Written for EO by Frank Fantozzi, president and founder of Planned Financial Services, with offices in Brecksville and Beachwood, Ohio.
Many wealthy people are in the best financial shape of their life. Buoyed by the second longest bull market in history, the lowest debt ratio on their balance sheets and growing compensation, why then do so many of these individuals feel the pressure to keep going?
One reason may be that despite reaching the so-called 1 percent, most wealthy individuals came from more humble, middle-class beginnings. They achieved their financial success through hard work and long hours. Because of this, many do not yet feel secure enough to believe that what they’ve built will sustain them. If they felt more confident, they might step off the proverbial treadmill to pursue personal passions.