As look ahead to 2025, many of us are eager to embrace change and growth. But why do we have to wait until the clock strikes midnight on January 1st to start?

Living your best life doesn’t have to mean a radical transformation or a grand resolution; sometimes, it’s about making simple, thoughtful choices every day that add up to a happier, healthier, and more fulfilling life.

Here are some approachable, practical ways to make 2025 a year of positive, sustainable change and there's no reason we can't start now!

1. Prioritize Mindfulness and GratitudePracticing mindfulness doesn’t have to mean hours of meditation. Start with a few minutes each morning to set your intentions, breathe deeply, and take in the present moment. Reflecting on what you’re grateful for, even just one thing a day, helps shift your mindset towards positivity.

2. Simplify Your SurroundingsCluttered space, cluttered mind: a cleaner, simpler environment promotes a more relaxed and focused state of mind. Declutter your home and workspace, focusing on quality over quantity. You don’t need to overhaul everything at once; start with one room or even a drawer at a time.

3. Move Your Body Every DayIf you know me, you know exercise is foundational to my wellness. But exercise doesn’t need to be an intense, hour-long session at the gym. A short daily walk, a quick yoga routine, or a dance break can all contribute to your physical and mental health.

4. Focus on Financial WellnessLiving your best life includes feeling secure about your finances. Financial wellness doesn’t require a complete overhaul or strict budgeting. Start by assessing your financial situation and setting small, achievable goals—whether it’s building an emergency fund, paying down debt, or saving for a future goal. Consider consulting a CERTIFIED FINANCIAL PLANNER professional who can help you establish a clear plan. Financial wellness is about building a sense of stability and peace of mind for the future.

6. Set Realistic Goals and Celebrate Small WinsSetting realistic, achievable goals and breaking them into small steps helps create a sense of progress without overwhelming you. That's what planning is all about, whether it's financial or otherwise. Make it a habit to celebrate small wins along the way. These victories build momentum and keep you motivated.

7. Embrace Lifelong LearningA commitment to learning—whether it’s picking up a new skill, hobby, or reading a book on a topic you’re interested in—keeps your mind engaged and curious. Continued learning enriches your life and keeps you adaptable in a rapidly changing world. Try to learn something new each month or set aside time each week to explore something you’re passionate about.

8. Get Enough Rest and RecoverySleep is foundational to physical and mental health, yet it’s often one of the first things we sacrifice. Try setting a regular sleep schedule and aim for 7-8 hours each night. Quality sleep enhances focus, reduces stress, and improves your mood. Beyond sleep, make time for relaxation throughout the day—whether that’s taking short breaks, practicing deep breathing, or stepping outside for fresh air.
​Wrapping Up: Start Small and Be PatientLiving your best life in 2025 doesn’t require drastic measures. Small, intentional changes are often the most sustainable and meaningful. Most importantly, focus on the journey and celebrate your progress along the way. Here’s to a year filled with mindfulness, simplicity, connection, and well-being - and not waiting for an arbitrary (or not-so-arbitrary) date to get started.

At the turn of the 20th century, banker J.P. Morgan was the most powerful man on Wall Street, perhaps the most powerful man in the world. Finance in those days was still the Wild West, largely unregulated and prone to boom and bust cycles much more violent than anything we see today. On several occasions, Morgan personally orchestrated emergency measures to stop bank runs that might have otherwise taken down the financial system — typically increasing his own wealth in the process.

Shortly after one of those near misses, the Panic of 1907, an old friend of Morgan’s from Chicago came for a visit. The friend was, in the phrase of Mark Skousen, from whom I got this story, a “perma bear” — no matter what the market did, his outcome was always pessimistic. As usual, he and Morgan got to talking about the markets. And as usual, Morgan’s friend saw poor omens in every market indicator, while Morgan saw only buying opportunities. Eventually they headed out for lunch, and, walking up Broadway, Morgan’s friend was admiring the towering skyscrapers that were starting to define the Manhattan skyline. Impressed, he acknowledged they had nothing like them in Chicago. Eventually, Morgan stopped and turned to his friend. “Funny thing about these skyscrapers,” he said, “not a single one was built by a bear!”

Six years before that conversation, Morgan had completed his purchase of Andrew Carnegie’s entire steel operation for the unheard-of sum of $480 million, hundreds of billions in today’s dollars. You don’t do that deal and amass that kind of wealth with a persistently negative outlook. Count the perma bears on the Forbes 400 list or the number of pessimists who run companies in the Fortune 500. You will find none.

Winners and other men and women of foresight and ambition do monumental things; pessimists watch them from the sidelines, making a list of all the reasons things won’t work out. The losers do get to win sometimes, too. But their victories tend to be short lived, as every calamity ultimately leads to opportunity when the dust clears.
 
Bullish

In 2009, deep in the depths of the Great Financial Crisis,  Sam Zell  spoke to an audience of real estate investors and developers. He told us that “kings would be made” in that moment. He had nothing left to sell anyone, having blown out of his massive real estate holdings just three years earlier in a time of optimism. Old Sam had seen too many of these cycles; he knew that you always bet on positive outcomes, and you bet heavily when you’re alone on that side of the trade. It doesn’t always work, but it mostly does
Pessimism is intellectually seductive, and the arguments always sound smarter, especially when they dovetail with our own worries. In the early years of the recovery from that crash, Sam’s advice (which Morgan would have echoed) was hard to follow. Even four years later, in 2013, when the stock market finally made it back over the 2007 high, optimism was scarce.

There were all sorts of reasons not to trust the recovery, and if you know anything about the media, then you know they had been relaying these reasons to us morning, noon, and night, repeatedly admonishing us lest we get too optimistic. Valuations were high, they said, while earnings would surely disappoint. Interest rates would rise. Various debt crises would ensue. Demographics were unfavorable. Obama’s healthcare plan surely meant the end of America. A looming government shutdown that fall would undoubtedly be the nail in the coffin.

And yet, somehow none of those things sank us. The year 2013 turned out to be the best for stocks since the halcyon days of the late 1990s. The Dow Jones Industrial Average finished the year up 26.5%, its best finish in 18 years. The S&P 500 had its best annual return in 16 years, capping out the year with an almost 30% return, ending December at a new record. The Nasdaq soared 38.2%, led by an emerging group of biotechnology and solar stocks that put on an extraordinary show for a new generation of growth stock enthusiasts.

A new car company came out of the woodwork, too, and its relatively unknown CEO, Elon Musk, appeared on the cover of Fortune magazine as “Businessperson of the Year” in December. Tesla’s stock was up over 350% in 2013, kicking down the door to a new era while clearing the cobwebs of the aughts decade crisis away. Tesla’s rise and Musk’s wholly unorthodox approach to building his business represented the start of something entirely different from what we were accustomed to. This brought out as many haters and doubters as it did fans and acolytes. What was clear to both sides, however, was that something was changing.

For every negative you could have cited about the environment of 2013, there were plenty of reasons for optimism, as stocks reached new heights and smashed through a wall of skepticism. You just had to work a little harder to find them. This was true then, and it is true now. It will always be true.

Why do I feel like history is once again repeating itself? Because there will ALWAYS be a reason not to invest. Every single week it seems there is a new problem emerging and another catastrophe DuJour – this is the constant in our life.
What else is constant? That despite the problems we have seen in years past – markets continue to go higher, we evolve as humans and life expectancy continues to climb higher as technology advances.

Bear Hunting
Today we are once again contending with all sorts of threats to our future well-being. Earnings expectations, we are told, must ultimately revert lower once companies run out of price hikes they can put forth, while the cost of employing people and running a business will surely increase. Profits are too high and must come down. Higher interest rates have put the real estate market on freeze and how would we not mention the recent U.S. Presidential election.

Talk to the average person on the street, and there’s almost nothing good worth saying. The polls are nearly unanimously negative.
“It’s bad and likely to get worse.”
What is bad? What is likely to get worse?
“I don’t know. It. Everything.”
OK, nice talking to you.

My point is that it’s easy to make lists of problems. Of everything that could go wrong or get worse. I could do it with my eyes closed, and so could you.

But the optimists are eventually proven right. Not every day, but always and eventually. Indisputably. It just takes a while to be able to see it play out. Even if you don’t believe me, make your investment in the future anyway, just in case I end up being right . Plant your seed regardless. If you end up being right in your pessimism many years from now, we will all have bigger problems than what our investments are worth. Being optimistic all the time is difficult. But having any other disposition as a default setting makes little sense when you’re investing for a future far out in front of us.

Of the many ways we can choose to live, I choose to live with optimism as my default setting.

Let's talk about something we all think about from time to time: those "what ifs" in life. As a financial advisor who's had the privilege of helping many clients transition into retirement over the past decade, I've heard a lot about what they wish they had done differently in their careers. The same can be said for their regrets about retirement.

Those of us who are in the career-building phase of life might be dreaming of the perfect retirement; but what if we could access the wisdom of those who came before us to avoid some of their common regrets? On the other hand, if you're considering retiring in the next five years, I want you to be able to steer clear of the most common retirement regrets I've encountered in conversation with clients who have been retired for many years. By learning from these real-life experiences, it's my hope that we can all make smarter decisions and aim for a life journey that's truly fulfilling.

First up, career regrets of retirees:

Not Pursuing Passion Projects: Many clients tell me they regret not following their passions or taking risks to pursue more fulfilling careers. The fear of financial instability or the comfort of a secure job often kept them from chasing their dreams.

Overworking at the Expense of Personal Life: A significant regret among retirees I talk to is having spent too much time working and not enough time with family and friends. The pressure to climb the career ladder often led to neglected relationships and missed life events.

Not Enjoying Life in Pursuit of Saving Money: If you know me, you know this is a huge concern of mine and one that I work hard to help clients feel peace of mind about their financial plan so they can avoid this regret. Clients often tell me they regret not investing more in experiencing life along the way in favour of saving money for retirement. It's common for people to have difficulty making the switch from saving to spending, especially when they haven't been able to enjoy the fruits of their labour along the way.

Failing to Continue Learning and Growing or Staying in Unfulfilling Jobs: Some retirees tell me they wish they had pursued further education or skill development. Sticking with a job that didn't bring joy or satisfaction is a common lament. Many wish they had sought out more meaningful work rather than staying in a role out of convenience or fear of change.

Do any of these feel familiar to you? The key is to be proactive, thoughtful, and willing to make changes that align with your long-term happiness and well-being.

Now, let's compare those regrets with common retirement regrets I hear from clients:

Not Enjoying Life More During the Healthy Years: I often have clients who look back and wish they had taken more time to enjoy life while they were still healthy and active. They regret not traveling more, trying new experiences, and making the most of their physical capabilities. Prioritizing joy and adventure when you can is crucial, as good health isn't guaranteed forever.

Underestimating Healthcare Costs and Neglecting Health and Wellness: Many retirees regret not planning sufficiently for healthcare expenses. Medical costs can be substantial and unexpected, often exceeding what was initially anticipated, which is something I help clients plan for and stay ahead of. Failing to maintain a healthy lifestyle during their working years is a regret to be mindful of. Poor health can limit mobility, independence, and overall quality of life in retirement.

Lack of Planning for Purpose and Engagement: Some retirees tell me they find themselves feeling aimless and unfulfilled because they did not plan for how they would spend their time. Having hobbies, volunteer work, or other engaging activities is crucial for a satisfying retirement.

Not Downsizing or Adjusting Living Arrangements Sooner: I've had clients who regret not moving to more suitable living arrangements earlier. Whether it's downsizing to reduce maintenance and costs or moving to a community with better amenities, timely adjustments can enhance your retirement and comfort.

I've seen firsthand how understanding these common regrets can really open up opportunities for making better choices in both your career and retirement planning. It's like having a roadmap from those who've been there and done that, helping you avoid some of the same pitfalls.

​Here are some actionable tips to takeaway from this conversation to steer clear of these regrets and set yourself up for a more satisfying journey:

Pursue Passion Projects: Whether it's a side hustle, a hobby, or a complete career change, integrating your passions into your work life can lead to greater satisfaction.

Balance Work and Personal Life and Seek Meaningful Work: Prioritize relationships and personal time. Set boundaries to ensure you're not sacrificing your personal life for career advancement. Don't be afraid to explore new career opportunities that align with your values and interests.
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Plan Financially and Health-Wise for Retirement: Start saving early and plan for potential healthcare costs. Maintain a healthy lifestyle to ensure a vibrant and active retirement.

Engage in Purposeful Activities: Remember to enjoy life now while you are healthy and able to pursue experiences that you value.

​Remember, it's never too late to make positive changes. Whether you're early in your career, nearing retirement, or already enjoying your golden years, these insights can help you live a more balanced, happy, and rich life.

​Personal finance was my first love in the money world. I was a saver before I ever knew what investing even was. Yet my relationship with personal finance has evolved as I’ve aged and I've changed my habits as my views expanded.

Many of the personal finance rules written in stone will always apply and none of these should surprise you; live below your means, pay yourself first, stay out of credit card debt, save for emergencies.

However, after more than a decade as a Certified Financial Planner there are other personal finance commandments I don’t completely agree with anymore and I wonder if some of these might raise eyebrows:

Belief #1: Early Retirement Isn't for Everyone
While the idea of retiring in your 40s or 50s sounds appealing, it's not a one-size-fits-all solution. Early retirement requires extreme savings and frugality, often at the cost of enjoying your prime years. For many, the sacrifices needed to retire early might outweigh the benefits.

Instead of fixating on early retirement, consider aiming for financial flexibility. Build a career you enjoy, which allows you to work on your own terms. Embrace lifelong learning and adaptability. By focusing on financial freedom rather than an arbitrary retirement age, you can create a more fulfilling and less stressful life.

Belief #2: Debt Can Be a Useful Tool
The conventional wisdom is to avoid debt at all costs. While high-interest debt like credit cards can be detrimental, not all debt is bad. Leveraging debt can be a strategic move in building wealth. For example, taking on a mortgage to buy property can be a sound investment, if the value of the property makes sense with current interest rates. Similarly, using student loans to invest in your education can lead to higher earning potential.

The key is to differentiate between good and bad debt. Good debt, used wisely, can open doors to opportunities and financial growth. Bad debt, on the other hand, should be minimized and managed carefully. Understanding this distinction is crucial for making informed financial decisions.

Belief #3: It's Okay to Spend on What You Love
Frugality is often preached as a cornerstone of good financial health. I subscribe to living below your means. How else are you going to build wealth if you don’t spend less than you earn and save the difference? But most personal finance experts take this to the extreme. Life is meant to be enjoyed, and sometimes that means spending money on things that bring you joy. It's important to strike a balance between saving for the future and living in the present.

Don’t get me wrong — I’m still not a fan of wasting money. There are certain things I refuse to spend a lot of money on — the newest tech gadgets, luxury clothing, high-end furniture, etc. These things don't bring me joy. But there is stuff I enjoy spending money on. If you know me, you know experiences always offer a bigger bang for my buck. Brittany and I love to travel and this is a key part of OUR Rich Life. We cut back in other areas to spend focus our spending here, and that is okay, especially for this stage in our life together. 

By all means, save diligently and invest wisely. But don't deprive yourself of experiences or possessions that enrich your life. The key is mindful spending—prioritize what truly matters to you and cut back on expenses that don't. This approach can lead to a more satisfying and balanced life without the guilt of spending.

Belief #4: Personal Finance Is Personal
The most sacrilegious belief of all is that personal finance is, indeed, personal. What works for one person might not work for another. Your financial strategy should align with your values, goals, and circumstances. Giving clients peace of mind to enjoy their version of a Rich Life is always my goal. Don't be afraid to deviate from conventional wisdom if it doesn't suit your unique situation. After seeing clients pass away with millions of dollars in their accounts, I think about all the experiences they didn’t get to spend with their families at the expense of saving money. 

Seek advice, but ultimately, trust your judgment and tailor your financial plan to your life. Flexibility and adaptability are key to managing your finances effectively.

Belief #5: Moving the goalpost isn't always the goal.
The Wall Street Journal recently shared research on how much money people need to make to be happy: In the survey, most people said it would take a pretty significant pay bump to deliver contentment. The respondents, who had a median salary of $65,000 a year, said a median of $95,000 would make them happy and less stressed. The highest earners, with a median income of $250,000, gave a median response of $350,000.

Does this mean contentment is basically impossible to find? Regardless of how much you make, will you always want more? The goalposts just keep moving if we're not living in the present and and focusing on our values and circumstances. Spending on what brings us joy NOW and remembering that personal finance is PERSONAL are both antidotes to the discontent that can come from following the norm and checking the boxes we've been told to check.

Challenging conventional wisdom in personal finance isn't about dismissing sound advice—it's about recognizing that financial strategies should be as diverse as the people who use them. By questioning standard advice and embracing a more personalized approach, you can create a financial plan that truly works for you.

Remember, the goal is not just to save for retirement but to build a life that's financially secure and fulfilling at every stage, otherwise known as a Rich Life.

​I saw a chart this week from Bank of America that more or less sums up my entire investment philosophy:

In the long run, stock prices go up.
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I view the stock market as a way to invest in innovation, profits, progress and people waking up in the morning looking to better their current situation. While I love the fact that this chart illustrates my long-term philosophy it’s a bit misleading. Yes, the stock market goes up over the long run but it can also get crushed in the short run. That can be difficult to see on a log chart with 200 years of data. The Great Depression, 1987 crash and Great Financial Crisis look like minor blips on this chart. And while every crash eventually turns into a blip on a long-term chart, they don’t feel like it in the moment. 

Looking at this chart got me thinking about what other visuals I would use to help explain the stock market in greater detail, so I found a few more.
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You can’t look at an up-and-to-the-right chart of the stock market without taking into account the drawdowns along the way:

Did your New Year's resolutions include a plan to start a diet? Mine never does because ​I’m skeptical of any diet or exercise craze because they all end up more or less becoming fads.

This is why I could never get behind the idea of buying stock in Peloton, even though I know many happy users of their product. Sure, some people will buy it and use it regularly. Others will buy it, use it and then stop using it. Some will buy it and never use it. Regardless, there is always another piece of equipment or exercise routine that comes along.

​When it comes to diets there are plenty of them that can work. The problem is not necessarily the diets themselves but the behavior required to stick with them.
One study estimates some 95% of all people who lose weight on a diet gain it all back eventually.

It’s for these reasons I didn’t pay much attention to the Ozempic and other GLP-1 studies as those results began trickling in. But the more I learned about it the harder it became to ignore. Not only were people reporting weight loss of around 15-20% of their body weight but they weren’t craving as many salty or sugary foods. People feel fuller on the drugs. It lowers heart disease. I went from being skeptical to thinking this was some sort of miracle drug. I’m sure there are some side effects and other issues that take away from the miracle label but the potential ramifications here are enormous.

If the price comes down and a decent percentage of the population begins taking these drugs there is going to be an impact on the agriculture industry, fast food, packaged food companies, the healthcare industry and probably a dozen other industries I can’t even think of right now. I’m not smart enough to sift through all of the potential winners and losers if this happens but this could be real a game-changer.

Reading about these drugs and the impact they are having got me thinking about how this relates to your finances.

There are no miracle drugs that can help you make better financial decisions.

You can’t take medicine to save you from FOMO during a bubble.

A doctor can’t write you a prescription that will make you feel less envious of the Joneses.

You can’t get wrapped in a full body cast that will prevent you from panic-selling your stocks during a bear market.

No amount of physical therapy will take the pain away when you go into debt.

There aren’t any surgeries to remove the feelings of greed and fear you get from watching your portfolio move up and down during the different market cycles.

You get the point.

The good news is there are differences between physical health and financial health. I know diet/exercise makes for a good personal finance analogy but it’s much easier to change financial behavior than it is to change your habits when it comes to eating and exercise. 
You can’t automate your physical health. Sure, you can plan out your meals and when you’ll go to the gym but you still have to follow through with it. But you can automate the majority of your financial decisions. Bills can be paid automatically. You can pay off your credit card balance every month without ever thinking about it by setting up auto-pay. Every time you get a paycheck, you can have funds automatically directed to different accounts for saving and investing — your RRSP, TFSA, your children’s RESP, etc.
And once the money hits those accounts it can be invested automatically exactly as we desired – by a team of professional money managers that purely focuses on selecting the best quality companies. Portfolios can be rebalanced automatically – taking the emotions right out of the equation.

Maybe someone will create a drug that turns us all into robots in the future but for now, there is no way to take the emotions out of your finances. Your emotions aren’t good or bad, right or wrong. They just are. But you can make good decisions ahead of time so you’re not forced to deal with those emotions at times when they can ruin your financial plan with a boneheaded mistake.

I spend very little time on my own personal finances because 95% of it is set on auto-pilot. Bills are paid. Contributions are made. Investments are bought or sold. My portfolio gets rebalanced. I take the emotions out of investing. I keep on buying – every….single….month….no matter what.
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I still have to make course corrections along the way and check in on occasion to make sure everything still makes sense. But technology makes it easier than ever to take the worst parts of yourself out of the equation when it comes to financial decision-making.
The only side effects of automating good financial decisions ahead of time are rising portfolio balances, higher credit scores, increased savings balances, and more time to spend on the things you actually care about. Sounds better than a New Year's resolution, if you ask me...