When does Wealth become a Financial Burden

One common adage states: “Money doesn’t create happiness, but takes the sting out of being poor.” There are other colloquialisms that mean much the same thing. Most people would not turn away a windfall of cash. We all need money and to reiterate another phrase: “Money makes the world go around.” Many people dream of wealth but where can wealth become a burden?

Money gets in the way when we choose our partners and more and more people marry with prenuptial agreements in force. Many people are frightened if they marry and their partner leaves, they take with them half their fortune as well. The very word alimony makes many shiver. Wealth might ultimately affect the decisions we make when choosing a partner. A more suitable person may be passed over because he or she hasn’t comparable wealth. These dilemmas are not just confined to those with great wealth but also those with moderate wealth.

At some time in our lives we need to make a Will. This is another time when wealth may be a burden as we decide who of our children get what. Life is simpler if we have a sole child, but if we have two or more children things can be become more complicated, especially if one child is estranged. Does one leave the estranged child out of the will? These are troublesome matters for those who do have wealth to live behind in the event of death.

Probably one of the more classic examples of wealth being a burden is when someone who isn’t used to having a lot of money finds themselves with a fortune. It depends on personality and type, but many people in this situation, find it hard to cope with wealth. Lottery winners are a great example. Many people are used to living within a set budget and when a windfall comes along it throws all their best laid plans out of the window. Some people cannot cope with the responsibility of more than enough cash for their daily needs.

Sometimes, we hear in the press that a lottery winner has squandered all his money and is in debt just a few years after the initial win. Lotteries aside, some people who are wealthy feel guilty about having so much wealth in a world where there are so many without basic needs. It must be a burden not to be comfortable with the wealth one has amassed in a lifetime.