Most financial experts focus solely on numbers, but Rick Kahler, CFP®, CFT™, takes a deeper approach. With over 40 years of experience, Rick blends practical financial advice with powerful emotional insights to help you understand why you make the money decisions you do. Research shows that 90% of our financial choices are driven by emotions—not logic. Whether your habits seem irrational or confusing, Rick helps uncover the underlying beliefs and feelings influencing your behavior. It's abou ...
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Where did you learn about money? If you were lucky enough, maybe you learnt how to manage money from yours parents. Or you have made it a life-long pursuit … gaining investment advice from professionals, programs or even wealth creation gurus. But what about learning about money from psychologists, behavioural scientists and even environmentalists. Welcome to Financial Therapy, I’m your host Jane Monica-Jones and I am a Financial Therapist. I’m the therapist you go and see, with your bank ac ...
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#184 - Finding the Right Financial Therapist: Searching for a Needle in the Haystack
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This episode dives into the unique world of financial therapy, where professionals bring together personal finance and emotional well-being. Whether they’re dual-credentialed as Certified Financial Planners and Certified Financial Therapists or experts in money-related trauma, the key is finding the right fit for you. We'll share how to navigate th…
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#183 – Revisiting The Financial Therapy Evolution – What is it, Who Needs it?
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In our first podcast episode, 183 episodes ago, we introduced financial therapy as a groundbreaking blend of emotional insight and financial strategy. But has the field evolved since then? In this multi-part series, we revisit the core principles of financial therapy and explore how the practice has changed—and how it hasn't. From the rise of new t…
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#182 - The Cost of Over Confidence Bias - My Expensive Lesson in Travel Insurance
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In this episode, I’m sharing a hard lesson I learned about travel insurance—one that cost me thousands of dollars and a once-in-a-lifetime trip to the Arctic for my 30th wedding anniversary. Like many of you, I thought I understood what my travel insurance covered, but as it turns out, I didn’t read the fine print closely enough. A mechanical fligh…
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#181 Why Coffee Shops Shouldn’t Exist—But You’ll Keep Them in Business
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If we were driven purely by logic, coffee shops wouldn’t stand a chance. But let's be real—habits, emotions, and convenience keep us coming back for that daily cappuccino. In this video, we break down the financial side of making coffee at home (hint: the savings are big) and take a closer look at why, even with the math on your side, you’re still …
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#180 - The $18 Million Reality- A Millionaire Today Isn’t What It Used to Be
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In this episode, we explore why $1 million today doesn’t hold the same power as it did in the past. Did you know it would take $18 million in today's dollars to match the purchasing power of a 1929 millionaire? We dive into cognitive biases like money illusion, anchoring, and status quo bias, explaining why so many people still cling to the notion …
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#179 - Keys to Financial Success-10 Ways to Evaluate Your EQ
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In this podcast episode, we're diving into the critical role that emotional intelligence (EQ) plays in your financial success. Understanding and managing your emotions is key to making smart money decisions, and we're here to help you assess where you stand. We’ll explore ten definitive ways to evaluate your EQ, from recognizing emotions, emotional…
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#178 - Embracing Senior Discounts: They Are Not Just About The Money
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Discover the surprising emotional journey behind senior discounts in this episode, where we unravel the mix of pride, resistance, guilt, and even shame that often accompany these perks of aging. Why do some seniors hesitate to claim what they’ve earned? How do societal views on aging influence these feelings? And how can we shift our perspective to…
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#177 - The 2024 Election Outcome -Your Portfolio And What To Do Now
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In this insightful episode, we delve into how U.S. election outcomes influence retirement planning, revealing a surprising pattern: many advisors and clients react to political uncertainty with fear-driven investment decisions, often to their detriment. Reflecting on the 2016 and 2020 elections, we explore how market reactions defied expectations. …
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#176 - Keys to Financial Success-10 Ways to Evaluate Your EQ
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In this podcast episode, we're diving into the critical role that emotional intelligence (EQ) plays in your financial success. Understanding and managing your emotions is key to making smart money decisions, and we're here to help you assess where you stand. We’ll explore ten definitive ways to evaluate your EQ, from recognizing emotions, emotional…
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#175 - Alarming Social Security Statements Impact on Your Wellbeing
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Fear and frustration about Social Security's future are spreading like wildfire, especially during election seasons. Politicians have intensified these concerns, warning that Social Security will go broke by 2035. This has left many, especially younger workers, feeling bitter and anxious about their financial futures. Stories of individuals doubtin…
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#174 - Facing the Emotional and Financial Reality of Dying Broke
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When people think of "Dying Broke," they often picture spending their retirement on memorable experiences, influenced by optimism bias. However, the harsh reality is that many will outlive their financial resources due to long-term health care costs, driven by availability heuristic and anchoring bias. The hidden and escalating fees in assisted liv…
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173 - Navigating Retirement Finances: The Role of Financial Advisors
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The transition to retirement often prompts crucial questions about financial well-being. Is ongoing financial planning or therapy essential during this new life chapter? And can retirees realistically afford these services? While the importance of financial guidance in retirement is undeniable, the feasibility of accessing such support varies widel…
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#172 - Balancing Passion and Pay: A Reality Check
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In this episode, Rick explores the evolving perspectives on career and passion within the financial life planning community. Once an advocate of "do what you love and the money will follow," many early life planners have now realized the challenges of balancing fulfilling work with financial stability. Featuring insights from Scott Galloway and Jon…
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#171 - Bridging the Inflation Perception Gap-Webster vs. Populism
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In this episode, we delve into the evolving definition of "inflation" and the cognitive biases influencing public perception. While economists traditionally define inflation as the gradual loss of purchasing power reflected in the CPI, many Americans now equate it with high prices. This shift, highlighted in Mike Allen's article "The New Inflation,…
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#170 – The Best Kept Secret to Maximizing Your Social Security Benefits
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Rick tackles a common misconception about Social Security benefits. Many people opt to take their benefits early to avoid leaving money on the table if they pass away young. However, this very reason is exactly why they should consider waiting and why cognitive biases and emotions keep us locked into making a poor decision. We’ve all heard that by …
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#169 - From Money Stuck to Money Flow Using IFS with Britt Frank
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Are you struggling to break free from unhealthy money habits? Do anxiety and shame sabotage your financial goals? In this video, I dive into a groundbreaking therapeutic approach called Internal Family Systems (IFS). You'll learn how IFS can help you understand the "parts" within you that drive your money behaviors. We'll explore how these internal…
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168 – The Science of Getting Unstuck with Britt Frank
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Feeling stuck? In this episode, host Rick chats with psychotherapist and best-selling author Britt Frank. Discover the neuroscience behind stuckness and practical tools to make positive changes in your life. Britt discusses the difference between feeling stuck due to a lack of choices versus disliking your options. She emphasizes the importance of …
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167 – Love is Grand, But a Prenup Can Be Too
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Ditch the stigma! This episode dives into the surprising benefits of prenups, even for young couples starting fresh. We'll show you how exploring a prenup, whether you choose to create one or not, can spark crucial conversations about finances, debt, and your future together. Forget just dividing assets - prenups can build communication, trust, and…
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166 – Wealth Equals Well-being - Only If You Spend It
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Forget everything you think you know about Ebenezer Scrooge! This video unravels the surprising truth behind his "miserly" ways. Was he really only concerned for himself ? OR did his spending habits underscore that he suffered from hidden trauma that actually warped his ability for self-care? Discover the key to Scrooge's transformation (hint: it's…
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165 - Beyond Calories & Budgets -Breaking Societal Taboos & Finding Lasting Change – Part 3
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Conclude the series with Rick and Celia as they tackle societal taboos around money discussions and draw parallels between financial secrecy and body shame. Explore the emotional complexities faced by individuals in larger bodies, navigate biases, and challenge assumptions about happiness and appearances. Gain insights into the link between self-wo…
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164 - Beyond Calories & Budgets -Navigating Emotional Dimensions – Part 2
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Dive deeper with Rick and Celia as they explore the profound link between feeling secure in your body and financial safety. Uncover the emotional drivers behind controlled or chaotic eating, and how both food and spending can be used to seek connection or disconnection. Learn about the psychological roots of money and food-related behaviors, emphas…
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163 - Beyond Calories & Budget Unveiling the Parallels - Part One
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Join financial therapist Rick and food & body image specialist Celia Clark as they shatter myths about health and unveil surprising connections between healing your relationship with food and managing your finances. The speakers explore the concept of "bonding" with food or money, and how societal pressures play a role. Explore the link between deb…
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162 - Rich or Poor - The Need for Financial Literacy
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Money challenges cross income lines. This episode sparks a thought-provoking discussion on why everyone needs financial literacy. We explore limitations of current programs, delve into emotional aspects of money across income levels, and consider what else is needed. Join us as we challenge assumptions and discover new approaches to empower everyon…
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161 - Exploring The Fears of Not Owning a Home
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Is homeownership the dream for everyone? Join Rick as he dives into the complex emotions behind renting vs. owning. Discover the hopes, fears, and personal factors that shape this life-altering decision. This insightful exploration goes beyond finances, offering valuable perspectives for financial planners and individuals seeking a holistic underst…
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160 - Beyond Golden Years: Unraveling the Emotional Maze of Senior Financial Planning
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Forget financial utopias! This episode tackles the often-overlooked emotional realities of senior financial planning. Explore the unique hurdles faced by seniors, from navigating changing health to grappling with complex financial decisions. This eye-opening journey provides crucial insights for both seniors and their loved ones, empowering you to …
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159 - Wealthy Families: Beyond the Glitter, Unveiling Hidden Challenges with Dr. Moira Somers
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Family fortunes come with unique challenges. Join Dr. Moira Somers, a leading expert in wealth psychology, as she delves into the complexities of "business royalty." Explore the intricate web of challenges impacting relationships within families and communities, gaining valuable insights for navigating success and prosperity with grace. This episod…
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158 - Cracking the Procrastination Code - Why We Delay Financial Action & How to Stop with Dr. Moira Somers
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Ever seek money advice but struggle to follow through? You're not alone! Join Dr. Moira Somers, renowned psychologist and wealth expert, as she dives into the "procrastination puzzle" in finance. Explore the hidden design flaws and psychological roadblocks that hinder financial follow-through. Discover strategies to overcome procrastination and emp…
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157 - Is Financial Therapy Right for You? Unlock the Signs & Take Charge!
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Feeling overwhelmed by money decisions? Struggling with past financial trauma? This episode is your guide! Join Rick as he answers the crucial question: "How do I know if I need a financial therapist?" Discover the key signs and emotions that might signal it's time to explore financial therapy. From emotional spending to lingering debt trauma, we'l…
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156 - Reflections on The Third Anniversary of The Financial Therapy Podcast and What It Means To Pick Up a Penny
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Join us for a special edition of the Financial Therapy Podcast as we celebrate our third anniversary! Host Rick Kaler reflects on the journey of producing 156 episodes, sharing insights and lessons learned along the way. Rick dives into an intriguing discussion on the psychology of picking up a penny, exploring various money scripts and the emotion…
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155 - African Psychology & Financial Therapy - Finding Freedom & Boundaries – Dr. Prince Sarpong
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Dive deeper with Dr. Prince Sarpong and Rick as they discuss the complex relationship between financial freedom and community harmony. Discover how embracing healthy boundaries within the Ubuntu philosophy can unlock true liberation. Learn how prioritizing relational well-being alongside financial goals leads to a more fulfilling and meaningful lif…
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154 - When African Psychology Meets Financial Therapy–Dr. Prince Sarpong
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"Your money troubles run deeper than you think," says Dr. Prince Sarpong. Explore the impact of "Black Tax" and the Ubuntu philosophy on financial culture. Learn how cultural expectations, enabling dynamics, and community connection influence financial decisions. Discover a fresh perspective on financial freedom that goes beyond just the numbers. A…
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153 - Unlocking Financial Harmony - The 8 C's and 5 P's of Well-being
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Tired of focusing on negative financial behaviors? Discover a path to true financial well-being! This episode unveils the positive traits that define a healthy relationship with money, guiding you from "tranquility" to "compassion" and beyond. Navigate the financial landscape with more clarity and confidence, fostering a sense of stability and cont…
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152 - Escaping the Guru Trap - Breaking Free from Destructive Financial Cults with Jillian Knight – Part 2
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Join LMFT Jillian Knight and Rick as they delve deeper into the dangers of rigid financial communities. Explore tactics like shame, guilt, and manipulation used to control members. Learn to recognize these red flags and protect yourself from harmful group dynamics, even if they appear helpful on the surface. A podcast that blends the nuts and bolts…
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151 - Escaping the Guru Trap: Jillian Knight's Story – Part 1
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Financial gurus promise riches, but can they trap you in shame and rigidity? Therapist Jillian Knight, LMFT, shares her personal story, revealing the red flags of extreme devotion and leader manipulation. Discover how this experience shaped her unique approach to financial freedom and empower yourself to make healthy choices. A podcast that blends …
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150 - Master Your Emotions on the Financial Rollercoaster
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Imagine making a smart investment, then watching the market plunge. Panic sets in, your dream yacht vanishes, and "lost money" haunts you. This episode equips you to navigate emotional waves and make calmer financial decisions. Learn how to anchor your well-being and ride the market with confidence! A podcast that blends the nuts and bolts of finan…
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149 - Uncovering Hidden Gems – AI vs. Authentic Intelligence with Susan Bradley - Part 2
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Dive deeper with Susan and Rick as they continue their captivating conversation. Explore how Susan's work with financial planners empowers financial therapists. They'll delve into the future, questioning the role of Artificial Intelligence and championing the power of Authentic Intelligence in both professions. Get ready for insightful perspectives…
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148 - Uncovering Hidden Gems – The Intersection of Financial Transitions & Financial Therapy with Susan Bradley – Part 1
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Buckle up for a thought-provoking ride with Susan Bradley and Rick! Decades of conversations, never recorded until now, unfold as they explore the groundbreaking intersection of financial transitions and financial therapy. Be surprised as they uncover hidden gems, sparking insights for financial planners and therapists alike. Join this spontaneous,…
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147 - A Fiduciary Advisor Is Not Enough Anymore
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The real issue isn’t whether your financial advisor is a fiduciary, it’s whether they have a conflict of interest. Here is the sad truth. Most Americans believe they already receive objective, fiduciary advice. The overwhelming odds are that they don’t, especially if the advisor has a conflict of interest over how they are paid. Some data suggests …
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146 - One Set of Money Scripts We Don’t Talk About
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What money scripts has Rick never thought of, has he never covered in any of the books he’s authored? Surveys show that if the average American didn’t have these money scripts, they would do things differently. Every American has money scripts on this topic, and yet it isn’t a topic that is top on the list to discuss on date night, or any other nig…
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145 - Understanding the Emotional Landscape of Debt Forgiveness
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Embark on an insightful journey as we explore the nuanced emotions surrounding student loan forgiveness in this episode. Prompted by a recent inquiry from a talk-show host, Rick delves into the emotional terrain, especially for those who never carried student debt or did not qualify for forgiveness programs. What might it feel like for individuals …
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144 - Beyond Roadblocks: Unleashing Productive Conversations
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These 12 roadblocks can prevent you or your clients from listening effectively because they focus on the professional’s agenda rather than the client’s needs. They can also leave the listener on the defensive or feeling a plethora of emotions, which makes it very difficult to have a productive conversation. After listening to these 12 Roadblocks, y…
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143 - Empower, Don't Advise: Unlocking People's Potential
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Most professionals make their living giving advice. Many of us go to lawyers, doctors, therapists, accountants, and financial planners for their advice. Early in my career I was more than willing, even eager, to oblige dispensing advice, solicited or not. At the heart of seeking advice is when we may be contemplating making a change in the status q…
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142 - Resistance Means You’re Moving Too Fast
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“When you meet resistance, you are moving too fast.” This is a truism that I hold to when it comes to relationships, especially in my capacity as a financial therapist. The illusion is that people come to financial planners and therapists for financial advice. Financial professionals often assume that when they give advice that would seem an obviou…
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141 - Talking Money, a Taboo Topic in Both the US and Africa
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“Money conversations are hard; people refuse to talk about money.” We know that is true in the US, and it’s equally true in Africa. Join Rick in an interview with Peter Kwadwo Asare Nyarko, the Executive Director of the Centre for Financial Literacy Education Africa. In bringing his passion for financial wellbeing to Africa and building a successfu…
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140 - A Dire Prediction With a Massive Miss
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At the height of the pandemic recession, a June 22, 2020, headline in The Capitalist.com caught my eye: “Dollar Will Plunge 35%, Lose Status as World Reserve Currency.” This was quoting Stephen Roach, a senior fellow at Yale University and the former chairman of Morgan Stanley Asia, someone who is well respected by his peers. As it turned out, he w…
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139 - Cognitive Biases That Harm Long Term Care Decisions
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Needing long-term care (LTC) is largely not something that is an unknown. This issue isn’t “if,” it’s “when.” I was recently talking with a client about the difficulty in having instant options available when deciding to go into independent or assisted living. LTC facilities often have waiting lists that are months or years long. When you need a un…
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138 - Transitioning to Full-Time Travelers with Tamala Floyd
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Learn how Tamala Floyd, Certified IFS Therapist and Lead Trainer, transitioned her life to become a full-time traveler at no additional cost to, or significant change in, her lifestyle. She explains the preparation, both financially and emotionally, that it took to embark on this grand adventure, which may surprise you as much as it did Rick! A pod…
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137 - Faux Financial Intimacy
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Are you and your spouse truly aligned when it comes to finances? Do you rarely experience conflicts about money? If so, you might have achieved financial intimacy in your relationship. Financial intimacy, however, goes beyond merely sharing financial information; it involves feeling safe and comfortable discussing any money-related topic with your …
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136 - Toxic Financial Positivity
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Positive thinking about money can be beneficial, but it can also be harmful if it leads us to suppress our emotions. Emotions like joy, gratitude, and love are crucial for making sound financial decisions. However, when we deny ourselves the opportunity to fully experience our emotions, it can negatively impact our mental and financial well-being. …
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135 - Resistance Means You're Moving Too Fast
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In my experience as a financial professional, I've come to believe that "When you meet resistance, you are moving too fast." This principle holds true in relationships, especially in my role as a financial advisor and therapist. The common misconception is that people seek financial professionals solely for financial advice. Professionals often ass…
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