Weekend Reading: Applying the Practice of Mindfulness to Money Management

This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
Weekend reading mindfulness and money management Weekend reading mindfulness and money management
Weekend Reading

Being mindful in the present can be challenging for many of us, especially in the realm of retirement planning. In retrospect, you might wonder if you’ve saved enough, or if you should’ve done something differently. On the flip side, you might also worry of the future, and whether or not your accumulated assets will last your lifetime.


Immerse your “now” narrative: Imagining yourself in a future state and considering the scenarios which could play out down the road is key to increasing your chances of a successful retirement; however, as the experts state here, the tendency to do so can also “crowd out your ability to be alive right now.” In an ideal world, you are simultaneously mindful in the present and focused on the pursuit of future goals. How? Through this three-step process developed by Harvard professor, Arthur Brooks:

📌 1 – “Use learned optimism to dream up and set long-term goals”: Allow yourself to dream freely of your financial future, which in return, will provide clarity of where you’re going, inspiration to get there and an intention for you to set along the way.

📌 2 – “Now break those goals into sub-steps”: Create a path of mini milestones that will bring you to your retirement goals, which will initially begin with where you are now – the present.

📌 3 – “Live in day-tight compartments that set a goal for being fully alive over the next 24 hours” – Block off moments of your day dedicated to your dreams, your goals and ways to make the most of “now”, so you can live out the retirement you deserve.

Be present for the future: By knowing the smaller steps that need to be taken on a moment-to-moment basis, your vivid vision of the future will become the self-fulfilling prophecy that allows you to live in the moment today.