New Month, New Mood.
Fall is a time of change. And some, like Lulu, aren’t here for it. This adorable, empathetic child cries for her leaf friends that she will never know.
But don’t worry, Lulu – Fall is not about death – it’s about life.
The leaves change color and fall as the energy of the tree recedes into the roots. The tree protects itself against the winter to come, so it can blossom anew in the Spring.
We will all mourn loss and death in our lives, like Lulu, but from darkness, new life emerges.
When things feel bleak, it’s okay to preserve and cultivate your energy, to fortify yourself to weather the cold, and nourish your foundation so you can emerge anew.
Financial Wellness Workout: Employer Benefits Enrollment
Enrollment season is upon us (yep, that time of the year when you can choose or modify your employer benefits). While this time of the year always used to stress me out, I’m going to help you break this process down so you can make better, more informed, and less stressful decisions.
Assess your options: Explore your options thoroughly. Understand all your employer’s offerings – from health insurance to retirement plans and life insurance. If you’re satisfied with your current choices, re-enroll without hesitation. If not, take your time to weigh the alternatives.
Update coverage based on your needs: Tailor your coverage to your current needs. Life changes, and so should your benefits. Whether it’s upcoming surgery or evolving family dynamics, adjust your choices thoughtfully. Give yourself the time and space to make decisions that benefit your future self.
Watch out for hidden high deductible plans: Some employers may offer high deductible health plans (HDHPs) that have lower premiums but higher out-of-pocket costs. While HDHPs can be a good option for certain individuals, they may not suit everyone’s needs. Assess your health and financial situation to determine if a high deductible plan is the right choice for you. Consider factors like your anticipated medical expenses, savings, and risk tolerance. Sometimes, a lower deductible plan may be a better fit, especially if you have ongoing medical needs or concerns.
Ask for help: If you find the enrollment process overwhelming, don’t hesitate to seek guidance from your employer’s HR department. They can provide valuable insights and help you make informed choices that suit your circumstances.
Behavioral Science Hack: Hacking Goals
Does achieving financial wellness seem too difficult?
Research shows that setting specific and difficult goals consistently lead to better performance than just urging yourself to do your best (Locke & Latham, 1990). A specific goal might look like, “I will put $100 each month into my Aura investment account on the first day of every month.”
With Aura, you can set up auto-deposits to make these “specific and difficult” goals automatic each month. #PayYourselfFirst
↗️ Subscriptions. Netflix ad-supported tier has 15 million subscribers, triple the previous count.
↗️ Stock Market. Stocks rise to start November ahead of Fed decision on interest rates.
↘️ Wildfires. Southern California wildfire forces 4,000 residences to evacuate after the small fire grew to more than 2,200 acres.
↘️ Social Security. More than 1 million are waiting for Social Security to process initial disability claims.
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This material has been distributed for informational and educational purposes only, represents an assessment of the market environment as of the date of publication, is subject to change without notice, and is not intended as investment, legal, accounting, or tax advice or opinion. Aura assumes no obligation to provide notifications of changes in any factors that could affect the information provided. This information should not be relied upon by the reader as research or investment advice regarding any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective. This information is not intended as a recommendation to invest in any particular asset class or strategy or as a promise of future performance. There is no guarantee that any investment strategy will work under all market conditions or is suitable for all investors. Before investing, please carefully consider your willingness to take on risk and your financial ability to afford investment losses when deciding how much individual security exposure to have in your investment portfolio. Past performance does not guarantee future results. There is a potential for loss as well as gain in investing. Aura does not represent in any manner that the circumstances described herein will result in any particular outcome.
Aura provides some of the information in this newsletter under its Financial Counseling Service. The Financial Counseling Service is impersonal in nature, which means that the advice is not tailored to a Client’s, or group of Clients, individual needs and does not purport to meet the objectives or needs of specific Clients or accounts. Consequently, Aura does not rely on Suitability Questionnaire information that the Client inputs into the Platform to provide the Financial Counseling Service. The Financial Counseling Service is available to all Aura Clients. Consult with an accountant or financial advisor to find out if you’re optimizing legal tax optimization strategies