There are many reasons why inheritors of significant wealth may find themselves feeling lonely, even those who have frequent interactions with a large network of individuals. Loneliness is subjective and not easily measured, and the size of a person’s social network is not a predictor of loneliness.
Loneliness can manifest in various forms, but all run the risk of becoming chronic and pervasive if not addressed.
Emotional: Loneliness of this sort is described as a feeling of being emotionally disconnected from others, despite being surrounded by people. It is a sense of lacking meaningful connection, feeling misunderstood, or being perceived as different from others.
Social: With social isolation, inheritors may have limited time because of the responsibilities of managing wealth to engage in activities that promote social connections. They may also find it challenging to relate to others because of a lack of shared experiences, particularly if those experiences were shaped by financial constraints or different socioeconomic backgrounds.
Existential: This type of loneliness goes much deeper and arises from feeling disconnected from life’s meaning, purpose, or a sense of belonging to a larger community. It is a profound feeling of being adrift.
Thankfully, there are opportunities for inheritors to find a sense of community, either through connection with peers with shared experiences and similar circumstances or through philanthropic and social impact initiatives. The latter may be particularly important in helping the inheritor form social connections not only with other individuals who share their subjective experiences, but by fostering a more diverse set of connections with individuals of varying backgrounds who share their values and interests in a particular social cause. This can help them overcome a sense of perceived difference their wealth creates, helping to remove a barrier in forming genuine connections.
Here are just a few avenues through which inheritors can find connection with others:
- Online Forums & Communities: These can range from specialized websites and portals (many are membership based) to social-media groups. Platforms like Facebook and Reddit have groups and communities focused on inheritance, wealth management, and related topics. When exploring, it is important to consider things like privacy, security, and the reputation of the platform or organization hosting the community. But these platforms can provide inheritors with access to support networks and opportunities for personal growth.
- Philanthropic & Social Impact Initiatives: Platforms dedicated to philanthropy and social impact initiatives offer a way for the inheritor to connect with other like-minded individuals. Choose from any number of organizations ranging from social investing to simply connecting with a social cause or non-profit that speaks to your passions, faith, or humanism.
- Wealth Coaching Services: Some inheritors may find it helpful to work with a wealth coach who can help them feel empowered about their wealth and provide a roadmap for charting how wealth can be an opportunity for connecting with the world around them. Coaching is not behavioral therapy or counseling but can provide inheritors with a safe space to talk about their wealth and define personal goals aimed at increasing connectedness.
At The Wealth Conservancy, we understand the challenges of inherited wealth and offer ways in which to engage with us to help you navigate the complexities of wealth and empower you to make informed decisions that enhance your financial independence and personal fulfillment. Contact us to learn more, or visit our coaching program website at WayIntoWealth.com. We recently posted a blog post specific to wealth and wellbeing that may be of interest.
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