Let's start by understanding wellness vs wellbeing. “Wellness” focuses on good physical health, like exercise and nutrition. In contrast, “wellbeing” takes a more holistic view, considering all aspects of a person’s life—physical, emotional, social, and financial. Financial wellbeing is about creating stability and peace of mind in your financial life, ensuring that your resources align with your values, needs, and long-term goals. What Is Financial Wellbeing? Financial wellbeing is the confidence and ability to manage your money in a way that supports your life, both now and in the future. It’s not just about having a high income or significant savings—it’s about being in control of your finances, prepared for unexpected events, and confident that you’re on track for a secure future. Key components include: Earning : Having a reliable income that supports your lifestyle. Saving and Investing : Setting money aside for emergencies and future goals while allowing it to grow through smart investments. Spending Responsibly : Making thoughtful decisions about where your money goes, avoiding unnecessary debt, and ensuring spending aligns with your goals. Protecting : Safeguarding your financial resources with insurance and having a safety net for emergencies. Why Financial Wellbeing Matters Financial wellbeing affects every area of your life. When your finances are under control, you feel more secure and less stressed, which contributes to better health, stronger relationships, and greater productivity. When your finances are out of control, you don't feel good. In fact, you probably feel terrible. This means your mental health is sub-optimal. Most people that feel stressed tend to also make decisions that hurt their physical health as well. Think about when you're pressed for a work deadline or feel 'timepoor' - that's not usually when you are consistently following your workout regimen. Thus, your physical health starts to wane. This often leads to more isolating behaviours and spending less time with people you want to spend time with. This means relationships are the next car off the rank to suffer. These are all related, so as your financial wellbeing starts to slip, so do other areas for most people's lives. This reiterates why having financial wellbeing is important, beyond the dollars and cents. Strategies to Improve Financial Wellbeing So what can you do to improve your financial wellbeing? Well, here are a few things you can start with: Learn Financial Basics : Start by educating yourself about key financial concepts, like budgeting, investing, managing debt, and understanding taxes. Knowledge is the foundation of good financial decision-making. Create a Budget : A budget helps you track your income and expenses, prioritize needs over wants, and plan for future goals. Regularly revisiting your budget ensures you stay on track as your circumstances change. Build an Emergency Fund : Save three to six months’ worth of living expenses to prepare for unexpected events, like medical bills or job loss. This safety net can prevent you from falling into debt. Set Long-Term Goals : Whether it’s buying a home, retiring comfortably, or funding a child’s education, having clear goals helps you stay motivated and focused on your financial journey. Seek Professional Advice : Financial advisors can provide tailored guidance based on your unique situation, helping you avoid pitfalls and create a solid financial plan. Common Misconceptions About Financial Wellbeing 'Financial wellbeing' gets thrown around a lot these days. Unfortunately, that brings about some wrong ideas that we not well communicated. Below are some misconceptions about financial wellbeing that are worth understanding: It’s Not Just About Wealth : You don’t need to be wealthy to be financially well. Even with a modest income, good financial habits—like budgeting, saving, and avoiding unnecessary debt—can lead to financial wellbeing. It’s Not Only About Saving : While saving is crucial, financial wellbeing also includes earning a stable income, spending wisely, and protecting yourself with insurance and an emergency fund. It’s Not Achieved Overnight : Financial wellbeing is a journey. It takes time, discipline, and ongoing learning to build a secure financial foundation and maintain it over the long term. Wrapping This All Up Financial wellbeing isn’t just about numbers in a bank account—it’s about achieving balance, security, and peace of mind in your financial life. Start by educating yourself, creating a budget, saving for emergencies, and setting meaningful goals. While the journey takes effort, the rewards—reduced stress, improved health, and greater confidence—are well worth it. With the right strategies and mindset, financial wellbeing is within reach. It’s not about being rich; it’s about living a balanced, fulfilled, and secure life, free from financial stress.

Welcome to the latest in our series on the reasons why people should consider paying for professional financial advice. In Maslow’s hierarchy of human needs, the top of the pyramid encompasses elements such as a sense of accomplishment and reaching one’s full potential. But if your needs at the base of the pyramid aren’t met, you can forget about those at the top. Just above the very basic necessities of food, water, clothing and shelter rests a building block of human sanity. This is a feeling of security, a sense that everything will be OK. For many of us, it is the single biggest reason for seeking out financial advice. The Value of Feeling Secure From Financial Advice A Sense Of Security Is there any Value of Feeling Secure From Financial Advice? It's a fair question, but before we answer that, let's look back to when we were in the middle of a global pandemic, having an attentive, understanding GP is a godsend. As well as filling your usual prescriptions, a good doctor can provide a framework to help keep you and your family safe. There is standard information on mask-wearing, vaccinations and how to build up your immune system. But there is also a recognition of you as an individual, your own sensitivities, existing ailments, anxieties and family circumstances. What a good GP gives you is a sense of security amid unresolvable uncertainty. Of course, she has all the technical qualifications. But what really makes her an effective doctor is her ability to get to the emotion behind the physical complaint. The feeling behind the issue An effective financial adviser works the same way. You go along with what you think is a simple practical financial issue to resolve — a tax notice, a debt overhang, an inheritance, a looming retirement, a family split. But often behind each of those superficial issues is a tight knot of insecurity and trepidation. Each question you want to ask often masks a bigger underlying question that will not go away: “Am I going to be OK?” This idea of a strong emotional connection to money issues should not be dismissed as mere pop psychology. On the contrary, there is a growing body of serious evidence that a sense of security is the cornerstone of “financial wellness”. In the US, the Consumer Financial Protection Bureau , after interviewing thousands of people, came up with a definition of financial well-being as a sense of having control over one’s finances, the capacity to absorb a financial shock, a sense of being on track to meet one’s financial goals and the freedom to make choices. “The specific individual goals and vision of a satisfying life differed greatly among respondents, yet there were two common themes that arose consistently — security and freedom of choice, in the present and in the future,” the bureau says. It stands then that a key benefit of seeking out a financial adviser is to have someone on hand who can ask probing questions to better understand what you care most about, what keeps you up at night and how you would like to live your life. The Value of Feeling Secure From Financial Advice Listening before talking A good financial adviser, like your trusted GP, will listen more than they talk. They will not jump in with a prescription prematurely, but attempt to understand the emotional issue that underpins the material one. Only once they have sought to understand your hopes and anxieties can they proceed to deal with the practical problems. And that involves providing you with some controllable actions amid the flux and uncertainty of life. Dimensional Fund Advisors, a global asset manager, last year showcased how advisers it works with were finding that during the pandemic the most important service they were providing was a safe place for clients to express their worst fears. “Right now, applying expertise in human behaviour is more important than discussing numbers and statistics,” one adviser said. “Clients want to know that I understand and feel their fear and concerns. I don’t try to reason with them. I focus on calming them.” In other words, you need your concerns acknowledged as real before the adviser can deal with the financial issue that you are seeking to resolve. Money and emotional security are inseparable, never more so than at a time like this. To be sure, financial advisers are not psychologists. But they can help you separate out the practical financial issues and deal with them more readily by first acknowledging the uncertainty you are feeling. With the right financial plan — one that takes account of uncertain outcomes and focuses on controllable factors — you can feel more resilient, more rested and more ready to address the other issues in your life. That’s a very valuable service. Written by TEBI This article dovetails nicely with another article that we have, that discusses some other benefits of financial advice.

2024 is now in the rear view mirror. Attached is a review of what took place in markets, however more importantly a collection of materials we have written that our clients have found valuable. Happy New Year, Matt & Cam

Matt Wenborn - Dec 2024 Many times, individual financial goals morph into joint financial goals. Examples can include, travel, the reallocation of time together, gifting, philanthropy or leisure activities. Sometimes, those joint financial goals and objectives through the loss of a loved one become individual again. What’s more, sometimes when we lose a loved one, those once joint financial goals do not materialize at all due to the grief of losing the one person you wanted to achieve these with. The goals that were once joint, just don’t feel the same anymore. There is no one set way to grieve, nor a set time frame, however there are evidence-based action steps that you can take to help assist navigating the process. My hope, that even through the loss of a loved one, you can still achieve financial milestones and individual fulfilment. Below is a quick snapshot of the Five Ways to Well-being via the Mental Health Foundation of New Zealand. For more information about the Five Ways to Well-being and the New Economics Foundations report, click this link: Five Ways to Well-being | Mental Health Foundation. Give. Your time. Your words. Your presence. Giving goes beyond simply sharing physical items with others. It involves nurturing a generous mindset and encouraging active engagement in community and social activities. Participating in volunteer work and community service is closely associated with positive emotions and overall well-being. When individuals help others, share their skills, and engage in actions that foster teamwork, they often experience an increase in self-esteem and a boost in their emotional health. The act of giving holds significance for people of all ages. For children, it aids in building strong social understanding, while for adults, it fosters a sense of purpose and enhances self-worth. This is especially true for older adults who may have retired and now have the opportunity to contribute their time and talents to others. Engaging in acts of kindness and generosity not only benefits those receiving help but also enriches the giver's life. It creates a cycle of positivity that strengthens community bonds and promotes a sense of belonging. Ultimately, giving is a vital part of a fulfilling life, encouraging connections and shared experiences among individuals. Be Active. Do what you can. Enjoy what you do. Move your mood. Studies indicate a strong link between engaging in physical activity and improved overall well-being, along with reduced levels of depression and anxiety. It is now recognized as vital for individuals of all ages and has been proven to help slow down cognitive decline associated with aging. Evidence points to the fact that being physically active can boost self-confidence, enhance coping skills in tough situations, and foster a sense of achievement. Additionally, it can promote social connections among individuals, which is another important aspect of mental health. It's important to note that physical activity doesn't have to be intense to be effective. Participating in moderate exercise three to five times a week can greatly lessen symptoms of depression, and even short sessions of less than 10 minutes can lead to noticeable improvements in mood and mental health. Keep Learning. Embrace new experiences. See opportunities. Surprise yourself. Staying curious and setting goals is essential for people of all ages. For kids, this curiosity fosters healthy cognitive and social growth. For adults, it can boost self-esteem, enhance social connections, and encourage a more engaged lifestyle. Additionally, continuous learning has been linked to reducing the risk of depression in later life. In particular, adult learning emphasizes the importance of setting goals, which is closely tied to improved well-being. When individuals create their own goals that are positive and resonate with their personal values, they tend to experience greater satisfaction and fulfilment in life. This process of goal-setting can significantly impact their overall happiness. Learning goes beyond traditional education: it encompasses various ways to nurture curiosity and a desire to explore. Engaging in different activities that stimulate the mind can help maintain an inquisitive attitude, making life more enriching and enjoyable. Embracing this broader view of learning can lead to lifelong benefits for everyone. Take Notice. Appreciate the little things. Savour the moment. Developing skills that allow us to pay attention to our surroundings and our inner thoughts and feelings, both physically and mentally, can really enhance our overall well-being. Even short workshops that cover fundamental techniques can provide benefits that last for years to come. There's been a ton of research on mindfulness, and it shows some pretty great outcomes, like improved self-awareness. This research suggests that being receptive to our experiences can really help us make choices that resonate with our personal needs, values, and interests. When our actions are in sync with what we truly value, it becomes much easier to create lasting changes in how we behave. Some effective strategies that can enhance our well-being include practicing gratitude, embracing forgiveness, engaging in self-reflection, and seeking meaning in our lives. These practices can play a significant role in boosting our overall sense of well-being and happiness. Connect. Appreciate the little things. Savor the moment. Feeling connected to others and being appreciated by them is a basic human necessity. No matter the age, having relationships and engaging in social activities play a vital role in maintaining mental health and serve as a strong defence against mental health issues. When we have solid social ties, they provide us with support, motivation, and a sense of purpose, while a broader social circle enhances our feelings of belonging and self-esteem. The main takeaway from the idea of connection is that dedicating time and effort to both deepen and expand our social networks is crucial for our overall well-being. It’s not just about having a few close friends: it’s about creating a rich tapestry of relationships that can uplift us and help us navigate life’s challenges. Moreover, individual well-being is closely linked to the health of the communities we belong to. Focusing solely on personal gains can be less effective than prioritizing the cultivation of relationships with others. By nurturing our connections, we not only enhance our own lives but also contribute to the well-being of those around us. Matt Wenborn

Matt Wenborn - Dec 2024 In 1969, Doctor Elisabeth Kubler-Ross a Swiss-American psychiatrist established a theory that defines emotional stages that people go through after losing a loved one. According to her findings, everybody who has suffered a loss must go through all the stages of sorrow. How does this apply to your finances? Well, money is essentially a means to an end – its’ a tool. It’s what we ultimately do with that money that helps to satisfy our financial goals, ambitions, and objectives. Too often I see individuals that have suffered a devastating loss in which they never emotionally recover from. By not emotionally recovering from this loss, many of those financial dreams become unfulfilled when many times, monetarily speaking they can be comfortably achieved. Everyone's grief experience is different and, while Doctor Ross’s theory recognizes ‘grief phases’, it is crucial to emphasize that they are not rigid: the stages might overlap or, you may revert to earlier phases. 6 Stages of Grief Below is an adaptation of Dr Ross’s 1969 report in which I have categorized into six grief phases. My hope is that this will help individuals recognize the feelings that they may encounter and how in the abnormal situation of loss, the feelings they are experiencing is actually quite normal. By recognizing and then overcoming these phases, it is my expectation that individuals will be in a better emotional position to achieve their financial dreams. Shock ‘Sad things happen. They do. But we don’t need to live sad forever’. Mattie Stepanek The shock phase begins as soon as one learns of the loss. You have a concept of what happened, but you aren't aware of its full ramifications. Even if we believe we have had enough time to prepare for the loss of a loved one, shock is unavoidable in almost every circumstance. We know it will happen, but not right away, not that day. Typical types of thoughts that you may encounter at this phase can make you feel alone, vulnerable, and insecure. This period is typically characterised by a torrent of enquiries. There may be questioning of yourself or others, seeking immediate and definitive answers. Give yourself some time. Over time as the dust begins to settle everything will begin to make sense. There are ways in which to combat or reduce shock. You can attempt meditation or other relaxing interests, or physical activity such as going for walks to distract yourself, however this phase might linger for days, weeks, or even months. Denial ‘Denial ain’t just a river in Egypt’. Unknown Following shock, the second phase is denial. Denial is a normal reaction to overwhelming situations and surroundings. Individuals may refuse to face reality and keep their feelings bottled up. Many people who go through loss believe that if they don't accept the reality, the loss didn't truly happen, allowing for a reconciliation, such as in the case of a divorce. In the case of a break-up, during this period, it is typical to call, follow on social media, or text excessively in order to postpone the process of dealing with grief. People frequently mention a ‘mental fog’ in addition to shock and denial. These symptoms might include forgetfulness, loss of attention, insomnia, lack of motivation, recurrent thinking, and inability to make a choice. Denial sometimes gives individuals the time to gather your strength for something you know you must face soon. It is essential to realize that shutting down or ignoring reality will only leave you stuck during this phase. To move forward, try to accept the present, even if it hurts. Denial can be tricky and scary, but overcoming it can be as simple as surrounding yourself with trustworthy, supportive people and opening up emotionally. Living an honest life and dealing with your emotions head-on is a path to successful, sustained recovery. Confide in a friend or pen your feelings and fears in a journal. This stage leads directly into the “Anger Phase,” which can happen quickly after the denial phase. Anger ‘Anger is an acid that can do more harm to the vessel in which it is stored than to anything on which it is poured’. Mark Twain Your heart shifts from sad to hostile throughout this time. In the event of a break-up, fury aimed at the ex for his or her involvement in the breakup, or maybe at yourself for your role, fuels it. Many people engage in aggressive behaviour at this time, such as deleting old photographs, holding their ex's possessions hostage, slandering their ex, or worse. Anger at oneself can be characterized by a lot of negative self-talk or regretful and furious internal dialogues. All is being done to find something or someone to blame. When someone realizes that denial is no longer an option, they get frustrated, often with individuals close to them. Some people may take their frustrations out on loved ones and other family members. It's common to feel angry after a loss, and many individuals may try to keep this stage of sorrow buried. This is a difficult stage because you may not be ready to let go of your hopes and future plans for this relationship, and you want answers to comprehend what occurred. In the case of a break-up, in many instances there is a perception that the ex has all the answers and that they also hold the key to happiness, since one conversation with them may turn things around and stop the misery, restoring things to their previous state. Anger is a tough feeling to cope with, and it is easy for people to dismiss it, therefore it is critical to find someone with whom you can relate to honestly. Try writing your feelings down, practicing relaxation strategies such as listening to music or deep breathing exercises, or engaging in physical activity. Studies have shown this can reduce stress. Also, recognize when it is time and how to get help from a therapist or Psychologist. Bargaining ‘Love knows no bargaining’. Swami Vivekananda The bargaining stage involves making commitments to yourself or a higher entity and begging the universe for a second chance. An individual facing loss may seek rationale where there is none and may feel guilty or to blame for their actions. The bargaining stage of relationship sadness is typically characterised by anxiety and uncertainty. It's also the time when couples may try to reconcile just to split up again a few weeks or months later. In the bargaining stage of grief, people attempt to postpone their sadness by imagining ‘what if’ scenarios. Individuals may also feel a sense of guilt or responsibility, leading them to bargain for ways to prevent more emotional pain or future losses. In the case of a break-up, it's critical to evaluate and consider why the partnership didn't work. This act will assist the mind in adjusting to the new reality rather than easily clinging to false hopes. Staying grounded in reality, understanding that the agony one is feeling will pass, provides place for individual development and stability. If possible, cutting off all contact with the ex is a healthy way so that you can focus your time and energy on emotional rehabilitation. The no contact rule is a most effective strategy to maintain a healthy distance from the ex. Relationship grief's bargaining stage may be both perplexing and distressing. Still, it allows you to reconnect with yourself, and chart a new positive course in life. Depression ‘You will feel better than this, maybe not yet, but you will. You just keep living until you are alive again’. Unknown. The tangle of emotions that frequently accompany the mourning of a loved one or a divorce process can lead to feelings of sorrow, loneliness, worry, and dismay. Sometimes the pain is too great to endure. Someone may ponder the meaning of existence or wish to be reunited with a deceased loved one. Dealing with your emotions and realities might feel all too daunting once you comprehend the enormity of your loss. There may be numerous days of profound unhappiness that mimics moderate depression. It might be difficult to remember life before the relationship during this stage. Getting out of bed or routine day to day tasks can be challenging for many people. During this period, it is critical to surround oneself with optimism. Maintain contact with friends and family and do your best to not retreat from life. Increase your physical activity and confront your worries. Don't avoid the things that are challenging for you, limit your alcohol consumption and try to consume a nutritious diet. Above all, know when it's time to seek professional assistance – you don’t have to face your loss alone. Acceptance and hope ‘We must accept finite disappointment, but never lose infinite hope’. Martin Luther King, Jr Humans, by nature, crave contact, connection, and support, and at some stage in the grieving or loss process individuals will want to engage with friends and family again. Acceptance is about realising you can’t change the circumstances, but that you can gain some control over how you respond. This is also a stage where one may slip backwards and find themselves feeling overwhelmed from all the emotions again. It’s normal to move between any of the stages of grief from hour to hour, or even minute to minute. Acceptance doesn't Ignore the loss. Acceptance means embracing the present (both good and bad) in order to shape the future. It does not mean that we no longer can think about the loved one. Out of sight does not have to mean out of mind. It means that finally one is able to accept the reality of what's happened and begin to look for avenues to move on. It's important that during this stage one accepts how this loss has changed their life and ceases wishing for everything to go back to how it used to be. At first acceptance may simply mean more good days than bad ones. Life continues – never the same, enriched by the lessons one has learnt throughout their journey. This is a huge milestone and accomplishment. This means that now, you choose to no longer waste all your energy on things you can't change and you can begin to look ahead. Are you seeking support? ‘Asking for help is never a sign of weakness. It's one of the bravest things you can do. And it can save your life’. Lily Collins. Conclusion Throughout the phases listed above, each presents a situation where vulnerable people can be taken advantage. In the early stages, such as Shock and Denial, financial decisions can be made with haste and can cause long-term harm, whilst stages such as Bargaining, and Depression lead themselves to being taken advantage of from those who don’t have your best interests at heart. No investment should be implemented without a thorough understanding of your financial goals and objectives, and during this period, your financial goals and objectives are usually clouded and ever changing. As a Certified Financial Planner, I am held to strict fiduciary duties and ethical standards. Client care is at the forefront of my process. If you’re going through a devastating breakup or have lost a loved one through tragic circumstances and your emotions seem to be getting the better of you, don’t hesitate to seek professional help. If you are looking for support, a valuable resource is Find a Clinical Psychologist | NZCCP to help you come to terms with your past, learn strategies to cope with your pain, and move ahead with a positive perspective on life. If you have questions or queries with regards to this article, or if you would like to reach out regarding your financial planning goals and objectives feel free to contact me (below). Matt Wenborn Director – CERTIFIED FINANCIAL PLANNER cm   021 495 190 matt@irvinewenborn.co.nz

Matt Wenborn - Dec 2024 As a Certified Financial Planner, I assist those of all walks of life, with their own unique stories, however fundamentally, all of my clients can fit somewhere on this graph, either they are on track to run out of money, or they will never spend all of it. For those whose situations resembles the green line above, it is an interesting conversation. When I show the green line to my clients, many for the first time can see that they are able to fulfil their financial goals and objectives comfortably. This erodes away a lot of anxiety and answers the question, ‘am I going to be okay’? We even work on the green line, so it more closely resembles the purple line in the graph below. But, why on earth would I want to do that? Essentially my client now has less money at the end of their life than they would have if they haven’t spoken to me at all. And that, is the point. The difference between the green and purple line is my client utilizing their wealth on things that bring happiness to their life. That may be travel, philanthropy and gifting, home renovations or something else entirely. The point being my clients are using their wealth to bring a greater degree of joy and purpose in their lives. Sometimes, I see people with say, a green line type scenario and after running through all the data and offering differing probabilities of favourable and unfavourable market conditions the line still goes up. Even at that point some of my clients are still not willing to spend, and sometimes those individuals continue to lead a very frugal lifestyle. This is a tricky point of contention, and the reason for the article. Many of you may be reading this thinking this must be rare. You might be thinking, ‘If I had the money, I’d be spending it!’ It’s not rare at all. Anecdotally, I see this more often than you may think! A study by Black Rock found that the vast majority of retirees still have at least 80% of their savings after two decades in retirement. A further study from the Employee Benefit Research Institute surveyed average retirees between age 62 and 75 and found that three-quarters of them had seen their assets remain the same or grow in retirement. That means their line is looking like the green line, more so than the purple. To me, that is not a good outcome. I sat down with Rebekha, a clinical psychologist to try and get to the bottom of why this is occurring and what can be done to circumvent this. Here's what we discussed... 1. Changing your mentality (Spender vs. Saver) Rebekha stated this could be due to a multitude of reasons. One reason is that a saving mentality is much different than a spending mentality. Someone may have conditioned their brain to save for 40+ years and that is an extremely difficult mindset to break. To go from accumulating all your life to de-cumulating is a completely opposite skill set, and potentially a scary prospect for some individuals and may bring about a sense of anxiety. One way to circumvent this is look at the numbers and trust the financial projections. By running multiple financial scenarios with differing rates of return (both good and bad) will help overcome the anxiety of running out of money. I mentioned to Rebekha that we do this regularly with our clients however, some clients are still reluctant to spend. Rebekha went on to say, that sometimes it’s as simple as dipping your toe in the water and spending a little bit to get comfortable with it. This may be via a small regular monthly withdrawal, or a small lump sum. Either way, by just trying a little bit, it helps you to slowly become accustomed to changing the save to spend mindset. Rebecka went on to say the same could be said for investing... If you have received a windfall, to make yourself feel more at ease you could slowly drip feed yourself the money to help assist with anxiety. There are multiple stories on scams, so anxiety behind investment is warranted but sometimes doing nothing is just as bad. 2. Changing your spending habits? Have your spending habits or expenses changed over time? This can be often seen in the case of empty-nester's or those who have suffered a relationship loss. An example of this could be... You were spending money frequently on financial dependents, or prior to the loss in relationship, traveling regularly with your partner? Has this changed drastically, and you are now spending far less? Although difficult, try to remember and ask yourself the following questions: 'Are the things I always thought I wanted coming true?' If you enjoy travel, 'Could I travel with friends or family?' If you enjoyed frequently dining out, 'Could you do this with friends or family?' Nothing will ever replace the loss; however, you can still enjoy the things you once did, just in a different way. Do you find yourself wondering, 'what it would be like if…?' Sometimes the anticipation is far more anxious and scary than the action. And sometimes, there may be something getting in the way of actioning a spend. Be honest with yourself and ask yourself what that might be so you can begin to overcome it. 3. Do your homework. Research. Rebekha mentioned that another great way is to look at the evidence and data. Do your own research and due diligence and find out what the data says, rather than someone’s opinion. You don’t need to turn into a financial specialist, however reading an article here or there about spending patterns, rates of return or risks to avoid wouldn’t hurt. The more educated you are on the topic, the more likely this will erode some of the anxiety you may have around spending in retirement. As a financial planner, I can empathize here. Unpredictable factors such as; market performance, life expectancy and health issues make spending your money easier said than done. Some people may be hesitant to tap their savings because they think, “I have X amount of dollars which must last the rest of my life, but I my future is uncertain. So, if I spend too much too soon, I’m putting myself in jeopardy.” Although I run projections for my clients, to help them see if they can afford to spend a little more than they assume, I also tell them, “Now the money is doing the work [so they] don’t have to” and that seems to help people. 4. What else can help me? Fundamentals such as diaphragmatic breathing, diet and activity or exercise can also help calm spending anxiety. Potentially, 1 or 2 sessions with a clinical psychologist can help because talking though your concerns with someone out of your regular support network is often a prudent thing. Sometimes family can be too close. A clinical psychologist can give you support and guide you with things to work on. Ask yourself: 'What is the purpose of the money? To have it? Or to use it as a tool to do what you want and to avoid what you don’t want?' Ask yourself what you want to accomplish and to view savings as the means to an end. In conclusion, as a financial planner it seems (for most people) there’s a little voice in the back of their head telling them, “Sure, it worked out for most people in the past but what if the future is different?" "What if I retire at the worst possible time?” I totally understand this sentiment. It can be a scary proposition to leave the working world behind and be forced to cover the majority of your expenses from your life savings. You have to budget for your basic cost of living, travel, healthcare, inflation, taxes and any unexpected expenses. Plus, there’s the added bonus of having no idea what future returns in the markets will look like. My advice to those with any resemblance of financial anxiety, is to reach out and ask for advice. It always comes back to the same basic question, ‘am I going to be okay, and if not, what do I need to do?' We can give clarity around this and in many instances, give you a small push into better realizing your financial goals and objectives when monetarily these may be achievable, something is just getting in the way. In many instances, we can overcome those hurdles together. If you have questions or queries with regards to this article, or if you would like to reach out regarding your financial planning goals and objectives feel free to contact me. Matt Wenborn Director – Certified Financial Planner cm   021 495 190 matt@irvinewenborn.co.nz

It’s easy to make a million dollars... ... If you are patient. It’s hard to make a million dollars if you’re a human though, because there’s always “a new thing” that makes it really difficult to be, well… patient. There’s always something new that we want or need to buy and we can tell ourselves, “I’ll start saving in the future”… but what about when the future arrives? If a person saves $500 per month and gets a 7.5% return for 40 years, they will end up with a little over $1.5m (it’s $1,511,911 to be precise). That could mean someone saves from the age of 19 – 58 or it could be from age 31 – 70, it really doesn’t matter. The problem is, humans don’t tend to think quite like that because life happens. Let’s like at an example of a typical person, called Bob. Bob wants to save some of his money for the future. It’s not clear what, but he knows that saving is important because his parents always saved and everyone else seems to do it. Bob is 23 years old and makes good enough money that he can save $1,000 per month. After 8 years of investing his savings in an evidence-based portfolio, Bob has just under $131,000. That’s pretty good. Bob is on track, right? Well, it depends on the choices Bob makes in the future, because it’s not over. After 8 years, Bob is 31 years old and thinks “Maybe I want to buy a house…” And you know what? That’s just what Bob does. He buys a property. But in order to have enough deposit, Bob has to withdraw all his investment savings, so he goes back to $0, and then starts over. It doesn’t seem like a big deal, because Bob tells himself that he’s a good saver and and he’ll get pay rises so he can save even more in the future. It won’t be hard to make it up. In other words, Bob is taking an early withdrawal. Maybe that’s all true (maybe it’s not), but let’s see what that 8-year difference makes in Bob’s future. If Bob kept saving all the way until age 65, without ever withdrawing for his deposit, he’d have a tad over $3.5M ( $3,537,347 ). Instead, Bob withdrew at 31 and started over, so he’ll still be ok because he can save and he knows he’ll earn more. Afterall, how much is he missing out on from those 8 years? Maybe a little. Well… maybe a lot more than a little. Bob’s final balance of saving from 31-65 will be $1,872,939, which is $1,664,407 less , compared to saving from age 23-65.   Basically, Bob will have half as much money in retirement for withdrawing his early years of saving. That's how taking early withdrawals hurts your future and this is just one quick example, that shows why it’s important to let your wealth compound, uninterrupted for as long as you possibly can. A little withdrawal can have a big effect. Of course buying a house is a big decision and most people that can, choose to do it at some point, but just be aware that using your savings and wealth for one thing can come at the expense of something else (such as your future, having security or choices, being financially independent sooner, travel, etc). If you’re wondering what a practical solution it, it’s quite simple. Nothing. All you have to do is nothing. Don’t withdraw. Set aside some money and savings that can be used for things through your life, but make sure you keep some buckets of money that are protected and only used for the long-term stuff. If you never touch the long-term buckets of money, then they grow more than you can imagine because the human brain thinks about things in straight lines. We can do the math for 8 + 8 + 8 + 8 + 8. Human brains don’t naturally calculate compounding, so it’s hard to quickly answer what is 8 x 8 x 8 x 8 x 8. Just remember, dollars that are used today for something, are dollars that you can’t use later for anything. In other words: “You get the chicken by hatching the egg, not by smashing it” – Arnold Glasglow

Happiness Equals Reality Minus Expectations. Put another way, this means the lower your expectations, the happier you are. Some people view that as depressing and it’s easy to see why… On the other hand, those that understand this and apply it in their lives, are just plain more likely to be happier people.   While we hope our expectations and reality will match up, they often don't. The difference in someone’s expectations vs. reality can lead to feelings of discontentment and un happiness. Think about it this way, have you ever thought you were going to get something like a big bonus, a gift from someone, or an invitation… and then… didn’t? How’d that feel. This is because of a little chemical in your brain called dopamine. It may not look like much when you see it as a chemical compound, but dopamine gives you feelings of pleasure, satisfaction, and motivation (amongst others). Dopamine signals come from the root of your brain where your spinal cord connects. The brain has approximately 100 billion neurons and well under one-thousandth of one percent (0.00001) produce dopamine, but that small amount has BIG power of you.   If your expectation was to receive something and you do receive it, then there’s no increase your dopamine. Meanwhile, ALL unexpected  gains have a big increase. When a reward comes as a surprise, the dopamine neurons fire longer and stronger than they do in response to a reward that was signaled ahead of time. Think back to any incredible surprise you’ve received. Again, maybe it was a big bonus from work, a lovely meal with someone, or a new friendship. It probably felt great. If a reward is expected but it fails to materialize then dopamine dries right up. This just all points to the same thing as before: having no expectations doesn’t hurt your happiness, but it can definitely increase it when there’s a positive surprise.   Think of it this way. This table shows what’s expected on the top, and what’s received on the left. Starting with when someone receives a gain. If they expect it, it’s not really anything, it’s more neutral, but if they expect nothing. Awesome. On the bottom we have receiving nothing. If we expect to receive and don’t, that’s a bummer, but expecting nothing and receiving nothing is also neutral. So the column on the right of expecting nothing is the only path that doesn’t have downsides, but does have upsides.   What you can do with this information is assess what your expectations are for different areas of life. If you are planning on retirement and think it will be the best thing ever, understand that many retirees struggle to find purpose in life, structure for their day, meaning, friends and family to spend time with, and can end up directionless and bored. If you think you are going to receive a large inheritance, know that often that doesn’t happen whether it’s due to the benefactor spending their wealth, the inheritance diminishing from costs and processing fees, or not having a discussion about when/how much it truly would be. It’s easy to feel like bad things happen to other people that are unlucky, until… Remember that bad luck can strike anyone. You can become one of those ‘other people’. A good financial adviser should be aware of what kinds of things to expect, like how often life-events take place, what affect it could have on a person, and how to best prepare for these things. This is where a financial adviser can be valuable – by using foresight to be a barrier at the top, instead of an ambulance at the bottom of the cliff.   The main Take Aways from this are simple: The less you expect or lower your set your expectations, the better for your happiness. The happier you are, the more likely you are to feel in control of your life.   Our goal at Irvine Wenborn is to help people live better lives by improving their decision-making, and we do that through a financial lens. You can find us at our website, email, or on socials. You can also share this video with anyone you’ve heard that has incredibly high standards, and get their take. If you enjoyed this video, here’s a link to part 2, where we dive into this and how it affects a person’s investments and the choices they make with capital allocation.

For those that don't ever set better investment expectations for themselves, they make investing a whole lot harder. It’s easy to have expectations about money that aren’t perfectly accurate. This happens with inheritances, debts, budgets, how much someone saves, costs for purchases, income, and just about everything else. But having misinformed expectations can have some unexpected affects on your finances.   This is all about how to have better investment expectations and how it can help you invest better. If you haven’t seen part one about expectations vs reality, you can watch it here.   You might be thinking, “Cam, why does this matter and how does it relate to investing, at all? The answer has 3 parts. They are: Investor’s often have expectations that are different from financial professionals This leads to disappointment but also poor investing behaviour, which in turn hurts returns even more Having better expectations allows to make your future more stable, because plans are not made using small chances, but real odds   Point 1: Advisers and individual investors do not have the same expectations. Above is a chart from Visual Capitalist, using data from Natixis that asked 8500 individuals and 2700 finance advisers around their world what they thought share markets would return. Advisers expectations are the orange circles and individual investors are the blue. Two things stick out as sometimes the gaps between advisers and individuals is large, with some individuals thinking they’ll get twice what advisers expect (like the US). The other note is that in no country, do advisers expect to get a higher return than the individuals. This means people that don’t work in finance, often aren’t equipped with good information, so they think things will be better than what’s likely to happen. In Part 1, we showed how this results to disappointment, which leads to the 2nd point. Point 2: Investor behaviour is the biggest factor in what returns a person receives. We’ve talked about this in other videos, including “Chasing Returns” where people seem to often miss the good times and only invest when the party’s over.  This creates a vicious cycle that is very common: An investor – let’s call this person Peter, invests money thinking he will earn 13% each and every year. In reality, Peter’s investment returns 7% per year on average, so what does Peter do after 3 years? He moves his investment to something else that has recently had higher returns, and once he does, the new investment that he switched to starts to experience worse performance. He decides to wait it out for 3 more years, and after another disappointment, moves it again (see image right) . This cycle keeps going, so that the average investor is constantly making decisions that hurt their investment portfolios returns. This is called “The Behaviour Gap”.   Point 3: Have better and more realistic expectations, because if you expect a lower return, you are less likely to disrupt your portfolio. This is good news. It also means that when you are planning for your future, you have a better baseline to build your projections on. If Peter thinks he’ll earn 13% on his $100,000 for the next 25 years, he would end up with $2.12 M, which would be awesome, but if he actually only earns more like 7%, his balance would be only $542,000 after 25 years. That’s a difference of more than $1.5M. It also means that if Peter has plans to have $542,000, then anything above that means he’ll be more than comfortable. But, the opposite is not true. If Peter thinks he’ll have $2.12M and only has $542k, he’ll feel poor and likely have to make some serious life changes to accommodate this.   It’s easy to misinterpret this message and think it’s saying to just be fine settling for something that’s not as good. That’s not the case.  This is not saying, be happy with less money, it’s actually the opposite. Because often times investors all want the ‘best thing’ they aim too high with their expectations, but it’s exactly because they aim too high that they end up often under performing the easier and simpler option. Ironically, over zealous investors can be their own worst enemies, by creating their downfall, instead of their success. So going back to Peter, if he aimed for 13% return per year, he’s more likely to get a 3% return per year, so instead of $2.12M or $542,000 he would probably end up with only $209,000.   One last note – be wary of investments, advisers, & financial offers that offer you unusually high returns. This is how investors often get duped into poor quality investments, and then how do they feel? You guessed it, more  disappointment. If an adviser is giving you advice based on returns that are ‘higher than other options’, then they probably aren’t good adviser. Don’t get sold snake oil, instead buy some good information.   The Take Aways are: Have more reasonable expectations about your investments. Get an expert’s opinion, as in someone that knows what historical data is for different investments. When you have more reasonable expectations, it’s easier to plan your life, which has all kinds of other benefits. Switching your investment portfolio around constantly will do far more damage than leaving it be.     Our goal at Irvine Wenborn is to help people live better lives by improving their decision-making, and we do that through a financial lens. If you want to better understand what kind of returns to expect for a portfolio, there are ways of calculating it rather simply. Reach out and we’d be happy to discuss our views with you, to help make some more informed decisions for yourself. You can find us at our website, email, or on socials. You can also share this video with anyone you’ve heard make a statement about some high returns they expect on their investments, and get their thoughts.

Question : What could be more exciting than talking about a graph? Answer : It doesn’t matter, because we’re talking about a graph either way …specifically, this graph. This article and video are for investors that are excited by the recent S&P 500 US Stock returns over the past few years. Today we’re sharing some thoughts on a graph and how it relates to the S&P 500 as an investment, and learning from history's patterns.   What you see before is a plain graph right? Wrong. This is a fascinating graph, if you look closely. You don’t have to squint, just look for some patterns and concepts. We have here three different indices: the S&P 500 (which is a big chunk of the US share market), The MSCI World Ex USA, which means 22 other developed countries’ share markets, and the MSCI Emerging Markets Index, which is another 21 developing countries (also known as Emerging Markets or “EMs”). The graph shows each index and its trailing 10-year returns, separated by five year intervals. So the first bars on the left show 1984, which means it’s taking the returns of those indices for the previous 10 years, starting from January 1975 through to December 1984. The next bars do the same, it’s just five years later. Now here’s where things get exciting: there are nine periods shown on the graph from 1983 – 2023, but if you look at the S&P 500, which is the dark blue bar, had the highest returns in four of those periods. Four divided by nine is 44% (4/9=.44). That means that less than half the time the S&P outperformed other diversified share markets. So if you were back in the 1980s and deciding which index to invest in, the S&P 500 would not have been the best option, more than it would have. That's not great.   Emerging Markets Many investors don’t like the returns from Emerging Markets have offered, and that’s understandable because for the past 10-15 years, they haven’t been very good. But if you look further back, Emerging Markets were phenomenal during and after the Global Financial Crisis of 2008. Part of the reason for that is because the S&P 500 did so poorly, by comparison.   The S&P 500 (as an investment option) Last time the S&P 500 outperformed these other 2 indices was in the late 1990s and early 2000s, and for those that remember, that’s when the Tech Bubble burst. What came five years later were abysmal returns (because the returns on the graph above show the historical averages with 10-year intervals, not just one-year intervals). What was once a great investment, became a … not so great investment. Cycles Change It’s scary to think that back in 1999 and 2004, the US outperformed other developed and emerging countries’ share markets, by less than what they have done recently.  Let me explain, markets go through cycles, which means there’s up periods when everyone is happy, and after the up periods are down periods, where good returns were a distant memory. In statistics this is called Regression to the Mean. What it means is that things have a tendency to go back and do what the average over time. In other words, history often repeats itself. Imagine you and your friends are flipping coins, you flip a coin 10,000 times. There might be some streaks when you flip heads 10 times in a row, but out of the total 10,000 the odds are that all the coin flips will still come out to something like 50/50, or close to it. This is how markets often behave, and because the S&P has done well more recently (since 2009), it might not do as well in the near future.  Likewise, because other developed and emerging markets haven’t done as well recently, they might be more attractive in the near term. The more unusual a market’s returns are, either up or down, the more likely it is to go swing back the opposite direction, to get back to the average. This is called a correction if markets swing downwards or if it’s big enough, a bear market, when stock markets plummet.   Let's Talk About the S&P 500 (Finally) Basically the S&P 500 looks so good right now because it’s gotten more expensive. The price has gone up so every investor is paying more money to buy the same companies as before. You can measure how expensive a share market is in numerous ways, but some common ratios are Price to Earnings or Price to Book. This image shows that the historical Price to Earnings ratio for the S&P 500 has been about 22, which means that if you buy all the companies in the S&P 500, and nothing else changed, it would take 22 years to get your money back from the investment through each companies annual earnings.  You can see that, more recently, the number is 40x price to earnings. Put another way, if you invest in the S&P 500 right now (as of late 2024), you are roughly paying twice as much as the historical average, which is not a good sign for the future returns.   Since the year 1970 through to year end 2023, several countries have had better performing share markets than the US and S&P 500, including Denmark (13.53% per year), Hong Kong (12.62% per year), Sweden (12.45% per year)) the Netherlands (11.97% per year) and Switzerland (11.05% per year), while the S&P 500 has done 10.95% per year. However, if we look over the last 10 years (when the S&P has gone way up), Hong Kong and Sweden haven’t done so well. Sweden’s trailing 10 year returns are 5.23% per year while Hong Kong's are a miserly 2.03% per year. So if you like the idea of investing in countries with strong share markets like Sweden and Hong Kong, remember that the last 50 years isn't the same as the last 10 where they've had poor performance. That can and does happen in just about every market, so it's not unique to Sweden or Hong Kong.   In fact, some 'authorities' will attribute the S&P 500's performance to “ US Exceptionalism ” ask yourself this question: If the S&P 500 hadn’t performed so well since 2009, would you still want to invest in it? If the answer is yes, then go right ahead. But if the answer is no, and you think it’s stupid to invest in a country that’s had poor performance (such as Hong Kong or Sweden), then you are Chasing Returns , and that’s something we’ve mentioned before (see link above). Short version is, chasing returns is not a good investment strategy.     Let's Wrap This Up While this might sound confusing and leave you wondering, so "what do I do now" – here are some takeaways: Don’t look at which investment markets have done well and put your money into yesterday’s superstars. You’d be better off doing the opposite by picking previous losers. The best strategy is invest in all of them, by picking a global index that tracks all the countries in the world. If you are investing more of your money into the S&P 500, just be aware that there have been numerous occasions when the S&P was in a similar position as today (where it was expensive) and it went on to lose value (sometimes for more than 10 years). Then comes the hardest part of all. Don’t touch it. Let your investments ride. You’ll be tempted to move them every time you look, because the FOMO parts of your brain will ask if you can do better. In theory you could, but in reality, the data are clear that switching investments based on recent performance is a bad idea. This means if you’re committing to an investment strategy, commit to it. Don’t ‘try it out’ for a couple of years and then switch. Continuing to switch investments every so often will hurt your portfolio, leave you with less wealth, less time from researching everything and increase your stress.   Chase your dream, not returns. - Cam Irvine   Our goal, here at Irvine Wenborn is to help people live better lives by providing financial education, insight and perspective. So if you enjoyed this, feel free to reach out or share it with someone that you think would find it interesting or useful. You can find us at our here, socials, YouTube, and 'out there'. Citations and Sources: DFA Returns Web MSCI Inc: https://www.msci.com/our-solutions/indexes/acwi Wikipedia:   https://en.wikipedia.org/wiki/American_exceptionalism   Investopedia: https://www.investopedia.com/terms/s/sp500.asp Visual Capitalist: https://www.visualcapitalist.com/complete-breakdown-of-sp-500-companies/#google_vignette

This article are some of the insights that Chip Conley gleaned, regarding getting older. He's a New York Times best-selling author and upon many years of reflection, he has acquired some wisdom about what people often 'think' it means to get older vs what it has become for him. So here are 5 ways where getting older is also getting better: 1. Feel relief that your body no longer defines you Our obsession with getting older is so focused on the physical, on how it looks, that we don’t prepare for what it feels like to experience midlife. Aging is a privilege, a gift of time. Yet so many of us focus our middle-age conversations on what we have lost: we share “organ recitals” of what body parts no longer work as they used to. Unlike a tree whose age is defined by its internal rings, we age in public, cursed or blessed with our external wrinkles. How we feel about our longevity is on display, not only in our attempts at concealment but in how we embrace or resist our additional years. For me, I felt comfortable in my own skin just as it started to sag. It's such a relief to no longer be defined by your brawn or beauty. As we age, we realize that this rental vehicle we were issued at birth will have its inevitable dings and chipped paint, but what really matters as our body depreciates isn’t what it looks like on the outside but how it feels on the inside. Yes, we need to maintain this vehicle, but it becomes less about short-term vanity and more about long-term maintenance. And that gives us so much more time to invest in the other important playing fields beyond the physical: the emotional, the relational, the mental, the vocational, and the spiritual. 2. Invest in your social well-being It’s revealing that the word “illness” starts with an “i,” while “well-being” starts with “we.” What if we look at our well-being as a shared responsibility, striving for social, not just personal, well-being? In midlife, we’ve often starved ourselves of friendships because we’ve been so busy with the spinning plates of being in the “time sandwich” with a proliferation of professional and personal obligations. Social science research is conclusive that the most common variable for those living happy, healthy lives into their eighties and beyond is how invested they were in social relations in midlife. “The shorter life we have ahead of us, the more we prioritize our relationships in the moment.” Friends aren’t a “nice-to-have.” They’re a “need-to-have.” Our friends, family, and community are our “emotional insurance.” The shorter life we have ahead of us, the more we prioritize our relationships in the moment. This is part of the reason that the U-curve of Happiness research shows that life begins at 50 as we get happier with each decade after bottoming out in our late 40s. As the Velveteen Rabbit suggests, “Generally, by the time you are Real, most of your hair has been loved off.” One of my saving graces of midlife is just how authentic my relationships have become. I no longer show off to others. I show up for others. 3. It's OK to marvel at your wisdom Knowledge is in your smartphone. Wisdom is in your gut. Our painful life lessons are the raw material for our future wisdom. By midlife, we’re experts in the school of life and are “first-class noticers” of our patterns. We’re also more adept at moving from the left to the right brain such that we can be logical and lyrical in the same sentence. This crystallized intelligence, popularized in Arthur Brooks’ book From Strength to Strength , is valuable because, in a world in which we’re awash in knowledge, we’re desperately in need of the distilled value of wisdom. Wisdom is a social good. It’s meant to be shared as a wise person makes everyone around them better. In your 50s, even if you work with people half your age, you still have relevance, especially as a “motivational listener.” Knowledge speaks, and wisdom listens. You can also look forward to what Erik Erikson calls “generativity,” the desire to positively impact younger people in ways that will survive me. 4. Notice when you have more time affluence. Midlife is when we outgrow our pursuit of happiness and start our practice of joy. If we joyously step off the treadmill and ruthlessly edit our lives, we create the space to become a beginner again. Curiosity and an openness to new experiences are two variables correlated with happiness later in life, so why not create the spaciousness to experience a second adulthood? Midlife offers the opportunity to move from human doing to human being. “In midlife, we should always be a beginner at something.” Our experience of time changes as we age. After all, a year represents 10 percent of a 10-year-old’s life but just 2 percent of a 50-year-old’s life. Researchers explain that we gauge time by memorable events. The more such events, the slower time seems to pass, but because we often have fewer new things to remember as we age, life seems to accelerate. Some people like Chip learned how to surf and speak Spanish at 57 because he asked himself the following questions, “What do I know or have I done now that I wish I’d learned or did ten years ago? More importantly, 10 years from now, what will I regret if I don’t learn it or do it now?” In midlife, we should always be a beginner at something. Experiencing new “firsts” in our lives stretches time. 5. Feel as if you are growing whole We’re growing old, but we’re also growing whole. In the first half of our lives, our “selves” are compartmentalized: the person we are at work is often different from the person we are with our spouse and kids. By midlife, we start to re-member ourselves so that we feel integrated, not scattered. You start to feel a quiet comfort in yourself and in your connection with something bigger than you. As Modern Elder Academy faculty member Richard Rohr suggests, “We live wholeness when we ‘re-member’ our story and, through it, experience a deeper sense of being part of a greater whole.” In our wholeness, we find a holiness, a stirring inside that draws us to meaning and spirit. Getting older means you get better, but only if you recognize it One of the beauties of creating the world’s first midlife wisdom school, MEA, is witnessing people in their 40s, 50s, and 60s becoming whole in the presence of others becoming whole as well. Maybe the midlife “crisis” language should be replaced with a “chrysalis,” such that midlife is a time when we transform from a caterpillar into a butterfly. You may think you’re shattered in midlife, but this is just because life is offering you (with the help of your family and friends) the opportunity to feel the sense of accomplishment to put yourself back together again, piece by piece. Rest assured, you’re not the only one doing this. References: Chip Conley

Having good finances is one way to feel better, but there's more than just that, and a good financial adviser should recognize other ways to look after their clients and increase their well-being Optimism, self-confidence, gratitude, hope, compassion, purpose, empathy—these are all qualities that anyone can own. You just have to learn how. And doing so will change your life. This is called the "S.T.A.G.E.R." framework and it helps you build six key skills: Savor, Thank, Aspire, Give, Empathize, and Revive. Savor Savoring is a quick and easy way to boost optimism and reduce stress and negative emotions. It's the practice of being mindful and noticing the good stuff around you, taking the extra time to prolong and intensify your enjoyment of the moment, making a pleasurable experience last for as long as possible. So whether it's preparing a meal, pausing to admire the sunset, or telling a friend your good news—the idea is to linger, take it in, and enjoy the experience. Eventually it'll become a habit—one you'll never want to break. Research by Dr. Fred Bryant, a professor at Loyola University Chicago who coined the term “savoring,” shows that those who regularly and frequently savor are happier, more optimistic and more satisfied with life. Bryant describes savoring as three-fold, meaning we can savor the past (by reminiscing), savor the future (through positive anticipation) or savor the present (by practicing mindfulness). There are many savoring techniques—and you may find that you gravitate towards some, but not others. Researchers Bryant and Veroff have proposed a number of ways to do this, including savoring with other people, concentrating on the meaning of an activity, incorporating humor, and writing about their experience. These are ways increase your well-being & wellness Give Everything about giving is a no-brainer. Obviously, when you give someone something, you make them happier. But what you might not know is that the giver—not the receiver— reaps even more benefits . Numerous studies show that being kind not only makes us feel less stressed, isolated and angry, but it makes us feel considerably happier, more connected with the world, and more open to new experiences. In one famous study , Dr. Sonja Lyubomirsky asked students to commit five random acts of kindness each week for six weeks. Whereas the control group experienced a reduction in well‑being, those who engaged in acts of kindness showed a 42% increase in happiness. We're happier when we spend money on other people  than when we spend money on ourselves. And another study  found that simply reflecting on nice things we've done for other people can lift our mood. Dr. Stephen Post, a bioethicist at Case Western Reserve University and founder of the Institute for Research on Unlimited Love, is a pioneer in the study of altruism and compassion. His research  shows that when we give of ourselves, everything from life satisfaction to self-realization and physical health is significantly affected. Mortality is delayed. Depression is reduced. Well-being and good fortune are increased. Thank The simple act of identifying and then appreciating the things people do for us is a modern-day wonder drug . It fills us with optimism and self-confidence, knowing that others are there for us. It dampens our desires for “more” of everything—and it deepens our relationships with loved ones. And when we express our gratitude to someone, we get kindness and gratitude in return. In studies led by Dr. Martin Seligman, people have written gratitude letters to someone they've never properly thanked, and seen immediate increases in happiness and decreases in depressive symptoms. Robert Emmons, Professor of Psychology at the University of California, Davis, is a leading researcher in the field of gratitude and author of Thanks: How the New Science of Gratitude Can Make You Happier . He believes everyone should try practicing gratitude because the benefits are so powerful : “First, the practice of gratitude can increase happiness levels by around 25%. Second, this is not hard to achieve. A few hours writing a gratitude journal over 3 weeks can create an effect that lasts 6 months if not more. Third, cultivating gratitude brings other health effects, such as longer and better quality sleep time.” Aspire Feeling hopeful, having a sense of purpose, being optimistic. Study after study shows that people who have created meaning in their lives are happier and more satisfied with their lives. You too can feel more upbeat about your future and your potential. And who doesn't want that? Genuine optimism is a friend magnet. It also makes your goals seem attainable and your challenges easier to overcome. Bottom line: you'll not only feel more successful, you'll be more successful. A person's level of hope is shown to correlate with how well they perform tasks. Using one's strengths in daily life, studies have found, curbs stress and increases self-esteem and vitality. Another study found that participants who were asked to imagine their future in an optimistic light increased their levels of happiness over the next six months. Believing that your goals are within reach promotes a sense of meaning and purpose in life—a key ingredient of happiness. Empathize Empathy is a powerful word packed with lots of different interpretations. It's the ability to care about others. It's the ability to imagine and understand the thoughts, behaviors or ideas of others, including those different from ourselves. If you care about the relationships in your life—and who doesn't?—learning the skill of empathy has enormous payoffs. When we empathize with people, we become less judgmental, less frustrated, angry or disappointed—and we develop patience. We also solidify the bonds with those closest to us. And when we really listen to the points of view of others, they're very likely to listen to ours. Strong relationships are essential to happiness, according to Drs. Ed Diener and Martin Seligman, and practicing empathy will go far in nurturing the relationships in your life. Richard Davidson, professor of psychology at University of Wisconsin-Madison, was one of the first to show that compassion is a skill that we can all learn. He says the brain is constantly changing in response to environmental factors, and this also extends to compassion for the self. Research by Dr. Kristin Neff, a pioneer in the field, suggests that people who have more self-compassion lead healthier, more productive lives than those who are self-critical. Revive Physical health is vital to our overall sense of well‑being. So, what does that mean? The food we eat to fuel our bodies, exercise—whether it’s taking time out to run around with the kids, take a stroll around the block, or hit the gym—and the amount and quality of the sleep we get have a huge impact on our health. Still, even though a Columbia University study has shown that both exercise and good nutrition can have a positive effect on mood and lessen the symptoms of depression, we don’t always take the time we need to look after ourselves or make the right choices. Revive is a call to action, to do something good for yourself today. And so, we can decide to get up from our chair more often and get some exercise, because doing so can help us live longer , we can resolve to plan out our meals in advance to help us make healthier eating choices (and even lose weight!), and we can choose to set a bedtime and wakeup routine that will support good sleep and help us feel energized—all of which can help us thrive. By Happify Our Opinion Why is this being discussed on the blog of a financial advice and planning website? We think that question should be flipped around - "why WOULDN'T this be part of every financial advice website?"  Humans want to feel well and do well. Why not combine feeling well with the beings we are --> "Well-Beings". Human Being + Feeling Well Well - Being What we do at Irvine Wenborn is make sure clients' live their lives to the fullest. We want to know that people are on track and more importantly, that they ' feel it' . You can have $10 million in the bank and feel poor. That might sound ridiculous to the average person, but it's true and you can find that everyone has money problems and worries. EVERY. ONE. So we include information that relates to well-being that goes beyond the numbers and the finances, because money is a means to an end. We strive to make people feel empowered by their finances, and not afraid of them. We believe that any financial adviser that doesn't consider your overall wellbeing, (your lifestyle, your values, your goals) isn't a real adviser and is not worth paying for . They might be a broker, they might be a salesperson, but they are not an adviser, and therefore, shouldn't be telling anyone what to do with their money. If you want to know how to suss out a fraud from someone that knows better, you can read more here . Real financial advice (and by 'real' we mean high quality), should help you avoid regrets and plan for the future better. It should reduce your stress and maybe the most important thing is that it should allow you to understand the potential of your life. Imagine, if you could live the life you wanted, without having to worry if you have 'enough' money, because you are so fulfilled with how your spend your time. If you knew you were going to be OK financially, would you still be doing the same things that you are right now? Would you keep your same job, same hours, same tasks? Some people would but some would not, and advisers that understand their clients can help them shift towards living in a way that feels more free.