Does Overindulgence Make You Happy? – Why We Binge as a Way of Celebrating

Five takeaways:

  1. Overindulging in food can make people happy, especially if they do it with loved ones. The long-term effects of overindulging, such as weight gain, may not be as detrimental to happiness as commonly believed.
  2. While the health effects of overeating habitually are not up for debate, Brooks argues that fitness influencers and the dieting industry make us believe that any overeating is a cardinal sin. It is not!
  3. A study of 23,000 Dutch citizens found that moderately overweight people were just as happy and satisfied with their lives as people with a normal weight.
  4. Brooks suggests that rather than worrying about weight gain, people should focus on the pleasure and enjoyment that comes from eating and socializing with loved ones during the holiday season.
  5. Brooks offers three final tips for enjoying festive dining– and avoiding negative physical or emotional effects when it comes to holiday overeating:
    • Confine the feast to the day of the celebration: Eat heartily on the day, but don’t overindulge in leftovers.
    • Remember to pause and be grateful: be mindful of not just the food, but the atmosphere and loved ones nearby. It will create a stronger lasting memory than any meal might on its own.
    • Don’t beat yourself up: Feeling guilty won’t help you recover, and will only make your holiday that much less enjoyable. Enjoy the holiday as much as you can and be ready to revert to better habits in the days that follow.

From Arthur C. Brooks at The Atlantic:
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This site may contain links to articles or other information that may be contained on a third-party website. Advisory Services Network, LLC and MAP Strategic Wealth Advisors are not responsible for and do not control, adopt, or endorse any content contained on any third party website. The information and material contained in linked articles is of a general nature and is intended for educational purposes only. Links to articles do not constitute a recommendation or a solicitation or offer of the purchase or sale of securities.

9 Financial Moves to Make Before You Ring in 2023

Nine takeaways:

Amid a great deal of uncertainty, we should all be looking for ways to prepare our finances for the year ahead. This article provides 9 tactics you can take to do so:

  1. Update Your Budget – New market conditions call for a new, and possibly more conservative, budget. A disciplined approach to spending can alleviate the burden of stress that comes from spending more than you earn.
  2. Make a Plan for Your Student Loans – For those with student debt, note that federal student loan payments are still paused. That said, do not anticipate that pause being indefinite; be careful with any money saved. Be ready for the payment pause to come to an end. MAP suggests continuing paying down any student debt that you may have as deferred interest will offer advantageous benefits to pay down principal faster.
  3. Open a high-yield savings account – Banks like Capital One are offering yields as high as 3% (be weary of fees). MAP encourages buying low-risk fixed income investments with cash reserves to enhance yield on your cash.
  4. Prioritize paying down high-interest debt – Rising interest rates are good for savers but can make your debt more expensive. If interest rates keep rising, consider consolidating CC debt with a personal loan, which can be more cost-effective if the loan has a lower APR. Analyze your debt, and find a deal that best aligns with your goals.
  5. Save a little extra in retirement accounts – In 2023, the contribution limit for 401(k)s increases to $22,500 (and to $30,000 for those over 50 years of age). Even if you can’t max out retirement contributions, try increasing them slightly. Even a small amount can add up generously over time. In lieu of employer-sponsored retirement accounts don’t forget about your Traditional and Roth IRA accounts which have contribution limits up to $6,000.
  6. Spend down your FSA – If you have a Flexible Spending Account through your health insurance, you likely lose unspent money when midnight strikes on December 31st. Check out FSAstore.com or Amazon’s FSA store to easily find products and services eligible for your remaining funds.
  7. Check Your credit report – Now is the time for a check of your credit report for inaccuracies or possible fraud, or just to see what adjustments are needed to bring up your score. Go to https://www.annualcreditreport.com/ where you can access Equifax, Transunion, and Experian for free.
  8. Evaluate tax loss harvesting opportunities – It has been a turbulent year in the markets. Tax loss harvesting is a strategy that reduces capital gains taxes. It may be worth asking your financial advisor about this strategy.
  9. Consider a Roth Conversion – A down market can be favorable when converting a Traditional IRA to a Roth IRA as it can potentially result in a lower tax bill at conversion. Also, any market rebound that might occur will grow tax-free in a Roth Account. While this strategy sounds attractive and is potentially viable for some, it warrants further conversation with your advisor and/or CPA.

From Alicia Adamczyk for Fortune
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This site may contain links to articles or other information that may be contained on a third-party website. Advisory Services Network, LLC and MAP Strategic Wealth Advisors are not responsible for and do not control, adopt, or endorse any content contained on any third party website. The information and material contained in linked articles is of a general nature and is intended for educational purposes only. Links to articles do not constitute a recommendation or a solicitation or offer of the purchase or sale of securities.

Seven Books That Will Make You Smarter

Takeaways:

This is an article detailing seven books that “investigate what our society values and what it’s built on, driving us to the monumental, the sublime, the quintessentially human.” They are:

  1. Transformer: The Deep Chemistry of Life and Death by Nick Lane: This book is an exploration of the genesis of life on earth. Lane focuses on millions of years of evolution and the planet’s twists and turns—the Great Oxidation Event, the Cambrian explosion—while profiling visionary scientists. He beautifully lays out the sheer improbability of our biosphere, explains why life may be so rare in our universe, and considers death as a process, not simply as an instantaneous end.
  2. David Smith: The Art and Life of a Transformational Sculptorby Michael Brenson: This biography of the versatile 20th Century American sculptor David Smith provides a fascinating look at the mind and profile of a legendary artist, but also explores the tensions between abstraction and representation– while richly conveying the backdrop of 20th Century political and cultural change that took place during Smith’s career.
  3. Capital in the Twenty-First Century, by Thomas Piketty: Looking to the past to explain modern capitalism, this surprise bestseller investigates the forces that cause and intensify economic stratification. Calling on historical events and thinkers of the 20th Century, Piketty credits capitalism with improving efficiency– while creating economic divides that push the bounds of morality.
  4. The Hemingses of Monticello: An American Family, by Annette Gordon-Reed: This is a meticulously researched look at the relationship between founding father Thomas Jefferson and a family he enslaved, the Hemingses. Gordon-Reed, a law professor and historian, unspools this saga in her magisterial Pulitzer Prize–winning exploration of this relationship. This incredible, galling story shows that Jefferson’s life is inextricable from the Hemingses– just as America’s history is inextricable from slavery.
  5. Democracy’s Data: The Hidden Stories in the U.S. Census and How to Read Them, by Dan Bouk – This is a cultural history about how we collect and process info about our population, and how we might learn from it. Written by an accomplished data analyst, the book shows that the explosion of cities and suburbs poses challenges to our frail—and, in some cases, outdated—political institutions. As sweeping demographic change has escalated in recent decades—a surge in immigration and a sorting of the parties between cities and suburbs for Democrats and rural counties for Republicans—so too have disputed elections and the threat of gridlock. This searching, textured inquiry illuminates how much simple population figures can teach us.
  6. Apollo’s Angels: A History of Ballet, by Jennifer Homans: This 2010 history charts the arc of ballet from its origins in Renaissance Italian and French courts to the dawn of the 21st century. It takes the time to insightfully look at the way ballet as an art form has intersected with political ideas over the past 500 years. Overall, this book is not just a cultural history of the art of ballet, it becomes a prism through which to contemplate the human physique and human capability as a whole.
  7. The Song of the Cell: An Exploration of Medicine and the New Human, by Siddhartha Mukherjee: Mukherjee is a Pulitzer Prize-winning oncologist whose new book is an expansive study of the cell– the common denominator of all life– and its dizzying range of types and functions. Cells are anything but simple structures, he argues; rather, they’re sinuous ecosystems, and they come together at a dazzling scale in the body. Understanding the cell is the key to an age of personalized medicine, Mukherjee argues: Are we ready to embrace it?

From Hamilton Cain at The Atlantic:
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This site may contain links to articles or other information that may be contained on a third-party website. Advisory Services Network, LLC and MAP Strategic Wealth Advisors are not responsible for and do not control, adopt, or endorse any content contained on any third party website. The information and material contained in linked articles is of a general nature and is intended for educational purposes only. Links to articles do not constitute a recommendation or a solicitation or offer of the purchase or sale of securities.

You’re Choosing a Gift. Here’s What Not to Do

Five takeaways:

  1. First, ignore the price when picking out a gift, because price is not correlated with the level to which a recipient will cherish a gift. When researchers asked people to recall a gift they gave and then to rate how much they thought recipients liked it, higher prices went with higher ratings. But when people made the same ratings for a gift they had received, price was completely unrelated to enjoyment!
  2. Second, do not overlook the utility of the gift. Think about how the recipient will use the gift, what benefit it will bring into their lives.
  3. Third, remember that recipients will not mind waiting for their gift to be useful. It doesn’t need to have a “wow” factor the moment they open the gift; a gift certificate to a well-chosen store may not seem like an amazing gift, but it will be more satisfying to the recipient long term.
  4. Next, listen to what they ask for. Gift givers think that surprising someone adds value because it shows thoughtfulness. Oftentimes, this just leads to miscues. Recipients will love having their wishes honored.
  5. Lastly- remember research continually shows that the gift of experiences often leads to more long-lasting satisfaction than new possessions.

From Daniel T. Willingham at The New York Times:
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This site may contain links to articles or other information that may be contained on a third-party website. Advisory Services Network, LLC and MAP Strategic Wealth Advisors are not responsible for and do not control, adopt, or endorse any content contained on any third party website. The information and material contained in linked articles is of a general nature and is intended for educational purposes only. Links to articles do not constitute a recommendation or a solicitation or offer of the purchase or sale of securities.