"Redefining Needs: A Financial and Wellness Perspective on Want vs. Need," we explore the insightful concept of distinguishing between wants and needs in both our financial and personal lives. Drawing inspiration from Carl Richards' essay, the episode delves into how the perception of necessities and luxuries evolves, impacting our financial decisions and lifestyle choices. We discuss practical strategies like delaying purchases, implementing a 'Stuff Quarantine,' and the 'One In, One Out' rule to foster mindful spending. Shifting to wellness, the episode parallels these financial concepts with holiday eating and lifestyle habits, emphasizing the importance of balance and self-awareness. This episode aims to encourage medical residents and attending physicians to critically assess their choices, promoting financial prudence and a healthier lifestyle amidst the festive season's temptations.www.residentriches.com@residentrichesThis podcast is for informational purposes only and shouldn't be used for specific financial advice. Norman Wright is a registered representative of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and SKC Financial Group are not affiliated.

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