June 2020 Understanding how money affects happiness plays an important role in wealth planning. It can help you discern your need to save as well as what you’re saving toward – goals, lifestyle, causes, legacy. It can help you identify how much to spend and prioritize where or on what. And it can guide you to an investment strategy that helps you achieve your vision of prosperity while retaining financial peace of mind. This month, we explore wealth as a means for cultivating an enduring sense of positivity and satisfaction, then look at some tools for advancing this personal and financial well-being.

MONEY AND HAPPINESS

Contrary to the popular saying, money can buy you happiness. But only if you use it in the right way. Learn what behavioral economists and social psychologists have uncovered in recent years about the layered relationship between wealth and our overall level of contentment in life, plus some methods for maximizing the happiness quotient in your spending. Read the full article .

THE SHAPE OF THINGS TO COME?

V-shaped, U-shaped, the dreaded L. What do these letter-labeled curves mean when they’re used to describe our economic recovery? How are small businesses faring in the COVID-19 climate? Negative interest rates? And are dividend-paying stocks now a good idea? Tune in to our video podcast series, Ask Buckingham, for straightforward answers to these and other top-of-mind wealth planning questions. Watch the videos .

WHAT IS 'BRACKET CREEP' AND HOW DO YOU AVOID IT?

It may sound nightmarishly ominous, but bracket creep essentially refers to the potential for changes in your income to unexpectedly and unknowingly push you into a new rate on the tax tables, maybe resulting in a costly and unpleasant surprise at tax time. Read about some tax-planning strategies to avoid bracket creep, so that you can instead put your dollars to work in the ways most fulfilling to you . Read the full article .

WHAT ILLUSTRATING YOUR WEALTH TRANSFER PLAN CAN SHOW YOU AT A GLANCE

Estate documents are notoriously dense, but a lack of clarity about what’s in them may become an obstacle to implementation – and thus a barrier to your goals. Learn how an illustration or diagram of your wealth transfer plan can help overcome this disconnect by showing you at a glance all the pieces of your estate and the way they flow together to build the legacy you envision. Read the full article .

WHAT THE COVID-19 CRISIS SPELLS FOR EDUCATION PLANNING

From online coursework and canceled athletic events to empty dorm rooms and questions about how universities will handle the fall semester, there seems to be a lot of uncertainty surrounding school and education. This Q&A engages some of the many – and many times high-stake – decisions that students and their parents now face when considering the meaningful investment that is college. Read the full article .