- Organizational wellness (i.e., the household’s financial organization and ‘good financial management’ foundation, from recordkeeping of the household’s financial expenses, to the implementation of key foundational documents like Wills and Powers of Attorney);
- Physical wellness (what’s the point of having more money if you can’t use it to stay healthy, if only so you can be around longer to enjoy it, which helps to explain why health-related events are persistently the #1 fear in retirement);
- Cognitive wellness (where money makes it possible to spend more time with family and friends, engage in creative work, and have purpose and focus, not to mention being prepared for the hazards of cognitive decline in our later years);
- Behavioral wellness (being able to engage in the behaviors that maintain and support the rest, and avoid behavioral biases);
- Holistic wellness (an overall roll-up of the wellness functions, including being prepared to manage threats to the other parts of the pyramid).
Financial Wellness, based on this financial planning article, implies a holistic combination of health functions beyond just financial projections), it can be viewed as a series of Maslow’s-hierarchy-style needs to build upon, including:
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