Issue #142: Have a Money Plan
Good morning. It’s Tuesday, March 7th.
Today’s Quick Win
From the Lab: Guest Post from a Financial Advisor
Speed Read: Sharks and Camels
Tuesday QR: Matcha Coconut Energy Balls
Bucket List: Auckland, NZ
“Too many people spend money they earned to buy things they don’t want to impress people that they don’t like.”
Increase in lifespan for college-educated men, compared to inner-city Boston men in the Harvard Happiness Study.
From the Lab | Guest Post
Note from Thrive25: This is NOT a paid partnership. We often seek out experts smarter than us to help with certain topics. We asked Chris to share his insights because he uses a different approach when it comes to financial planning.
I help clients manage their financial lives, but as you saw in yesterday’s Issue of Thrive25:
Money = Stress = 6 Leading Causes of Death*
That’s why I see my mission is really helping my clients with their overall health & longevity. I’m excited to partner with Thrive25 to get out the message of how to reframe our relationship with money.
Most of us THINK we have a plan, but do we really?
Do you:
1. Want to have as much money as possible?
or
2. Want your financial resources to serve your pursuit of happiness & fulfillment?
You can probably tell where this is going.
But what’s not obvious is the why and how #2 can actually improve your health & longevity.
The challenge with “as much as possible” - what does this really mean? It’s literally unachievable. (see Issue #93 re: goals)
You’re setting yourself up for failure and disappointment if you're going after an unquantifiable goal, and this is what leads to the vicious cycle of constantly chasing “more” and never feeling like it’s enough.
Instead, think about your financial resources as a means to an end - your happiness & fulfillment.
Like most things when it comes to health and longevity, the best strategy is simple but not always easy, and it's also totally worth making the effort. Here's what you need to do...
Determine the main drivers of your happiness. Create an “Ideal Life Vision” for what you really want in life to create joy. This takes time and effort, but this is the blueprint for your future
Figure out the cost to fund these drivers (priorities) over your lifetime. Get to a number but don't forget about taxes, inflation, cost of investments, etc.
Determine the return you need from your financial resources to achieve your priorities (this is a “liability driven investing” approach)
Invest in a way that supports your goals and doesn’t increase your stress (I see so many people invest in high-risk, high-return assets when in reality they aren’t ok with the emotional stress of the daily swings involved with taking higher amounts of risk)
Don’t get stuck in the race to get as much as possible - you’ll never get there and take away from your happiness & fulfillment along the way.
Want more info about Chris and his firm? They support founders and entrepreneurs in their 30's & 40's and have created the Personal Five Oceans Process™, which encompasses finances, career, health, relationships and fun (you know - pillars of health & longevity). To check out Five Oceans Advisors - click HERE.
*6 Leading Causes of Death: Heart Disease, Cancer, Lung Ailments, Accidents, Liver Disease, Suicide
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Speed Read
Health & Longevity in the News
Save $ + Fight Climate Change?: Sold. As part of the Inflation Reduction Act, you can now save thousands when you buy an electric car, heat pump, solar panels or energy-efficient appliances. Check out these guidelines to take advantage of the savings. (NYTimes)
Finally! Shorter is Better: Says Max at 5’ 8” - he’s always looked up at others. Now, maybe they should look up to him? Several studies are pointing to shorter being better and may be part of the reason women live longer than men. (CNBC)
Hear the Joke About the Camel and the Shark?: Me neither. But both animals produce antibodies that may change medicine. The proteins created by these animals are smaller, stronger, and relatively cheap to mass produce. (Knowable)
Tuesday QR (Quick Recipe)
These coconut matcha energy balls are an easy, healthy make-ahead snack. Matcha provides an added boost of energy and nutrition benefits. Recipe is vegan, gluten-free, and no-bake!
Bucket List | Auckland, NZ
(hint: it’s summer down under)
I absolutely loved my trip to Auckland. I even know friends who went for a visit and never left! I mean it's got beautiful rainforests and awesome beaches right next to the downtown city center. Hike natural waterfalls, grab your board and surf the wild west coast, explore along the coast in a kayak, or snorkel/scuba to explore the underwater wildlife - at the same time dine on fine cuisine that rivals Paris.
Want some recommendations? The Waitakere Ranges Regional Park that boasts 250 kilometers (that's 160 miles) of walking and hiking tracks through lush native rainforest, past cascading waterfalls and along a magnificent coastline. Walk through the region’s largest native forest in the Hunua Ranges or explore the striking landscapes of some of Auckland’s 26 regional parks.
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Why Thrive25
We’re 40-something dads that felt our bodies and minds start to slow down and we’re not ready for that. We found too much information on every subject. So we started Thrive25 to transform what we’ve learned into something useful for the rest of us to spend just 3-5 min a day to optimize our health & longevity.
This newsletter is for you and we truly value your feedback. Never hesitate to reach out to us at team@thrive25.com.
To health!
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The information in this newsletter is for informational purposes only and may not be appropriate or applicable based on your individual circumstances. Thrive25 Labs LLC does not provide medical, professional, or licensed advice. Please connect with your healthcare professional for medical advice specific to your health needs.