The Pandemic has Changed Perceptions of Wealth & Well-Being

Recent studies indicate that the pandemic has prompted many to reevaluate the meaning and purpose of wealth. For example, the annual “Modern Wealth Survey” revealed that lifestyle priorities have changed for a majority (68%) of Americans due to COVID-19. Among those who reported that their priorities had shifted, top choices included mental health (69%), relationships (57%), financial health (54%), and physical health (39%). (more…)

Finding the Silver Lining

According to Charles Schwab’s 2020 Modern Wealth Survey, 57 percent of Americans say they or a close family member have been financially impacted by COVID-19. In addition, nearly 15 percent reported being more financially stressed as compared to the end of 2019 before the widespread outbreak, and express concern that their increasing stress might have a lasting effect. (more…)

Wealth Planning for Life’s Uncertainties

As events this year have reminded us, uncertainty is always a factor when it comes to the economy and markets. It’s also a common companion in other areas of our lives, often with real financial ramifications in those instances as well. But you have a plan for that. It’s built with an eye toward managing those inevitable uncertainties and controlling what you can. Importantly, it should include a wealth transfer component designed to achieve the legacy you envision while providing for your loved ones in the way you intend. So, check off each of the following must-have documents you’ve prepared to solidify your wealth transfer plans. See where you stand. Then consider sharing this list with someone you care about. (more…)

Change vs Transition

Change is situational. Transition, on the other hand, is psychological.  It is not those events but rather the inner reorientation or self-redefinition that you have to go through in order to incorporate any of those changes into your life.

William Bridges, PhD
Transitions: Making Sense of Life’s Change (more…)