The Wish List

I’m of the mind that as you grow older, your Christmas list gets smaller because the things you really want for the holidays can't be bought.

Good Mornin’,

Ah, the holiday season is fast approaching…and with it, all the fun things that go along with the season, including the familiar Christmas lists.

This year, my kids seem to have one big focus: It has been?two years this week since we bid farewell to our beloved golden retriever, Layla Holiday, and all my daughter Dilynn can think about is finding a new puppy under the tree. Well, that particular ask is setting the stage for a difficult Christmas morning?this year….….

As we prepare for the season festivities, some of us may have a stock market "Santa Claus rally" on our list, or a few more interest rate cuts on that holiday wish list. And, even if you aren't compiling that list of wants for Santa, as the New Year dawns upon us with its relentless energy, we tend to reflect on our resolutions and jot down our aspirations, ambitions, and visions for the year ahead.

But here's the catch about these lists—be they for Santa, the New Year ahead, or even that notorious bucket list—they can lead to significant disappointments if we fail to realize our imaginings.

Most of us maintain some form of a bucket list, whether on a crumpled note or in the recesses of our minds, curating experiences and achievements we long to complete before the end of our days.

Naturally, our initial impulse when pondering life enhancement is to add things. A surf trip to Australia will surely boost happiness, right? A career leap, a new entrepreneurial venture—they all look promising until they don't. Research, however, reveals this list-based approach might backfire.

The problem with traditional wish lists.

While goals can infuse life with delightful purpose, achieving them usually fosters only momentary joy. Enter the "hedonic treadmill," a phenomenon where once-savored joys soon morph into cravings for more.

We can all understand the treadmill: maybe it’s that big new boat, earn that promotional accolade, or visit that exotic paradise. The moment we attain the vision and can check it off the list, our gaze shifts to even grander horizons.

But how do we escape this relentless treadmill?

Hmmmm…..great question…..

Years ago, I was reading The Atlantic and Happiness Guru Arthur C. Brooks was dissecting the essence of happiness and channeling insights from Thomas Aquinas and Buddha. Brooks insists on a compelling antidote: the "reverse bucket list."

What's a 'reverse bucket list'?

Brooks isn't the pioneer of the idea, yet his spin is enlightening. Annually, on his birthday, he audits his desires: money, power, pleasure, and recognition. Brutally honest, he identifies self-absorbed inclinations, most centred around professional applause and acclamation.

Following this inventory of inner wishes, he paints the canvas of his future happiness—envisioning a life steeped in values and contentment. The grand finale? Juxtaposing the two lists. Do those current ambitions catalyze the life he yearns for?

This isn't about obliterating dreams. Many lament the roads not travelled. Running that marathon might boost self-esteem as much as cardiovascular stamina. But understanding your "whys" can be pivotal—which is where the reverse bucket list illuminates.

If an aspiration reflects deep-seated values, let it linger. If it's to impress others or quench an insatiable craving for validation, relocate it to your reverse bucket list.

Curiously, when facing dilemmas, the default tendency is to add—new features, rules, or ingredients. Recent research, though, places subtraction on a pedestal.

Brooks argues that the same applies to our lives. Confronted by dissatisfaction's sting or time's fleeting nature, we aimlessly chase "more": wealth, power, and?accolades. Yet these rarely dispel our anxieties; rather than accumulating more, spare a moment to explore if less might fill the void.

Creating a "reverse bucket list" may just be the ticket to happiness—far beyond any Christmas list or goal list triumph.

As you reach for your pen this year to jot down your list of wants, goals, and dreams...?I'm sharing a few thoughts to reflect on.? As we head into the holidays, here are a few thoughts to think through as you revise your list...

Embrace the Joy of Missing Out

You don't have to be an investor to understand FOMO (the fear of missing out).

Flip the script, and you will find “The joy of missing out” - JOMO -----, which focuses on taking preference from what's truly valuable.

FOMO drives us to pursue others' definitions of success, burrowing discontent deeper within. In an article for Psychology Today, author Kristen Fuller, M.D., describes JOMO as the emotionally intelligent antidote to FOMO. JOMO is about being present and content with the decisions you make for your life. According to Fuller, "You do not need to compare your life to others, but instead, practice tuning out the background noise of the 'shoulds' and 'wants' and learn to let go of worrying whether you are doing something wrong."

In other words, make sure you're living your life in a way that feels authentic to you—not compared to others in your orbit. While FOMO is primarily driven by the need to feel included, JOMO allows you to follow your priorities. JOMO liberates. Deciding what brings joy and meaning enables you to say "no" to distractions and "yes" to activities and habits that nourish your soul. Even financial stressors, notorious for their pervasive impact, become more manageable when adopting JOMO, liberating you to embrace life's true milestones.

The Power of Small Actions

Reflecting on your list?and your life and ridding yourself of elements that no longer serve you can be a freedom exercise. Eradicating unsavoury rhythms can carve space for one's true self. In the quest for abundance and contentment, one requires a plan to be reborn through life's changing stages. The opportunity to reflect on your rhythms and align them with your vision can enable you to create a dynamic blueprint for your life that holds the secrets to enduring wealth, easily adjusted as life unfolds.

Ultra-endurance athlete and Author Rich Roll reminds us, "It happens small until it happens big. Reinvention occurs in the micro-actions you take every single day," highlighting an essential truth about personal growth and transformation. This idea underscores that significant change doesn't come from grand gestures or overnight success but through the small, consistent actions we take each day.

It's easy to overlook the small steps in a world obsessed with immediate gratification.

This year let's take a different approach to the lists...set small, achievable goals, embrace the process, and be sure to celebrate the small wins.?

The reverse list is a reinvention – create your list and your resolutions this year with care…and approach your aspirations with

simplicity,

consistency,

and patience.

In addition to looking forward to those lists, the Holiday season is also an opportune time to reflect on the year past.? It's been an eventful year across markets, and overall, we are pleased with the contributions that both stock and bond markets have made this year to our portfolios.? While we see reasons to be optimistic about the year ahead, we are mindful that investor sentiment has become more positive, and stock prices already reflect the expectation of higher growth next year. That has left markets more vulnerable should economic and earnings developments fall short of expectations. Heading into the New Year, we are watchful, cautious, and invested.

I’m grateful to have such wonderful relationships with our clients, and I consider it an absolute privilege to be alongside you on your growth path and help you realize everything on your wish list for the journey ahead.?

From all of us here at Henderson Family Wealth, we extend our warmest wishes to you and your loved ones this holiday season and look forward to supporting you in the years ahead.

Happy Holidays!

Be well and enjoy the moments.