3 Strategies to Beat Financial Stress in 2023

Take these three steps to protect yourself against financial stress... [Shield] AN OXFORD CLUB PUBLICATION [Wealthy Retirement]( [View in browser]( SPONSORED [Get Marc's Top 5 Dividend Stocks (FREE PICKS)]( World-renowned income expert Marc Lichtenfeld just released his [Ultimate Dividend Package](. Inside, you'll find his TOP FIVE dividend stocks right now. And today, he's giving you this package... completely free of charge! To get your FREE dividend recommendations, [click here now](. [FINANCIAL LITERACY]( [3 Strategies to Beat Financial Stress in 2023]( [Marc Lichtenfeld, Chief Income Strategist, The Oxford Club]( [Marc Lichtenfeld]( Some people think that in order to be rich, you have to be smart. But that may not tell the whole story. In fact, being rich may make you smart. Or more likely, being poor dumbs you down. At a conference I attended, neuroscientist Dr. Emily Heath showed how people under financial stress experience a decline of 14 IQ points. That is worse than if you took an IQ test after not having slept for 24 hours. And we know that driving with no sleep can be even more dangerous than driving drunk. The difference is that usually after going on a bender, you sleep it off, feel cruddy for a few hours and are then back to normal. People under financial stress can't just drink a few glasses of Gatorade, pop a few ibuprofen and get relief. Stress also takes a physical toll, cutting lives short, causing pain and reducing sex drive. Let's face it: If you spend your day hiding from bill collectors, you're probably not feeling like your best self and are less apt to get your freak on. The same goes for your spouse. Money issues are one of the leading causes of divorce. There are many ways to give yourself some financial breathing room and start reducing your stress. Let's take a look at some simple ones. Forced Savings If you're working and your company offers a 401(k), take it. I know, I know - you can't afford to give up 5% to 10% of your paycheck when you have bills to pay right now. But it's worth the effort. First of all, contributing to a 401(k) will immediately save you money in taxes. Let's say that you're single and your taxable income is $50,000 per year. You're in the 22% tax bracket, so you'll pay $11,000 in taxes. If you contribute 6% of your salary to a 401(k), you'll reduce your taxable income by $3,000, saving $660 in taxes. Furthermore, many companies offer a 50% match up to 6%, so you could receive an additional $1,500 contribution from your employer. And most people are still able to make ends meet with fewer take-home dollars. Acorns offers another way to force yourself to save. Once you sign up and spend money using the Acorns card, the amount is rounded up and the spare change is saved in an investment account. So if you buy lunch for $6.25, the purchase is rounded up to $7 and the $0.75 is put into your account. That can add up quickly. You can then invest the funds in various portfolios made up of exchange-traded funds (ETFs). SPONSORED [Wall Street Legend Warns "Financial Reset" is Coming]( A historic event in 2023 could soon result in a run on the banks. [Get out of cash and into a new vehicle 50 years in the making.]( Keep Track of What You Spend People love quantifying their lives. They have apps to find out how many steps they took during the day. Some even get data on their sleep. But when it comes to money and spending, it's anyone's guess. I'm not the guy who is going to tell you to skip the latte that you enjoy - but if you're under financial stress, I will tell you to at least track what you're spending so that you're armed with the information. Whether you choose to cut back on lattes is up to you. But you'll at least be making an informed decision. There are apps like Mint that track what you're spending your money on and how much you have remaining. Mint will alert you if your bank balance runs low so you don't bounce a check and incur overdraft fees, and it'll also notify you when your bills are due so you can avoid late fees. Another way to avoid fees is automatic bill payment. Most utility, credit card and other monthly bills can be set up to be paid automatically, which will prevent late fees. Of course, you need to make sure you have enough money in your bank account to cover the bills. But if you do, automatic bill payment is a nice way to stop worrying about whether you've paid the bills every month. Invest Lastly, make sure you're investing, even if just a little bit and whether it's through Acorns or a brokerage account. My preferred investment is Perpetual Dividend Raisers. These are stocks whose dividends increase every year. Investing in Perpetual Dividend Raisers serves two purposes... First, you'll receive more income each year, which will hopefully lessen financial stress over time. Second, investing will keep your brain active. Investing involves processing information, decision making and some basic math. Financial stress takes its toll on our relationships and our physical and mental health. Relieving that stress should be a priority - and we could all use an extra 14 IQ points. Good investing, Marc P.S. If you're unsure as to how to get started with investing in Perpetual Dividend Raisers, check out my [Ultimate Dividend Package](. It's entirely free for Wealthy Retirement readers. [Simply click this link]( and enter your email address to receive my Ultimate Dividend Package - ENTIRELY FREE. 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