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Young adults today are more perfectionist and report more pressure from their parents than previous generations

Five takeaways:

New research shows that young adults are showing a higher propensity for perfectionism as they deal with increases in critical parenting and higher parental expectation.

The study’s authors noted that society increasingly encourages competition and individualism, which might push parents to place greater pressure on their children’s success. A perfectionist mindset would be a logical next step for a child seeking parental validation.

The study differentiates between “self-oriented perfectionism” and “socially prescribed perfectionism,” which is more common and more powerful– it arises from social cues like parental or peer pressure and is correlated to societal/cultural trends.

One of the study’s authors noted that “Parents are not to blame,” as the pressure they are putting on their children is more so an anxious reaction to “a hyper-competitive world with ferocious academic pressures, runaway inequality, and technological innovations like social media that propagate unrealistic ideals of how we should appear and perform.”

Various market/financial factors are contributing to another fact that will weigh upon young and early-career workers: that young people will need to work far harder than their parents, and earn much more, just to attain the same standard of living. This adds to the mental health burden.

From Beth Ellwood for PsyPost
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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.

20 Facts You Never Knew About the 4th of July

Five takeaways:

This article has some of the most surprising 4th of July trivia we’ve seen. While we think you should check out the whole thing, here are some highlights!

Although the Declaration of Independence was dated July 4th, it was actually voted on July 2nd. John Adams used to turn down invites to 4th of July events in protest of the wrongful date!

In July 1776, there were 2.5 million people living in the US. There are now 331.8 million in the US according to the US Census Bureau.

Three future presidents who signed the Declaration of Independence would go on to pass away on the 4th of July. John Adams and Thomas Jefferson both died on July 4, 1826, while James Monroe died on July 4, 1831.

Thomas Jefferson wrote that a new constitution should be written every 19 years. Not doing so, he said, meant that “the lands would belong to the dead, and not to the living, which would be the reverse of our principle.”

The National Hot Dog and Sausage Council, which apparently really exists, estimates that 150 Million hot dogs are consumed each 4th of July.

From Amina Lake Abdelrahman of Good Housekeeping:
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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.

Here’s How Financial Education Can Improve Your Health

Five takeaways:

A new American Journal of Lifestyle Medicine study shows that intentional awareness and knowledge of topics relating to personal finance—including learning about credit cards, saving, and overall money management— is directly tied to improved health.

The study found that participants who completed a financial success program (FSP) had significantly reduced medical costs, higher rates of smoking cessation, and, of course, reduced financial strain.

Reduced financial strain results in individuals having the means to engage in a healthy lifestyle: to purchase healthy foods, live in nicer areas, go to gyms, and obtain more hands-on medical care.

Survey after survey shows that financial stress is the leading cause of stress in the United States, and that stress has hugely negative effects on overall health. People under significant financial stress are more likely to engage in unhealthy habits such as smoking, drinking, and unhealthy diets.

Kortney Ziegler, PhD, Stanford University CCSRE Race & Technology Practitioner Fellow and CEO of WellMoney, urged readers to pursue greater financial understanding today– noting that huge educational resources are available online for free.

From Alyssa Hui at Health:
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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.

Predicting the Future with Bayes Theorem

Five takeaways:

This article explores Bayes Theorem, which provides a useful framework for integrating probability into your daily decision making.

If a friend rolls a dice and covers it, and asks you to guess the #, your chance is 1/6. If they then say that it is an even #, your chance becomes 1/3. If they then say that it is not 4, you know you have two possible guesses and a 50% chance of guessing correctly. You have used new information to assess the situation and make the most educated guess possible: a Bayes-ian analysis.

The Bayes Theorem involves conscious use of all relevant, up-to-date information in building probability as you make a decision. It forces us to pause and consciously open our thought process beyond the initial gut reaction.

Using Bayes Theorem can be helpful in reminding you that immediate perception is imperfect. It reminds you to take a step back from initial judgment and assess all contexts involved in a decision.

Someone who rejects Bayes-ian theory instinctively rejects new information, relying on preconceived notions. They are less likely to change their mind on anything, and thus more likely to lose out on productive discourse and decision making.

From Fs Blog:
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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.