Keeping An Optimistic Mindset Contributes To Achieving Sound Financial Wellness

Today we look at a topic that really resonates with our culture at Endorphin – Optimism. We love to see the glass as half full, every cloud having a silver lining and of course living above the line.

 

 

Have you ever joined the dots between positive thinking and your financial habits?

Optimism doesn’t translate as ignoring the real world. Rather, optimism is defined as the expectation of good things yet to happen coupled with the belief that behavior matters, especially during times of challenging turbulence. A rational optimist can see reality for what it is, while still believing good financial habits can improve their financial position.

These days we define our health and wellness quite broadly. We’ve come to embrace mental health, social engagement and financial well-being in our definitions of good health.

 

Optimism Delivers Superior Financial Benefits

A recent study Mind Over Money in the U.S. by Frost Bank, in conjunction with FleishmanHillard connected the link between financial well-being and an optimistic mindset.

If you doubted the financial benefits of positive thinking, the study found people who classify themselves as optimists enjoy 62 percent fewer days of financial stress per year compared to pessimists.

Optimism was also associated with an increase in a respondent’s financial well-being. Greater optimism, after controlling for skills, income, wealth and other demographic factors, related to superior financial habits.

 

A Catalyst For Improved Financial Health

Believing our challenges in life are temporary rather than permanent enables us to be inspired to adopt meaningful financial habits that contribute to financial improvement.

Optimism can act as a catalyst for improved physical, emotional and financial health. The study found respondents wanted more optimism in their lives.

One potential remedy to the stress endemic to our busy lifestyles is nurturing an optimistic perspective. When it comes to financial strategy, the study shows optimists are better placed to adopt a savvy approach and enjoy the financial benefits of their investment strategy.

 

Optimism Enhances Financial Agility

The research indicates optimists were substantially likely to enjoy superior financial wellbeing compared to pessimists. Moreover, optimists were more likely to adopt better financial habits in managing their money. Roughly 90 percent of optimists in the study saved for a significant purchase, be it a car, a house or an overseas trip compared to pessimists at just 70 percent.

Some 66 percent of optimists had an emergency fund, compared to fewer than half the pessimists. Moreover, optimists appear to be more active in seeking out and following counsel from a trusted source.

 

Optimism Fuels Your Career

Optimism also appears to be a sage investment beyond personal finance. Optimists seem to do better in their careers than pessimists.

These Work Optimists are 40 percent more likely to receive a promotion in the coming twelve months, five times less likely to experience burnout than pessimists and up to six times more predisposed to displaying high levels of engagement in their workplace.

 

Final Observation

Optimism is a lucrative investment for professionals. Positive thinking together with sound financial habits can unleash your inner optimism and help you take back those 145 stress-free days each year lost to pessimism while fuelling your sense of happiness and work success.

The team at Endorphin Wealth Management is happy to assist with helping you achieve a positive outlook on your financial situation from a financial planning perspective.

For an obligation free discussion, call us on 03 9190 8964, or schedule a meeting at endorphinwealth.com.au/contact/

 

Guest Blog: Melbourne’s Vacancy Rates For Investment Properties

For this week, we’d like to welcome a special guest blogger – Lee Buoy from Melbourne Real Estate as she shares her insights on Melbourne’s Vacancy Rates For Investment Properties.

Melbourne Real Estate strives to continually improve and develop our services. Reaching out to our landlords and getting to know their greatest concerns and needs regarding their investment property is one of the most valuable ways for us to gain feedback.

You can see the most common responses to 3 key questions in our recent landlord survey in the charts below:

·         What do you value most in a property manager?

·         What are your fears, frustrations, and anxieties (if any) in relation to your investment property?

·         What are your wants, needs, and hopes (if any) in relation to your investment property?

Ranked as a top concern for landlords is VACANCY, closely followed by the want for their investment property to have NO VACANCY.

This feedback is more than just a reflection of the concerns experienced by Melbourne Real Estate’s clients, it is a sentiment felt by almost anyone who owns an investment property.

At Melbourne Real Estate, our vacancy rates have outperformed the market on a consistent basis. Whilst I can’t predict the future, I can assure you we have no plans on slowing down.

The Real Estate Institute of Victoria (REIV) has released their latest stats, suggesting vacancy rate for inner city Melbourne have fluctuated between 1.8% – 2.1% for the past year (2019). Throughout 2019, MRE has maintained an average vacancy rate of 0.82%, never exceeding 1.09%. Considering the number of properties we manage (3521), we’re pretty stoked with these figures!

Supporting article relating to vacancy rates from domain.com.au can be found here: https://www.domain.com.au/advice/domain-rental-vacancy-rate-january-2019-799465/

 

Comprehensive analytics and research

Endorphin Wealth Management invests a great deal of time and effort researching the best investment strategies for our clients. We have developed a number of systems to manage and track the marketplace.

The investment landscape always evolves and it is more important than ever to consider your investments and carefully. We pride ourselves on being experts in researching opportunities, investments, and strategies that fit in with your goals. We want our clients to get on with enjoying their life rather than worrying about money.

For an obligation-free conversation about your financial future, please contact us on 03 9190 8964 or at advice@endorphinwealth.com.au

Endorphin Wealth welcomes Husnia Noori

We’re very excited to announce that Endorphin Wealth has expanded the team in Melbourne – welcoming Husnia Noori.

Husnia has completed her Bachelor of Commerce (Financial Planning & Finance) and has brought a great energy to the team in her short time with us.

She has commenced in our Support Team and is looking forward to developing her skill set and working with her own clients in the near future.

 

Husnia Noori: husnia@endorphinwealth.com.au

LinkedIn:        https://www.linkedin.com/in/husnia-noori-8b2756b8/

2020 – Client Referral Prize Draw

We are excited to share that we’re re-launching our referral prize draw promotion for our existing clients to reward them for referring friends and family members. We’d love the opportunity to assist the people they know to reach their own financial goals!

Leeuwin Estate Art Series – 2016 Sauvignon Blanc, 2016 Riesling, 2012 Sauvignon Blanc Semillon, 2014 Chardonnay, 2014 Shiraz and 2013 Cabernet Sauvignon

Entering the draw is easy, simply refer your friend or family member to have an obligation-free appointment with us and you’ll be entered into the draw to win a combination of 6 beautiful Leeuwin Estate ‘Art Series’ wines valued at $300.00.

The promotion runs from Saturday 02/01/2020 until 12 pm on Sunday 31/05/2020. There is no limit to the number of entries a client may refer. The draw will be held on Monday 01/06/2020 at 2pm and we will notify the winner shortly afterwards.

Promotion Update

We added a second promotional period for our Client Referral Draw Prize which runs from Monday 01/06/2020  until 12 pm on Monday 31/08/2020. The draw will be held on Tuesday 01/09/2020 at 2pm and we will notify the winner shortly afterwards. Clients may refer as many as they can and there is no limit to the number of entries.

Comprehensive analytics and research

We invest a great deal of time and effort researching the best tax effective investment strategies for our clients. We have developed a number of systems to manage and track the marketplace.

The investment landscape always evolves and it is more important than ever to consider your investments and superannuation funds carefully. We pride ourselves on being experts in researching opportunities, investments and strategies that fit in with your retirement goals. We want, our clients to get on with enjoying their life rather than worrying about money.

For an obligation free conversation about your financial future, please contact us on 03 9190 8964 or at advice@endorphinwealth.com.au

This information is general in nature and does not take your personal situation into account.

Contact Us for quality financial advice so you can feel good about your future.