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Johannesburg - Money is the most uncomfortable topic of conversation for six out of ten high-net-worth individuals, according to a new international poll.
In the global survey, conducted by the international financial advisory organisation deVere Group, 61% of those polled ranked personal finance as the most difficult subject to discuss with family, friends and colleagues.
It came ahead of politics (14%), sex (11%), religion (8%) and health issues (6%).
The respondents came from South Africa, the United Arab Emirates, the UK, the US and Hong Kong.
“This poll underscores that personal finance – which can include income, debt, tax, savings and expenses – is almost universally regarded as the worst topic of conversation," said deVere Group founder and CEO Nigel Green.
“For many, wealth comes with plenty of intense emotions, so perhaps it’s little wonder that even the ‘better-off’ prefer to discuss almost anything else - including those famous dinner party taboos of politics and religion."
The survey’s findings suggest that there is perhaps some degree of misplaced guilt or embarrassment surrounding money by those who have accumulated it, said Green.
"This is despite the fact that high-net-worth individuals are typically likely to be society’s primary wealth and job creators and major tax contributors.”
The survey indicates how there remains a "bury your head in the sand" attitude to finances as people simply don’t want to talk about money even to their nearest and dearest.
In the global survey, conducted by the international financial advisory organisation deVere Group, 61% of those polled ranked personal finance as the most difficult subject to discuss with family, friends and colleagues.
It came ahead of politics (14%), sex (11%), religion (8%) and health issues (6%).
The respondents came from South Africa, the United Arab Emirates, the UK, the US and Hong Kong.
“This poll underscores that personal finance – which can include income, debt, tax, savings and expenses – is almost universally regarded as the worst topic of conversation," said deVere Group founder and CEO Nigel Green.
“For many, wealth comes with plenty of intense emotions, so perhaps it’s little wonder that even the ‘better-off’ prefer to discuss almost anything else - including those famous dinner party taboos of politics and religion."
The survey’s findings suggest that there is perhaps some degree of misplaced guilt or embarrassment surrounding money by those who have accumulated it, said Green.
"This is despite the fact that high-net-worth individuals are typically likely to be society’s primary wealth and job creators and major tax contributors.”
The survey indicates how there remains a "bury your head in the sand" attitude to finances as people simply don’t want to talk about money even to their nearest and dearest.
- Fin24
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