At Schultz Financial Group (SFG), we view wealth differently through our Four Capital approach. Our team works with you to build your wealth across Four Capitals – Financial Matters, Physical Well-being, Intellectual Engagement, and Psychological Space. This post focuses on Psychological Space and tips for enhancing your quality of life.
As our Healthy Holiday Series comes to a close, we hope that you learned or tried something new this holiday season – perhaps something you will carry with you into the new year.
The start of a new year is an opportune time to reflect and consider ways in which you can enhance your quality of life. Small, sustainable behavior change can have a meaningful impact on your health and longevity. Over the next few months, we will be sharing information about specific behaviors that can impact your longevity, as well as strategies to turn those behaviors into habits. Here is a sneak peek:
In his book Atomic Habits, James Clear explains that behind every system of actions is a system of beliefs. Before we can sustainably change our actions (i.e., exercise, read, eat more vegetables), we must change our beliefs. To achieve a new goal or implement a new plan, you must first believe in your new identity. Why is this important?
“The more pride you have in a particular aspect of your identity, the more motivated you will be to maintain the habits associated with it,” Clear explains.
For example, if you’re proud of the scarves you knit, you’ll be more likely to spend hours knitting. This may not seem important at first because you are intrinsically motivated when you set a goal. But over time, when the motivation fades, the behaviors to reach that goal will only become habits if you changed your beliefs about your identity. Here are some examples:
The goal is not to read a book (the what), the goal is to become a reader (the who)
The goal is not to run a 5K, the goal is to become a runner
The goal is not to learn an instrument, the goal is to become a musician
So How Do You Change Your Identity?
1. Decide the type of person you want to be
2. Prove it to yourself with small wins
Rather than setting the goal to lose weight, set the goal to become a healthy person. Then begin incorporating small behaviors that a healthy person would perform. Would a healthy person make time for exercise? Or cook a healthy dinner? Your behaviors define your identity, and if you practice specific behaviors over time, they become habits. And as Clear explains, “Your habits shape your identity, and your identity shapes your habits.”
We encourage you to use our Four Capitals framework to guide your identity-based goals this year to help enhance your quality of life.
Additionally, if becoming a healthy, or healthier, person is on your list, don’t forget to check out this month’s Tufts Health & Nutrition Letter. You’ll find a list of small, evidence-based changes that will have a large impact on your health, such as fitting in fiber and incorporating leafy greens into meals.
Schultz Financial Group Inc. (SFG) is a wealth management firm located in Reno, NV. Our approach to wealth management is different from many other wealth managers, financial advisors, and financial planners. Our team of fee-only fiduciaries strives to help our clients build their wealth across four capitals: Financial Matters, Physical Well-being, Psychological Space, and Intellectual Engagement. We provide family office and wealth management services to clients located in Nevada, California, and other states. If you’d like more information, please check out our website or reach out to us via our contact page.
Schultz Financial Group, Inc. (“SFG”) which is a registered investment adviser, drafted this blog post for its website and for the use of its clients or potential clients. Any other distribution of this blog post is strictly prohibited. Registration as an investment adviser is not an endorsement by securities regulators and does not imply that SFG has attained a certain level of skill, training, or ability. While the content presented is believed to be factual and up to date, it is based on information obtained from a variety of sources. SFG believes this information is reliable, however, it has not necessarily been independently verified. SFG does not guarantee the complete accuracy of all data in this blog post, and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of SFG as of the date of publication and are subject to change. This blog post does not constitute personalized advice from SFG or its affiliated investment professionals, or a solicitation to execute specific securities transactions. SFG is not a law firm and does not intend for any content to be construed as legal advice. Readers should not use any of this content as the sole basis for any investment, financial planning, tax, legal or other decisions. Rather, SFG recommends that readers consult SFG and their other professional advisers (including their lawyers and accountants) and consider independent due diligence before implementing any of the options directly or indirectly referenced in this blog post. Past performance does not guarantee future results. All investment strategies have the potential for profit or loss, and different investments and types of investments involve varying degrees of risk. There can be no assurance that the future performance of any specific investment or investment strategy, including those undertaken or recommended by SFG, will be profitable or equal any historical performance level. Any index performance data directly or indirectly referenced in this blog post is based on data from the respective copyright holders, trademark holders, or publication/distribution right owners of each index. The indexes do not reflect the deduction of transaction fees, custodial charges, or management fees, which would decrease historical performance results. Indexes are unmanaged, and investors cannot invest directly in an index. Additional information about SFG, including its Form ADV Part 2A describing its services, fees, and applicable conflicts of interest and Form CRS is available upon request and at https://adviserinfo.sec.gov/firm/summary/108724.
Every family wants to have a culture that is loving, supportive and healthy, now add family wealth to the mix and it can complicate things. But having a shared purpose or vision is something all families can do. That’s why a Family Mission Statement is so important.
When asked to picture their longevity plan, many individuals and families picture themselves staying in their homes and aging in place. While this image is attainable, it may require accessibility modifications to the home in preparation for the effects of aging.
Volunteering is as nourishing as a leftover turkey sandwich but without the calories. It comes in many forms: donating time, money, goods and services. Many companies have made it part of their corporate responsibility as acts of good will towards the communities they reside. If you have the desire and passion to help others, then here are some ideas and helpful links including local Reno charities that SFG and/or employees of SFG have supported.