If you think money can’t buy happiness, you’re not spending it right! At least, that is the conclusion of researchers Elizabeth Dunn and Michael Norton, two rising stars in of the world of behavioral science.
In Happy Money, Dunn and Norton provide an engaging and often entertaining tour of the latest research that shows, from the standpoint of personal well-being, how we can get the biggest bang for our bucks. (more…)
By: Vidhya Babu
Think twice before guffawing over the idea of addressing social media in your will. Not only can it make life easier for your survivors, a social media will is recommended by the United States Government.
After, or in anticipation of, any lifetime change, we suggest clients review their estate plans. The sale or purchase of a business, a windfall, divorce and marriage are all reasons to update your plan. Ultimately, your estate plan carries on your wishes when you pass away, and if you have personal, musical or other interests online, giving directions and naming an administrator of your online identity is important. (more…)
“Money Maturity does include skills, such as understanding investment options and using a budget effectively, but it goes much deeper—to the feelings, the heart, and yes, the soul. Money Maturity helps resolve the troubling emotional conflicts around money that never seem to go away.”
The Seven Stages of Money Maturity (more…)
In the past, the transition to retirement has been viewed solely as an economic event. As a result, the focus of retirement planning has always been on building a nest egg.
In The Late-Start Investor, author John Wasik recommends discarding this obsolete view in favor of a “flexible life plan that provides for financial, vocational, physical, emotional, and spiritual needs.” He explains, “Unless you look at your future holistically, merely saving up a pile of money will be a meaningless act.” (more…)
By Melissa Tosetti
When you walk into your home after a long day at work, do you:
- Immediately feel the stress of the day melt from your shoulders or…
- Cringe at the piles of clutter creeping out from every corner, cower from the piles of unfolded laundry and tremble at the sight of the kitchen sink full of dirty dishes?
Although a number of studies have focused on the effect of income on happiness, Elizabeth Dunn, a social psychologist at the University of British Columbia, also wanted to understand the effect of spending choices on happiness.
For example, previous research clearly demonstrated that income has a predictably positive effect on level of happiness, but these levels remain flat over time even as income increases. This finding puzzled Dunn and she wanted to find out why happiness did not increase along with income. (more…)