People happiest with their lot in life are most likely to have a financial plan, according to the FPA Live the Dream report. The national research of working-age Australians also includes insights into the regrets, dreams, and attitudes to matters of money and life across generations, genders and geographies.
Almost one in four Australians (23%) surveyed believe they are living the dream. These enviably content people who dream big and are prepared to act of their plans are nearly three times more likely to seek the advice of a financial planner (24%) than those who describe themselves as not yet living the dream (9%).
Not everyone is content, however. The research also shows 80 per cent of working-age Australians are stressed about money and finances, with 1 in 4 indicating acute stress levels. Gen X and Gen Y are the most stressed about money and finance, and are the generation most likely to struggle with planning. Half of Gen Y (53%) finds planning their life hard. Two in five Gen X Australians feel the same way (44%), while Baby Boomers are the most likely to find planning easy to do (25%).