Abstract
The purpose of the investment is to improve the current level of life satisfaction by achieving investment goals. Investors tend to attain high levels of life satisfaction when their investment goals are achieved and lower levels of life satisfaction when goals are far from achievement. The idiosyncratic characteristics of an individual may often hamper the achievement of investment goals and ultimately influence the level of life satisfaction. These characteristics can either contribute towards low life satisfaction or high life satisfaction. Income and the subjective financial well-being play a determining role in whether an investor has a positive or negative life satisfaction. Hence, the aim of this study was to determine whether income and subjective financial well-being have an influence on the life satisfaction of investors. The results of this study reveal that a strong relationship exists between income, financial well-being, and life satisfaction. Investors who perceived themselves, to have high financial well-being were more likely to have high life satisfaction. On the contrary, investors with low perceived financial well-being were more likely to have low life satisfaction. Similar results were observed for income and life satisfaction since a positive relationship was also found.
Highlights
A good life arguably appears to be something most individuals in the world strive to achieve
There are other life domains and demographic factors that influence satisfaction with life of investor; they do not form a pivotal part of this study
The primary objective of the study was to analyse the relationship between income, satisfaction with life and financial well-being in the context of South African investors
Summary
A good life arguably appears to be something most individuals in the world strive to achieve. The ultimate goals sought out by human beings are happiness. What constitutes a good quality of life, satisfaction with life as well as financial well-being remains to be variant in a wide range of research studies. According to Boyce, Brown, and Moore (2010) happiness and money are understood to be interrelated, ultimate happiness should be derived from higher income. The study by Ericson and Vinson (2012) indicated that the high correlation between income and life satisfaction exist. Cohn, Fredrickson, Brown, Mikels, and Conway (2009) stated that findings have disputed the life satisfaction and positive emotions relation, implying that individuals become happy because they have acquired living resources, rather than feeling better The study by Ericson and Vinson (2012) indicated that the high correlation between income and life satisfaction exist. Cohn, Fredrickson, Brown, Mikels, and Conway (2009) stated that findings have disputed the life satisfaction and positive emotions relation, implying that individuals become happy because they have acquired living resources, rather than feeling better
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