Barclays Private Clients, the bank’s wealth management arm surveyed 600 affluentials – defined as those earning over Pounds 62,000 a year – and found that stress was the clear factor in these high-flyers wanting to opt out early.
On a scale of 1 to ten, a fifth considered their stress levels to be as high as eight, while the group as a whole said their stress levels were above average.
Other factors contributing to the desire to give it all up including the fact that the careers of affluentials’ careers were spilling ‘out of the work place’ while over half said work adversely affected their home life.
As a consequence most of the affluent were aiming at a more realistic retirement age of 51.
And in a further blow to the image of the money driven yuppie, the survey found two-thirds would stick their noses up at the prospect of bigger salaries in return for more time off. Asked to put a value on an hour of time off, the average amount came to Pounds 100, more than 24 times the minimum wage.
John Church, managing director of Barclays Private Clients said the research showed more stress was leading to high flyers prioritising free time over money.
On the other hand the Pounds 92,000 salary the group earned allowed to bury the doom and gloom in a ‘great’ lifestyle with Pounds 1,700 spend on clothes, Pounds 5,7000 spend on holidays and Pounds 1,500 used for dining out.
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