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Wealth is More Than Valuable Possessions & Money
by Filip Telibasa, CFP®, Benzina Wealth
Wealth… what a beautiful word, don’t you agree? It rolls off the tongue and gives us a sense of satisfaction as it’s heavily associated with happiness (think, Scrooge McDuck taking a swim amongst his gold coins). For many of us, wealth is the target of our being, at least in a financial sense. Oxford defines wealth as “an abundance of valuable possessions or money.” Although I agree this is a good, straight forward definition - I ask you not to take it at face value and look within yourself for the true, deeper meaning.
Most people like nice things - a beautiful home on the water with a private dock, luxury vehicles, well engineered watches, high quality diamonds, custom tailored clothing - the list goes on. Do these items directly represent wealth? On the surface, potentially - though, maybe not if we dig a bit deeper. Why do we want these things? Is it for societal status or is it because we value the way they make us feel? I believe the latter and here is why.
Money… Can Buy Happiness?
by Keith Spencer, CFP®, Spencer Financial Planning, LLC
We've all heard the age-old adage that money can't buy happiness. And overall, we would probably all agree with the intent behind the saying, that we should not be consumed with the never-ending quest to acquire more money. That buying more or better possessions will not satisfy us the way that relationships, connection, personal growth, etc., can.
But I think we can also all agree that we might be just a smidgen happier if we had more money, am I right or am I right?
You may have heard the joke that money can't buy happiness, but it can buy me a boat. I hear that. But in all seriousness, what is the correlation between happiness and money? Are they totally separate things, are they intrinsically related, or is the correlation maybe somewhere in between?
Well, today's menu features an entree of a few ways that I encourage my clients to pursue happiness with their spending. And for dessert, an interesting study that shows perhaps money can sometimes buy happiness. Yum.
Build Some More Room for Error into Your Finances
by Meg Bartelt, CFP®, Flow Financial Planning, LLC
How are you feeling? After the chaos of the last few weeks and months in the markets, the economy, and national politics? After the last couple difficult years in the tech employment scene?
When things are going well in your life and career and the markets and the economy, you probably don’t think much about having “room for error” in your finances. Error, what error?!
Welp, I’m guessing so-called Recent Events have made “error” very obvious, and the idea of making room for it might sound pretty good, eh?
Three stories from my life in just the last two weeks have made me think about how valuable “room for error” is. [To give credit where credit is (probably) due, I think I got this specific phrase from the engaging, thought-provoking book The Psychology of Money.]
Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.
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