Financial Wellness

Financial Wellness Components

“Financial Wellness” can mean something different to every person who hears the term. Is it because of the words themselves? Or because of how different each one of our situations is? At Kubhera, we recognize that your situation is unique to you, and that means your pursuit of “financial wellness” is just as unique.
At Kubhera, we believe that your financial plan is about much more than just the numbers. Our holistic approach looks to help you get the most fulfillment out of your future and to understanding how the decisions of yesterday and today transition into the opportunities and challenges of tomorrow. We try to go beyond the numbers to understand fundamentally what is most important to you.

Living Plan

This is where the notion of a “Living Plan” comes into play.  Until we know what kind of “wellness” we are trying to fund later in life, it is tough to even determine what “Financial Wellness” is for you.  As you look over the different “wellness” categories below, take a few moments to visualize and think, to imagine and develop a clearer understanding of what you are really aiming for.  How does your financial plan support each one of these “wellness” areas?
That is the true test of whether your plan is right for you.

Physical Wellness

“Physical Wellness” generally means overall health, but also includes mobility. Health becomes somewhat relative as we age, so “physical wellness” becomes sort of a moving target. Nagging issues will become chronic ones, and new ailments crop up. Think about how you may want to stay active, as activity becomes increasingly important. What sort of activities do you want to include?

Intellectual Wellness

Keeping your mind sharp to maintain your “Intellectual Wellness” takes some work as you age. As important as it is, though, it is worth the effort. Crossword and number puzzles may help, but you may want to consider attending classes or learning new skills. Do you want to travel and experience new places? Would you want to volunteer for local organizations that have you interacting with people every day?

Emotional Wellness

Aging in many ways can be seen as a process of loss. As we age, we lose treasured friends, pets, family members, and more. We can’t do some of the things we used to enjoy, and may lose contact with the people we used to do those activities with. “Emotional Wellness” provides the strength to face these challenges as they arise. At some point we may even have to face the challenges of losing our mental acuity, or our abilities to take care of ourselves and continue to age safely and independently. Adjusting to all this loss takes courage, as does asking for help when you need it.

Social Wellness

One of the most under-appreciated epidemics today is the loneliness of seniors in their elder years. Over time the loss of friends and loved ones, even if they just move to assisted living facilities, makes our social circles smaller. Even if you are healthy and able to get around, many of those around you may not be able to as easily. Focusing on “Social Wellness” can help you maintain a network of people with like interests. How can your current interests develop over time? Maybe join or start a foundation for a cause you are passionate about and get others involved with you?

Spiritual Wellness

With the maturity and wisdom you accumulate with age, there is often tendency to take a thoughtful retrospective look at the life you have lived, and the things you have done. The results may be mixed, when looking back and trying to connect all the various dots. Realize, though, that many societies throughout history have rightly revered the wisdom of elders, recognizing that everyone benefits from opportunities to unlock and share their insights. How might you want to share your experiences, or create a lasting legacy?

Environmental Wellness

Familiar surroundings serve as a buffer for many against the chaos and noise of age. There are few things as important to most people as they age than the comfort and safety of their own home. Being able to age safely and independently in a comfortable and familiar place is more than just a function of the mind. As you think of how you will age and what you will want to do at various points, also think about where you will age and what you can do to make sure you are comfortable. Do you want to be near family? Is there a community or place you feel most at home?
No amount of financial planning will allow you to achieve every “wellness” type discussed without really understanding how you want these areas to be in the future. However, by looking down the road with a “Living Plan” that incorporates your concerns, your preferences, your hopes and dreams, you can hone in on what’s really important to you. As you do that, you’ll gain a fuller understanding of what you’re really trying to plan for. We are more than happy to discuss these issues as we work with you to design your “Living Plan” and the financial framework that goes along with it.