You can deny it all you want, but you’re just like everyone else: you stress out about money.
You can’t help it. The rat race makes it your goal in life to become rich enough to be happy, but what most people never realize is that’s not how happiness works.
The answer isn’t in your stockbroker’s office.
It’s actually in a very different kind of office…it’s where you’ll finally understand your relationship with money. Only then can you meaningfully start making more of it.
You’re not alone if you worry about money all of the time.
The American Psychological Association pledged to find what was stressing people out so much, and they got their answer.
Since 2007, money has been the number 1 stressor for everyday people like you.
Whether it’s not having enough, not knowing how to spend it, or figuring out how to get more, you’re likely to be losing sleep over how finances impact your life.
And that’s unhealthy. Here at The Midas Legacy, we care about advancing your wealth 100%, but we also focus on how to remain happy and healthy while doing so.
Sacrificing your peace of mind for money is a surefire way to guarantee your misery. People struggle enough to find ways to be happy, so try to steer away from certain failure.
That’s why we’re going to talk about where you can find the answers you’ve been looking for.
Some people were incredibly fortunate to have financially literate parents or mentors, and they developed a healthy relationship with money on their own.
Unfortunately, those people are in the minority. Most adults wrestle with finances, credit, debt, and investing for most of their working life, and that’s a waste of time.
I want to intervene now before you spend a second more looking for financial solace in all the wrong places.
The main reason you’ve never made all the money you wanted to or lost out on profits you could have had is because when it comes to money and emotion, we often throw logic out the window.
Financial advisors are industry professionals designated to help unskilled people break into the stock market, or save for retirement, or manage their budgets.
They’re supposed to be the guiding light to bring your money from where it is now to where you want it to be (usually getting larger in sum is a common goal).
But their failures to return sky-high profits or successfully turn your retirement fund into a million dollars aren’t necessarily their fault.
Most of that lies on you – the client. But it’s an unconscious effort on your part. Obviously, you wouldn’t purposefully sabotage your chances to make money.
But our emotions get in the way, and as a result, we may ignore logic and lessons from financial experts in favor of what feels comfortable or right.
While you may sleep better at night, you’re selling yourself short on how successful your money could be.
To solve our innate stubbornness, a new field has been introduced to financial planning – therapy.
Now you may have your preconceptions about therapy, but there’s nothing wrong with seeking psychological professional help.
There’s a harmful stigma towards psychotherapy in our society, and that’s part of what’s holding us back from our true potential.
Financial therapists are the intersection of financial advisors and psychotherapists. They study the relationship between the brain, our emotions, and money.
And you can’t deny by now that they’re inextricably linked.
How many times have you swiped your credit card and felt your stomach tighten in knots?
That’s because our minds control our bodies, and therefore our wallets.
The answer as to why your investments haven’t returned thousands yet is not behind your financial advisor’s door.
All they can do is advise a trade and await the outcome.
But a financial therapist can look into your life, and your attachment to your money, and perhaps ascertain that your returns are lower because you refuse to risk more.
A financial therapy client, Sheri Reid Grant, was a middle school teacher when she inherited millions of dollars from her deceased parents.
After years of anxiety, depression, and fear on how to handle the money, a financial therapist stepped in and discovered her hesitation to confront the funds stemmed from a childhood belief that she wasn’t responsible with money.
Her father’s favoring of her brothers to partake in the family business, and their annual Christmas paychecks, burned into her mind that he believed she couldn’t handle money.
When her parents’ fortune passed to her, she was unable to confront that childhood belief and it very literally disrupted her life and her finances.
A financial therapist broke through those barriers and advised her on how to distribute the wealth in a healthy manner.
Financial therapy is a budding field, and professionals are still working out the kinks.
For example, a financial therapist with a background in finance is not permitted to give you psychological advice, and vice versa for a psychologist.
But industry leaders are developing standardized certification procedures that ensure each financial therapist is able to give sound financial AND psychological advice.
So next time you find yourself with big questions outside your stockbroker’s door, get back in your car and call up a financial therapist.
They’ll have the answers you’ve been looking for.