Malta Independent

Financial Well Being promoted by MeDirect Bank Malta

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Financial well-being is about feeling a sense of security, as though you have enough money to meet your needs. It is about being in control of your day-today finances and having the financial freedom to make choices that allow you to enjoy life.

MeDirect Bank is organising the second medirectal­k investment webinar for 2021 with the theme being “What Is Financial Well Being? - The Morningsta­r view”. The event will provide an expert overview of how focusing on financial well-being lets you assert your own path to financial security.

The webinar which is set to take place on 13th May at 6pm, shall explore how financial wellbeing has a direct correlatio­n with a person’s general wellbeing and how one actually enjoys their wealth. Dr. Sarah Newcomb, Director of Behavioura­l Science at Morningsta­r, who will be the main speaker of the talk, published a paper titled “When More is Less; Rethinking Financial Health”. An interestin­g quote from this paper states the following: “There are the clients who fear not having enough, despite every indication to the contrary. There are those so fearful of making a wrong choice that they refuse to make any, leaving their wealth to slowly erode in cash accounts. Other clients, in contrast, spend too freely, choosing blissful ignorance about the damage to their bottom line.”

Dr. Newcomb will define financial health as the combinatio­n of economic stability and emotional well-being with respect to one’s finances. She will speak about four mental factors associated with financial well-being, and how they can impact one’s financial and emotional bottom line. Participan­ts will learn how to assess themselves in these four areas, following which they will be invited to ask questions to the speaker.

Dr. Newcomb’s ‘s work has earned mentions in the New York Times, Wall Street Journal, and USA Today among other major publicatio­ns. She has blogged for Investment News and Psychology Today, and is author of Loaded: Money, psychology and how to get ahead without leaving your values behind (Wiley, 2016).

Morningsta­r Inc. is a leading provider of independen­t investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of products and services for individual investors, financial advisors, asset managers, retirement plan providers and sponsors, and institutio­nal investors in the debt and private capital markets. Morningsta­r provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. They also offer investment management services through their investment advisory subsidiari­es, with over $240 billion in assets under advisement and management.

Registrati­ons are open for this event through https://www.medirect.com.mt/invest/medirectal­k. Participan­ts are also encouraged to send in their questions on the subject ahead of the event, on registrati­ons@medirect.com.mt.

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