As the year winds down, I like to take a moment to pause, reflect, and plan ahead. Every December, I sit down with a simple booklet called the YearCompass, it’s designed to review the past year and set some goals for the next one. This thing has become a personal tradition of mine—an hour away from the noise, where I can sift through what worked, what didn’t, and what I want to focus on in the year to come. If you’re looking for a way to start 2025 with clarity and purpose, I recommend it. Is it a bit lame? Yep 100%. But its way less lame than saunas, cold plunges, or whatever wo woo the morning TV is promoting at the moment so give it a go!
OK back to normal newsletter stuff….
“Why looking poor might actually be the secret to building lasting wealth.”
This podcast has done 5x our normal views sooo that’s a thing our marketing assistant Samantha is happy about! In this episode of the Wealthlab Podcast, Phil and I dive deep into why “keeping up with the Joneses” is one of the most dangerous financial traps, and how avoiding the pressure to “look rich” can actually put you on the path to financial freedom.
New Podcast Episode: The Hidden Power of Looking Poor
so aah…. well done to you Sam?
Anyway in it we discuss:
- The Psychology of Status Signaling: How trying to impress others with material possessions can derail your financial future.
- The Hedonic Treadmill: Why chasing more stuff just leads to more stress—and how to break free from the cycle.
- How the Wealthy Think About Money: Hint: it’s not about flashy cars or designer brands. It’s about investing wisely, staying disciplined, and focusing on long-term goals.
Listen to the episode here:
Beyond Holiday Stress: The Power of Financial Planning in December – Getting a tax deduction whilst looking like a champ?
- Tax-Efficient Giving: While you’re making your holiday donations or buying gifts for those in need, consider how charitable giving can benefit your tax situation. Some thoughtful planning could allow you to both give a thoughtful gift whilst also creating a tax deductible scenario.
- (Phil’s note) Please talk to your accountant before actually doing this, but some food for thought!
Wealthlab’s Holiday Schedule
With the holiday season around the corner, our office hours will be:
- Unchanged until the 19th of December. After that, we’ll be on a 2 week break and back on the 6th of January. We’ll still be checking emails and available for urgent matters in that space.
- Need to Catch Up? If you want to make sure everything is in order before the holidays hit, now’s a great time to schedule a quick catch-up. Book a session with us via this link.
I hope this post brings you some fresh insights into your financial future and helps you think about the holiday season from a new perspective. As always, we’re here to help if you need advice or want to chat about your financial goals before the new year kicks off.
