The Holiday season can be a wonderful time to reflect on our blessings.
Each of us has much to be thankful for... some more than others, and therein lies the problem.
"Keeping up with the Jones's" has always been a favorite national pastime. Our brave new world of social media exacerbates the issue with its air-brushed images of perfect vacations, overachieving offspring, and problem-free lives.
As pointed out in Psychology Today (May 2022) "comparing oneself to others has had evolutionary value, but this primal instinct can be harmful in today's social media context."
Our financial well-being is not immune from the ill-effects of keeping up, but it's not all bad news.
Keeping up with Jones's can have an upside. Just like playing tennis with an opponent with superior skills can up your game, having a healthy amount of ambition can help us focus on achieving our goals.
The trick is choosing which Jones's to keep up with and recognizing the value of what we've already achieved.
Our objective is to help you achieve your goals. While the goalposts may move over time, understanding what you value most, and prioritizing those objectives will keep us on track.
Being thankful for what we have, and reasonable in how we compare ourselves plays a significant role in our financial well-being.
Another important aspect of financial well-being is knowing that you are on the right path, having clear well-defined goals and identifiable benchmarks and guideposts.