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These are the factors from which wealth arises

Sep 02, 2017 Letters

Dear Editor,
I read the insightful, instructive piece about wealth creation and money matters in general. I rather liked the observation that “wealth comes from wisdom, understanding and knowledge”. To this I would add “and a good reason to sleep soundly at nights”.
Along the same lines, I would suggest that having what I term ‘survivor money’ comes from a deep-seated need to feel safe financially. When I arrived in London for the first time in the mid-1950s, an employer told me that I should bear in mind that, as a secretary, I could rely on a ‘safe’ job, because of the scarcity of skilled typists at the time, but if there was ever widespread unemployment, I would be the first to go, since employers would have to consider native Brits first. That made an impression on me, and from then on, I saved part of my wages every week. The money built up, and I felt reasonably safe.
As I matured, this practice became an instinctive habit. To hark back to my being shown the door in my mid-50s and in my last job, colleagues were stunned when I calmly walked away, without a tantrum.
When I mentioned that “anyone could do it”, I was surprised when a Brit colleague said that she could not, because she had TWO mortgages to pay. I gathered that, with her recent promotion, she has bought a bigger house, before selling the one in which she then owned and lived. In other words, a deliberate gamble. My colleagues were not to know that my savings account of a ‘handsome’ 5 figure sum kept the bank manager happy. Be wise and knowledgeable – and enjoy your nightly sleep.
Geralda Dennison

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