
We want confident, well-balanced, successful individuals in our family. It’s good for their self-esteem, which, in turn, adds to the positive dynamics within the family…hopefully minimising the ‘cancerous’ risks of jealousy and lack of trust.
People who are happy and self-assured tend not to be envious.
Successful generational wealth is about putting the odds in your favour. Some will say, ‘You’re lucky that it worked for you,’ but, in reality, luck had very little to do with it.
There’s an awful lot of thinking, planning and communicating that goes into getting that lucky.
The reason you cannot rest on your laurels
The following excerpt is from an article by Michael Lewitt. It was published in The Credit Strategist on 1 January, 2017 (emphasis is mine):
‘The main reason Americans are losing jobs is not foreign competition or currency manipulation; it is technology that is changing the nature of work and eliminating many traditional American jobs. Jobs policy needs to focus on educating workers for the new jobs market and making America a better environment for businesses through lower taxes and less regulation, not by imposing tariffs on foreign goods.’
Not only is technology threatening jobs in the Western and developing worlds, employers are also seeking more flexible employment arrangements.