Joe Lucey

You wouldn’t want a symphony comprised exclusively of flutists. A football team with nothing but offensive linemen is not likely to win many games. By the same token, it takes all types of people to run a company. When a business seeks to employ only workers who “fit” its corporate culture, it could end up missing out on some key characteristics for success.

Researchers have delved into the impact of different kinds of temperaments. They often refer to a person’s disposition as his or her emotional intelligence or emotional quotient (EQ), which sums up interpersonal skills such as sociability, sensitivity, adjustability and prudence.

These characteristics can play an important role in the work environment. For example, a person with a high EQ is generally perceived as proficient at following rules and procedures and getting along with others. These employees tend to score high in leadership roles, job performance, job satisfaction, and physical and emotional well-being. On the surface, it may be easy to understand why a company might look to hire only people with a high EQ.

However, there are some downsides to having a work environment filled with people with high EQs. For example, people with a higher EQ tend to exhibit lower levels of creativity and innovation. Creative types frequently are stereotyped as moody, nonconformist, excitable and even hostile. But the fact is, their impulse to challenge the status quo is one of the features of out-of-the-box thinking that many companies need to stay competitive.

High EQ people may also have issues giving or receiving negative feedback, which can impede their ability to lead and manage others. Researchers say they are so steady and well-adjusted that they may not give much credence to negative feedback they receive.

People who tend to get along well with others also may be so focused on maintaining good relationships that they do not excel at being change agents, driving results or making unpopular decisions for the good of the company. In other words, a high EQ person is more likely to “play it safe” and miss out on higher-risk but higher-reward opportunities.

This is why it often takes a wide variety of personalities to drive a successful company. One solution is to match the disposition of workers to the role they will fulfill. A person with a high EQ may excel in positions such as salesperson, customer support and account liaison. An employee with a lower EQ may be better suited for responsibilities related to creativity, innovation, leading change or taking risks.

It seems everywhere you turn these days, from news shows to news articles to local advertisements, there’s this idea of promoting “mindfulness” in our day-to-day lives. Mindfulness is generally accepted as focusing one’s mental state on the present moment, being completely aware of all elements around us.

Some financial professionals have expanded this idea of mindfulness to financial management. In an effort to help achieve this, some people practice a no-spending day, no-spending week or no-spending month. By avoiding expenses at all costs, we are forced to assess if and why we need to make certain purchases. For example, if you go into a store for one item, you shouldn’t leave with six more. Likewise, you might find you end up consuming all of the canned foods in your pantry before you feel the need to buy more.

Recognizing the difference between wants and needs is probably the biggest benefit to conducting a no-spend day. It’s also a good way to allocate your retirement income streams to help ensure your money doesn’t run out. In other words, you could designate steady and reliable income streams (such as Social Security, a pension or an annuity) for necessities such as food and utilities in retirement, while any other variable income can be used to pay for occasional indulgences.

There’s a growing body of research that supports this idea that mindfulness-focused activities, such as meditation and yoga, can help decrease anxiety, depression, stress and pain, as well as help improve general health, mental health and quality of life. In fact, one study concluded that the impact of ongoing mindfulness activities was both significant and long term compared to taking a short-term vacation which, at the outset, was very successful at relieving stress.

Neuroscience studies also have correlated the impact of aerobic exercise on cognitive clarity. In fact, vigorous exercise has been identified as the only known trigger to create new neurons in the brain. These newly produced neurons appear in parts of the brain associated with learning, memory, concentration and time management.

When comparing brain scans of young-adult cross-country runners to young adults who don’t engage in regular physical activity, scientists found that overall, the runners demonstrated greater functional connectivity for activities such as planning and decision-making.

On the surface, it may seem that the older we get, the less sharp our minds become. But alas, there also are studies that demonstrate more mature minds benefit from “crystallized intelligence.” This represents the knowledge and data that we have accumulated over decades of work and life experience. Older workers in particular can counteract age-related cognitive lag by relying on this foundation of experience to troubleshoot problems and innovate new solutions on the job.

Some educators believe that the medical profession should take this new focus on mindfulness into consideration, not just as a means to help patients cope with health conditions but also to help physicians become better at their jobs.

Doctors are sometimes guilty of taking a set of symptoms at face value and settling on an incorrect diagnosis because they are not tuned in to other symptoms or patient data that may have bearing. Medicine is an inexact science that takes years of experience to become adept at recognizing a wide array of conditions, yet it is equally important not to let that experience and confidence close the mind to other possibilities.

This is where the practice of mindfulness can help physicians become more attuned to each patient’s full array of symptoms and their own biases. To date, some experts believe a missing ingredient in medical education and medical practice are courses or workshops that teach physicians the practice and impact of mindfulness. This has become even more critical now that health care delivery has become more of a volume and administrative business with less time spent with patients.

Are you practicing mindfulness in the various areas of your life? Please give us a call  at (952) 460­-3260 if we can help you be more mindful of your current financial situation and long-term retirement income goals.

It was Aristotle who first suggested that humans are driven by five senses: eyesight, hearing, taste, touch and smell. However, neuroscientists say we have between 22 and 33 senses, including:

• Equilibrioception – our sense of balance
• Proprioception – controlling body parts without looking, which is how we can type without looking at the keyboard or walk around without looking at our feet.
• Thermoception – feeling whether the environment around us is cold or hot
• Chronoception – sensing the passage of time

What’s interesting is that our senses tell us more about our environs when they work together. For example, we may see a coffee cup, but it’s not until we pick it up that we get the sensation of it as a three-dimensional object. Furthermore, that sense of feel can tell us whether the liquid inside the cup is hot or cold; its weight tells us whether the cup is full or empty.

Our senses are so strong that they can instinctively influence our daily lives — even our financial decisions. For example, we may see something at a shop or on TV and get a gnawing, pervasive drive to own that item. All sense of discipline or prudence may go out the window, replaced by something far more aesthetically gratifying. It’s not just sight. Wonderful smells coming from a restaurant can cause you to abandon all plans for cooking at home tonight, even if that means the meat you left out to thaw will go bad.

However, there are ways we can attempt to control our senses and even use them to our advantage. For example, practice “selective hearing.” Try filtering the advice you hear on the local news or a financial news channel. You could also utilize the advice of a trusted financial advisor who has taken the time to understand your particular financial goals and situation.

When it comes to impulse buying, perhaps you can replace a frivolous item with a symbolic one. For example, you may be tempted to buy a new cellphone or a pair of shoes that you really don’t need. In the moment, these products can be more satisfying than paying off a credit card because they are tangible items you can touch. To counter this tangible reward, find a symbol of your financial goal that you can see and/or touch on a daily basis — even if it’s just a picture torn out of a magazine and stuck to your refrigerator — such as the house of your dreams, a picture of your credit card, a cap and gown, a sailboat or the Eiffel Tower.

Physical and visual reminders can help you stay on track to meet your goals and offset temptations that may steer you wayward.