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We tend to overestimate what we can accomplish in the short-term and underestimate what we can accomplish in the long-term. The frustration that results is one big reason why so many New Year’s resolutions die before Spring.
But if you use these key strategies that are supported by deeply-held values – and science! – you’ll set better goals, achieve them, and feel better about yourself while doing so.
It's common for people who are retiring to set their retirement date in either the springtime or the early summer. If you happen to be one of those lucky folks who are going to retire next year, then "Congratulations!"
But before you start planning your retirement party, make sure you do these four things if you're retiring next year.
Are you feeling the crunch?
With the holidays in full swing, the stress from all that planning, shopping, entertaining, and travelling might be starting to mount. And in between wrapping presents and baking cookies, you still have work to do, your kids still need help with school, and your heart still needs that 30-minute morning run.
Here are four tips to help you turn down the stress so that you can get more Return on Life from your holidays.
Do your Christmas gifts spark joy? The answer is usually “YES!” on Christmas morning or at a holiday party when we unwrap our presents and watch others enjoy their gifts as well. But once the New Year rolls around many of those gifts are fighting for closet space with holiday decorations and all the stuff we keep meaning to donate. And one thing that definitely doesn't "spark joy" is household clutter.
While the shine tends to wear off presents much faster than we expect, many researchers have concluded that spending money on experiences rather than stuff can create more meaningful and lasting happiness. This holiday season, consider putting money towards one of these gifts to create memories that will boost the Return on Life for years to come.
Creating a bucket list can be a great way to visualize your long-term money goals and -- more importantly -- start checking them off. But as the science linking giving to happiness grows stronger, many people have started creating charitable bucket lists that can help improve their Return on Life for themselves, their communities, and people in need.
Here are three ideas for filling your own giving bucket that could connect your money to your life in more meaningful ways.
A hammock on the beach. Your favorite chair in the living room. Waking up when you feel like it. A blank calendar. Doing what you want when you want. Doing nothing if that’s how you feel that day.
After a lifetime of working 40 hours per week, this scenario sure sounds appealing to many soon-to-be retirees. But the surprising reality is that a life of unstructured leisure can create stress, strain spousal relationships, and lead to feelings of uselessness and depression.
When today’s successful retirees stop working, they learn the “ART” of retirement. It’s about Activity, Relationships, and Time. They experiment. They try new things. They make new connections. And eventually, they create a new daily routine focused on the people and passions that make their lives fulfilling.
Planning Financially For Retirement Can Help Make Aging More Comfortable
Yes, there are some good things that often come with being old such as increased happiness, less stress, better marriages and deeper friendships. You don’t always hear these things however since people tend to focus on the negatives of aging.
How old is “old?” Is 60 the new 40? 80 the new 60? I think this question is relative to how someone feels and perceives themselves. Still, I am old enough to know from personal experience that the body begins to slow down and fall apart as we age. I also know from working with clients that aging can be expensive. One of the biggest threats to your retirement nest egg, besides the possibility of outliving it, is the high cost of care for increasing health needs. Here are 5 things that actually get better with age:
Married couples don’t always plot retirement on the same timeline. According to a recent study by Fidelity, 43% of couples disagree about what age they plan on retiring. For other folks, circumstances like an unexpected job loss or health issue push spouses onto separate retirement schedules. This also commonly occurs when there is an age difference between spouses.
When one spouse retires and the other keeps working, it's important that the couple understands the effects on their finances, their schedules, and their long-term goals. Here are three important conversations that couples should have about syncing two retirements to a shared Life-Centered financial plan.
One of the major perks of retirement is that you're free to devote as much time as you want to your interests and hobbies. On the other-hand, one of the challenges is that not everything you've enjoyed doing in your free time while working will be good for you full-time in retirement. Too much of the same thing might get boring. For example, too much time alone on the couch could be bad for your health. Daily golf tee times or lunches might get expensive, and seeing all that remaining blank space on your weekly calendar might feel overwhelming.
It's important to have some structure in retirement. Having many hobbies and activities can help with keeping things exciting, while getting you moving and providing opportunities to connect with lots of other people. If you're not sure where to start, here are six suggestions that could improve your Return on Life.
It's back-to-school season, which means it might be a good idea for parents to think about something their kids won't be learning in the classroom this year: how to manage money.
While there has been a growing movement in some states to include financial literacy as a high school graduation requirement, most kids head into adulthood without a good understanding of money and don’t have the knowledge to create good financial habits. Finance is often a taboo topic for many parents. They may not want their kids to worry about money or get a distorted view of the family's wealth. Sometimes parents don’t have very good money management skills themselves.
Our advice: start small. Here are three easy ways that parents can teach children the value of a dollar and start them on a path towards a greater Return on Life.
