Look for Happiness, Opportunities in the Midst of Adversity
Paul Fain, CFP®
“Happy New Year!” many people exult, but maybe you aren’t feeling it. There is a lot of uncertainty surrounding us as we head into the new year: inflation, war, investment volatility, a possible recession looming, waves of viruses. Many families are confronting life-threatening illnesses or the loss of a loved one.
Sometimes, in the midst of adversity, we simply have to look for happiness in our circumstances. For instance, my sweet mother-in-law is struggling in the final chapter of her life, but my new grandson is filling our hearts with warmth and love.
Rising interest rates are making it more expensive to buy a home, but savers are happy about higher rates on interest-bearing accounts.
Most investments were in the red in 2022, but the new year gives us a fresh perspective and a chance to review and reset. Perhaps you need to sell a losing investment for a tax write-off against other gains or income. Maybe you need to replace short-term thinking with long-term strategy.
You may be frustrated or even worried about your spending needs and the rising cost of living. Now is the perfect time to examine your budgeting opportunities and to take control of your finances in 2023.
For a moment (or longer), let’s take our eyes off division and anger and do our part to make the world a better place. Volunteer or donate to a charity close to your heart. For a retiree, if you don’t need all of your next required minimum distribution from a retirement account, consider a qualified charitable distribution (see your tax adviser).
Bring happiness to someone else. A friend of mine is wrestling with multiple health issues, any of which could take his life. Still, every time I see him, I walk away uplifted. He is always filled with hope, gratitude and joy.
The lesson for me is this: I find more happiness when I focus my attention on faith, family and responsible financial planning. Storms will come in life, but as I write this column, the sun is shining bright and I am watching a squirrel scurrying up and down a tree to build a winter-proof nest. Life is good. Happy holidays and have a blessed new year.
This article originally appeared in the Knoxville News Sentinel online December 30, 2022.
