POLITICS is ranked as the most difficult subject to discuss with friends, family and colleagues according to a global survey conducted by de Vere Group.

Forty-eight per cent of participants voted for politics in the survey conducted by one of the world’s largest independent financial advisory and fintech organisations.

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Politics beat personal finance, which scored 34% of the votes, as well as sex and relationships (9%), religion (5%) and health issues (4%).

The study included 750 plus clients from the UK, Europe, North America, Asia, Africa, Latin America and Australasia.

Last year’s survey revealed that money was the most difficult topic (56% of votes).

This year’s findings were interesting as 2020 has been a year of immense political polarisation around the world.

Governments’ handling of the pandemic and events such as the US presidential election, tensions in southern Asia and in the Gulf, among other factors, have made things seem more divisive and partisan than ever.

Researchers said the subject of money needs to be de-stigmatised, as wealth provides people and their loved ones with incredibly positive, life-enhancing opportunities, and if it is seen as unseemly to discuss, there’s more chance that financial goals will go unrealised.

Another area of personal finance which has traditionally been regarded as ‘awkward’ to talk about, is wills and estate planning.

But the study found that this mindset shifted in 2020 for two key reasons.

First is the Covid-19 pandemic. Owing to the alarming number of deaths and infection rates, people’s mindsets have changed.

Secondly was the great transfer of wealth. Tens of trillions of dollars of assets are to be passed down from the baby boomers – the wealthiest generation ever – to their children and other heirs over the next few years.

The study concluded that money is a critical part of people’s lives, as it gives freedom, security and opportunity.

It appears that 2020 has taught people to become more comfortable discussing it.

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