The Psychology of Money
When More Is Less: Rethinking Financial Health
A few years ago, there was a campaign to improve adolescent mental health called “Dear 16-yer old me”. You may recall that this campaign revolved around the reassurance we could give our hormone-crazed, moody selves that life would be more manageable one day. This article applies that same reasoning to financial well-being and supports it with research. It equates empowerment with financial satisfaction and suggests that power comes from clearly envisioning the retirement that you want to enjoy. If you can clearly picture what your life will be like a year from now, 5 years from now, on the first day of your retirement and even maybe on the 5th anniversary of your retirement, you can empower yourself to make the small, impactful changes that will turn that vision into a reality. And, you will thank your pre-retirement self for it.