Self-control is an important characteristic to develop that can help us in all aspects of our lives from biting our tongue, to passing on the sweet treat, to accomplishing our New Year’s resolutions, to avoiding alarming financial market news alerts. But it isn’t easy! In fact, it can be downright painful, especially when trying to control some urge.
The brain may be filled with gray matter, but it hates gray areas. And there are few other places we find gray areas (uncertainty) than in the economies and markets of the world. One word of caution: our innate desire for certainty leaves us prone to fall for the illusion of certainty. Market and economic forecasts often provide an illusion of certainty.
Start the year off right by getting started on these five top financial goals.
This blog will give a wrap-up of financial goals over the year and prompt the reader to look back on how they did on their goals and reflect for the upcoming year.
Tis the season when financial institutions provide their forecasts for the coming year. Several firms have already published their forecast. RBC and several other firms believe the S&P 500 will make new records in 2024. Whereas Wells Fargo and others have differing opinions. Wells Fargo’s forecast for 2024 said, “It’s really hard to get excited?” So, who is right? And should you even listen to the forecasts?
This blog explains how Social Security benefits are taxed and provides some tips on how to potentially reduce your tax liability.
This article will be about the unique considerations and tactics that military families should keep in mind when approaching retirement planning.
When markets and headlines become concerning, as they do just about every few months, remaining calm can be difficult – but is essential to making wise financial decisions. While we cannot control what happens in the world, the good news is that we can control the level of calm in our lives. Finding your calm is largely a function of what you choose to focus on.
Tis the season of gratitude. Thanksgiving is perhaps one of the most under-appreciated holidays, but most needed. Studies have shown that gratitude promotes many positive benefits – increased and lasting happiness being one of them. Happiness is a desirable state of being shared by all people – irrespective of culture, background, or religion. Unfortunately, the pursuit of happiness is often focused on circumstantial happiness rather than enduring happiness.
It is human nature to focus more on the present than the future, which is in line with our basic instinct of survival. We focus on the present because that is where “life happens” and we experience feelings such as pleasure, pain, anxiety, and peace. Every day we face cost-benefit tradeoffs that not only impact our lives today, but potentially for years to come. Because of our nature, we often select those things that bring immediate gratification while delaying its cost into the future.