July 2020 You’ve likely heard the saying, “Hope for the best, plan for the worst.” It’s not a bad sentiment; in fact, it holds quite a bit of value. Create a prudent plan – one that anticipates a range of outcomes and has contingencies for them – but orient toward positive outcomes and the belief that your overall approach will lead to success. But what this maxim leaves unsaid is that we can plan for the best, too. Your financial plan, specifically, is designed and built with your best and fullest life in mind. You may, then, choose to see working that plan as an expression of care for yourself and perhaps even of great affection for your loved ones – today, tomorrow and long down the road.

MINIMIZE REGRET OVER MAXIMIZING RETURNS

What yardstick would you use to measure a fruitful life – best returns or fewest regrets? Is “maximizing returns” truly the goal? Would the road toward “minimizing regret” offer a more connected and satisfying journey? Learn what it means to view your financial decisions through the lens of regret minimization as much as through the lens of return maximization. Read the full article .

ACING THE TEST

Think of recent market events like an ongoing test. Maybe even a really hard one. The study guide, though, is brief: Bear markets are simply a feature of the stock market; there’s always something, or something else, to worry about; your investment strategy is based on evidence, data and logic; don’t confuse strategy with outcome. Here’s what else you need to know to help ace your financial plan. Read the full article .

CULTIVATING AN ABUNDANCE MINDSET, EVEN IN DIFFICULT TIMES

Adopting an abundance mindset allows us to be proactive and expansive, to see possibility rather than limits. Learn how the practice of nurturing this perspective can be particularly helpful in creating powerful, positive momentum toward a sense of better financial wellbeing, especially when coupled with a sound and long-term plan for your wealth. Read the full article .

END-OF-LIFE PLANNING REFRAMED

Talking to your loved ones about end-of-life wishes can be intimidating, and COVID-19 has done nothing to change that. But these often difficult discussions can be essential starting points for ensuring an enduring legacy. This episode of our video podcast series, Ask Buckingham , explores what the pandemic has taught us about the importance of end-of-life planning. Watch the video .

HAVE A CONVERSATION, FOR YOU AND YOUR FAMILY

Have you ever been responsible for helping a loved one deal with health concerns, perhaps in the hospital or another medical setting? If so, you know it’s not easy, especially if the issue is significant, ongoing, or emerges without notice. Learn how to prepare for these situations – now and in the future – and why doing so can be generative and an act of kindness. Read the full article .

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