All About Food Deserts

June 29, 2020

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Denise and Chris Arand

Denise and Chris Arand

Executive Vice Presidents/Financial Strategists

2173 Salk Ave
#250
Carlsbad, CA 92008

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March 16, 2020

Can You Buy Happiness?

Can You Buy Happiness?

Let’s face it: There’s a relationship between money and happiness.

Anyone who’s looked at their savings account during a market correction or has lived paycheck to paycheck knows that not having enough money can be incredibly stressful. But there’s also a fair chance that you know of someone who’s wealthy (i.e., seems to have plenty of money) but is often miserable. So what exactly is the relationship between money and happiness? Let’s start by looking a little closer at happiness.

Happiness is really complicated
There is no single key to happiness. Close relationships, exercise, and stress management all may play a role in increasing emotional well-being. Little things like journaling, going on a walk, and listening to upbeat music can also help lift your mood. But none of those factors alone makes you happy—most of them actually turn out to be interrelated. It’s hard to maintain strong personal relationships if you take out your work stress on your friends! Assuming that money alone will outweigh a bad relationship, high stress, and an unhealthy lifestyle is a skewed mindset.

Money contributes to happiness
That being said, money can certainly contribute to happiness. For one, It’s a metric we use to figure out how much we’ve accomplished in our lives. It helps to boost confidence in our achievements if we’ve been handsomely rewarded. But more importantly, the absence of money can be a huge cause of dismay. It’s easy to see why; constantly wondering if you can pay your bills, fending off debt collectors, and worrying about retirement can take a serious emotional toll. In fact, having more money essentially only supports greater emotional well-being until you reach an income of about $75,000 (1). People felt better about how much they had accomplished past that point, but their day-to-day emotional lives pretty much stayed the same.

What’s the takeaway?
In short, you can’t technically buy happiness. However, taking control of your financial life definitely has emotional benefits. You may increase your feeling of wellbeing if your income gets boosted to a point, but it’s not a silver bullet that will solve all of your problems. Instead, try to think of your finances as one of the many factors in your life that has to be balanced with things like friendship, adventure, and generosity.

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March 2, 2020

Cities vs. Suburbs

Cities vs. Suburbs

Deciding where to live is hard.

It’s a big decision that’s impacted by the financial situation you’re in and your personal preferences. That’s why it’s important to know what to expect from the options you’re weighing. Here’s a quick guide to the pros and cons of living in a city or a suburb!

Cities: Pros and Cons
There’s a reason people flock to cities. First and foremost, jobs tend to be easier to find in the city than anywhere else. That means there’s a high incentive to move into town close to where you work. But that’s not the only reason to go urban. Cities are often more walkable than suburbs or the country and often feature extensive public transit. All the culture, nights out, museums, and coffee shops that your city has to offer are all easily accessible either on foot or with a quick subway ride.

But there’s a price to pay for the convenience of city living. Urban housing is typically higher than other areas, and normal things like a date night dinner will probably be pricier than elsewhere. Crime is also higher in the city than the suburbs or the country, so situational awareness is a key skill to develop if you’re living in-town (1).

Suburbs: Pros and Cons
The suburbs are designed to give you access to the benefits of the city while offsetting some of the costs. For starters, your dollar will probably go farther for housing in the suburbs than it will in the city. Suburbs tend to be safer and offer more space, making it appealing to people looking to start a family or couples with kids. Plus, if you’re lucky, you could be a similar distance from the countryside as the city, so you’re flexible between choosing a night in the city or a hike in the woods!

However, it isn’t all sunshine and roses for suburbanites. Housing might be cheaper per square foot, but houses also tend to be larger. That means you can actually end up paying more for housing in the suburbs even though you’re technically getting a better deal square footage-wise. The other big downside is that transportation in the suburbs can be brutal. The cost of driving a car in traffic every day can be high, so much so that suburban transportation can be almost as expensive as urban housing (2). That’s not even factoring in the stress of dealing with traffic.

Deciding where to live comes down to what you prioritize and your stage of life. Are you a young professional with a new job downtown? It might make more sense to move closer to work and be near where everything is happening. The same might also hold for a recently retired couple looking for easy access to quality medical care and date spots. A young family looking for a safer space to raise kids, however, could potentially want to look further out for housing. Just take a few of the factors we discussed in this blog to heart before you make the big decision!

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February 20, 2019

Your health and your finances

Your health and your finances

Staying healthy has obvious physical benefits, like the chance for a longer and higher quality of life.

There is also the increased opportunity to partake in physical activities like team sports, or hiking and skydiving.

But there are also potential financial benefits to staying healthy. These may manifest in lower insurance premiums, lower medical care costs, and other less obvious ways.

The Immediate Benefits
Some benefits may be immediately observable, like a potential drop in insurance premiums for those who quit smoking or who allow an insurance company to track their daily exercise goals and accomplishments.[i] Of course, a healthier body may translate to fewer doctor visits and medication expenses, which may mean lower costs for anyone with high deductibles and copays.

For family members, a longer, healthier, higher quality life may also mean fewer expenses in your twilight years, when senior citizens may continue to live in their own homes without assistance. Of course, genetics play a role in the development and progress of health, but many leading causes of death may be entirely or partially preventable.[ii] Actively pursuing a healthy lifestyle may lead to lower risk of disease and debilitation.

Health and life insurance companies want to attract these kinds of clients (who are long-lived, make fewer claims, and pay premiums for a greater amount of time), so these companies may offer benefits in return. Family members and friends may potentially have less to pay for end-of-life care and even benefit from being able to spend more time with loved ones. This may produce positive financial results, like fewer sick days from stress-related illness and better mental health.

The Less Obvious Benefits
Lower insurance premiums, lower medical costs, and more time to live in a meaningful way are obvious potential benefits of good health. But many latent financial benefits are also derived from maintaining good health. One example is being able to perform certain daily activities that may save you money.

Those with health problems often simply cannot perform tasks that may be taken for granted by healthy individuals, like packing and moving house, walking to the grocery store 15 minutes away, or living in a more affordable walk up building on a non-ground floor. Those who are unhealthy may need to hire people to help them move, to shop for them, or be required to pay a premium for access to a building with an elevator (or potentially even more costly, have a chair lift installed in their home).

A possible benefit of healthier eating is an appreciation for more subtle tastes that are not overpowered by sugar and salt. Those who regularly eat low salt or low sugar foods may create a positive feedback cycle wherein they remain healthy because they start to truly enjoy healthier food. This can lead to a wider range of options of enjoyable food and may help lower food costs.[iii]

Saving on transportation costs can be a benefit of health as well if you’re able to bike or walk to work. Living too far from your place of employment may make this impossible, but for those who live nearby, commuting by bicycle or walking on days with suitable weather may cut down costs on transportation while simultaneously providing the benefit of exercise.

One of the less evident but easily identifiable benefits of maintaining good health may be stronger cognitive abilities and better mood balancing. Eating healthy[iv] may contribute to brain health, while regular exercise[v] may help stimulate improved memory function and thinking skills. Better health may lead to more opportunities. Improved mood may also help navigate society more adeptly, possibly leading to even further opportunity, both economically and in personal fulfillment.

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