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The Problem With ‘No Regrets’

Five takeaways:

  1. While a “no regrets” mindset might sound freeing, it falsely suggests that life can and should be lived without “looking through the rearview mirror.”
  2. A 2020 study of 15,000 people in 105 countries showed that 82% percent of respondents said they feel regret occasionally; 21% said they feel regret “all the time”; and 1% said they never feel regret.
  3. While being overwhelmed by regret is unhealthy, forcing yourself to completely do away with regret completely will curse you to repeat your mistakes
  4. Brooks cites a recent book by Daniel H. Pink that breaks regret into four different types:
    • Connection regret– regret over harmed or broken or lost relationships
    • Moral regret – regret over the violation of your own values
    • Foundation regret – regret over decisions that had a profound effect on your life (like wishing you had not moved to a city, or picked a different college major)
    • Boldness regret – regret over inaction or foregone opportunities
  5. Regret can overwhelm you, but shunning them is a lost opportunity to grow. We must learn from every aspect of our lives.

From Arthur C. Brooks at The Atlantic:
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Note: At the time of this posting The Atlantic offers five free article views per month.

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.

This Mom Is Charging Her 5-Year-Old “Rent”

Five takeaways:

  1. This article is about a mom who charges her five year old daughter $5 out of her $7 weekly allowance– for rent, utilities, food, water, and cable. The remaining $2 is the child’s money to spend however she wishes. The $5 that the mother takes for “bills” actually goes into a savings account she’ll give to her daughter when she turns 18.
  2. The piece debates the merits of such a plan– ultimately applauding the mother for making the value of money less abstract.
  3. Teaching kids that bills come before less necessary expenditures can have hugely positive long term effects.
  4. This practice can teach children that nothing in life is free and that budgeting is the key to saving for things you want.
  5. It can also help overcome a child’s sense of immediate gratification. Saving will introduce the concept of delayed gratification, which will help them become less impulsive.

From Denise Hill at WiseBread:
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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.

Retirement Is A Transition, Not A Destination

Five takeaways:

  1. This article provides a useful reframe of the idea of retirement and retirement saving.
  2. Life expectancy has never been higher, and thus retirement is now viewed more as a “reinvention” than a transition to one’s elderly years.
  3. As important as a financial safety net, is deep consideration of new motivation, activity, and purpose in retirement.
  4. The article cites author William Bridges, who said that every life transition has “an ending, a ‘neutral period’ or period of ‘unknown,’ and a new beginning.
  5. The article urges readers to look at their retirement as a new chapter in a life portfolio– one you need to periodically reevaluate as you would a financial portfolio. This means being forward thinking and willing to adjust.

From Dorian Mintzer at Forbes:
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Note: At the time of this posting Forbes offers 4 free article views per month.

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.

A Profession Is Not a Personality

Five takeaways:

  1. In today’s fast-paced work culture, too many of us “self-objectify” in the workplace, striving past our own physical or mental comfort zones to become “work machines” and “tools of performance.”
  2. If work conditions give us the feeling of “being used as a tool,” rather than feeling recognized and valuable in a work environment, and not being recognized as an agent in the working environment, we are more likely to experience burnout, depression, and other workplace issues.
  3. Brooks wants readers to ask themselves: Is your job the biggest part of your identity? Do you find yourself sacrificing love relationships for work? Do you have trouble imagining being happy if you were to lose your job or career? If you answer in the affirmative, to any or all of these, you might accidentally be self-objectifying in the workplace.
  4. Brooks offers two helpful tactics to self-objectifying in the workplace: 1) enforcing a strict work/life boundary on weekends and on vacations and 2) Spend time with people who have no connection to your work.
  5. Brooks notes that it takes courage to experience your full life and true self when work demands so much of us, but that we must!

From Arthur C. Brooks at The Atlantic:

Read the whole story.

Note: At the time of this posting The Atlantic offers five free article views per month.

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.
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