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Tag Archives | Financial Planning Psychology

Client-Focused Financial Planning Addresses Money and Emotions

Anyone who sent a check to the IRS this month certainly doesn’t need to be convinced that there is a relationship between money and feelings.  I can personally attest that paying a hefty tax brings up a great deal of painful emotion. The case for the union of money and psychology is overwhelming.  Almost everyone […]

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For Financial Success, Outsmart Your Brain

How’s this for a convincing excuse not to save for retirement? “I can’t help it. The human brain is programmed for financial failure.” An estimated 80 percent of our decisions are made emotionally. Our brain is divided into three sections. The upper brain, or cerebral cortex, is where we reason. The middle brain, or limbic […]

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Advisors Collaborating With Therapists for Clients Money Issues

“Amid all the chaos and anxiety wrought by the tumultuous stock market and murky economic outlook, a small but growing number of advisers are enlisting the help of therapists — not for themselves but for their clients.”  Lisa Shidler from Investment News magazine interviewed Rick along with several other advisors and psychologists who collaborate with each […]

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Planning For the Health Care Plan

Whether you support or disagree with the inevitable health care plan coming out of Congress, it will be wise to pay close attention to the financial consequences of the legislation. Consequence One: Higher Taxes. The House bill puts an additional 5.4% tax on singles earning over $500,000 a year or couples with over $1 million. […]

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Top Ten Beliefs Behind Poor Money Choices

Each of us has a set of unconscious beliefs about money, or “money scripts.” These beliefs, commonly formed in childhood, shape our financial choices in adulthood. Money scripts are partial truths, but one of the reasons they cause problems in our lives is that we unwittingly act on them as if they are completely true. […]

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