Wealthfulness: Simple Steps to Financial Health and Happiness

Wealthfulness: Simple Steps to Financial Health and Happiness

by Lance Alston


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Discover how to achieve financial wellness and real worth and happiness through experienced financial planner Lance Alston's approach to life. Wealthfulness: Simple Steps to Financial Health and Happiness teaches readers how to find the balance between financial and emotional satisfaction in order to live a truly meaningful life.

Product Details

ISBN-13: 9781612548692
Publisher: Brown Books Publishing Group
Publication date: 01/02/2018
Pages: 138
Product dimensions: 5.30(w) x 7.10(h) x 0.90(d)

About the Author

Lance Alstonis the Founder and President of New Dimensions Wealth Management, LLC. He holds a master's in economics from George Mason University and a Bachelor's from The University of Texas at Austin. As the co-host of a personal finance podcast (2005-2008) he interviewed a wide range of guests from the fields of economics, finance and public policy: best-selling authors; members of the Cabinet, OMB, Federal Reserve and Congress; and a handful of Nobel Laureates in economics. Alston has personally helped more than 500 families create a customized financial plan for their future during his 19-year career. Those experiences have taught him a few important lessons - uncomplicated solutions are usually best, investing costs are very important, and money isn't everything. In his free time he enjoys traveling with his two daughters, Claire and Olivia.

Table of Contents

Acknowledgments ix

Preface xiii

Introduction 1

1 Money and Mindfulness: Be Mindful of Your Financial World 13

Remove Those Roadblocks 21

Get Ready for Change 25

2 Money and Markets: There Is an Easier and Better Way to Invest 29

Ask Yourself Why You Own Stocks in the First Place 33

Choose a Better Way to Invest 39

Accept What the Markets Give You 47

3 Money and Your Brain: Making Better Financial Decisions 59

Avoiding Emotional Mistakes-Taming the Elephant 64

Black Monday-October 19, 1987 64

The Trust Paradox-Do You Still Trust Your Bank? 68

False Assumptions Can Distort Our View of the World 75

Composition Fallacy 75

Overconfidence-Are You Too Confident in Your Investing Skills and Your Future? 79

Who Takes the Risk, and Who Bears the Cost? 80

Miscalculations and Misestimations-Why We're Not Very Good at financial Planning 84

Discounting the Future 87

Loss Aversion-We Really, Really Hate to Lose Money 90

The Arrow of Time-You Can't Change the Past 94

4 Money and Happiness: Rethinking the Relationship 97

Choice Conflict-Limit Your Options if You Want to Be Happier 103

Running Toward a Number 106

Conspicuous Consumption-Who's Watching What You Buy? 109

The Two Most Dangerous Times In Your Life-Birth and Retirement 111

5 Money and Your Goals: Ideas to Help You Take Action 119

Setting Goals Works 120

Voluntary Simplicity 121

Nudge-The Art and Science of Getting Better Decisions 125

Feedback Loops-How Information Helps Us Make Better Decisions 128

Conclusion 131

Recommended Reading 133

Notes 137

About the Author 149

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