Good personal relationships, financial security and a sense of life purpose make up the three pillars of the golden triangle of happiness, according to a study by Deakin University.
When you combine all three elements, regardless of your age, income or health status you can achieve a strong sense of happiness and wellbeing.
With this in mind, move your focus from income and instead focus on financial security and financial control.
The study found those who rated themselves at least an eight out of ten in control of finances had higher levels of happiness than those with a rating of less than 7.
There are many ways you can gain clarity around your financial situation and having a solid plan is just the beginning. Being in control of your finances is made easier with a solid financial plan.
A solid financial plan protects you and your family now and in the future, with contingencies built-in for situations outside your control such as illness or death.
Elements of a solid financial plan include:
Having the right superannuation plan in place is essential for your retirement. A Paradise Financial Group superannuation specialist can help you formulate a plan for your superannuation. Everyone’s situation is different and getting the right advice for your individual situation will ensure a happy, healthy and plentiful retirement.
When things ‘happen’, having the correct insurance cover can help you deal with the financial ramifications so you can deal with the emotional side.
Dealing with the loss of a loved one is hard. Even harder with the added stress and pressure of how you are going to pay the mortgage. Having adequate life insurance cover can ease this financial pressure for your family.
If you were unable to work for a month, a year or longer, income protection can continue to pay you for a period of time until you are able to resume work.
Total and Permanent Disability Insurance (TPD)
If you suffer a total and permanent disability, TPD insurance can help with a sum lump payment.
A serious illness, such as cancer, can make continuing to work and cover living costs very difficult. A trauma insurance policy will pay you a lump sum for specified trauma events allowing you to focus on getting well.
A Paradise Financial Group insurance specialist can assess your individual situation and make recommendations for the best insurance policies to protect your financial future.
Having control over your financial situation will not only contribute to higher levels of happiness it just makes good financial sense.