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Money Mindset

Latest "Money Mindset" Articles

How to choose the right financial advisor

Cover art for Financial Purpose Podcast Episode 29: How to Choose the Right Financial Advisor

Have you ever wondered how to choose the right financial advisor? Whether you’re looking to work with a financial advisor for the first time, or you are looking to change advisors, the looming question in your mind might be:... Continue Reading

Personal Finance is Personal!

Financial Purpose Podcast episode 27 with special guest and financial coach Sarah VanHoose

Personal finance is personal. Your money story is yours alone, and sometimes changing your money story is key to taking your next financial step forward. “This isn’t going to be my story anymore…” In this episode of the Financial... Continue Reading

What to do with your 401(k)

What should you do with your 401(k) when changing a job? The US is the only developed economy where cashing out is an option. It's called Retirement Leakage, and it's harmful to your wealth.

Changing jobs and wondering what to do with your 401(k)? You have four options available for your 401(k) plan when changing jobs. Yet, almost half of job changers cash out. A Harvard Business Review study found that approx. 41%... Continue Reading

Making better decisions!

an insightful visual aid to demonstrate how the quality of our decision-making process impacts our results.

Making better financial decisions requires an effective and structured process. Consistently following such a process can be challenging, especially when emotions come into play. Emotions can cloud our judgment and steer us away from the logical path. This generally... Continue Reading

Mental health and money

Mental health and money are on a continuum as discussed by Dale L Shafer of Life Moves Wealth Management and Jamie L Born of Born Counseling

Mental health is a key factor in financial health. The money beliefs that you internalized during your formative years, known as personal money scripts, can shape your financial decisions throughout your life. Awareness of these money scripts and their... Continue Reading

Banking and FDIC Insurance

Number of bank failures since 2009, according to the FDIC

Banking systems and FDIC insurance have captured public interest in the wake of the Silicon Valley Bank (SVB) failure. How much do you know about the fractional reserve banking system? In a fractional reserve banking is a system, banks... Continue Reading

5 tips for financial motion sickness

Fast ride, motion sickness. financial tips

Have you ever been on a boat in rough waters? Or on a super fast-spinning ride? How about the back seat of a car on a mountain road. These are some of the times when you might feel motion... Continue Reading

Set points

With weight control, habit and biology might be fighting against your fitness efforts. I think there’s a similar effect with money.

Have you ever heard of set point theory? At it relates to health, set point theory essentially states that your body has a normal set range for weight. Ever go on a cycle of diet and exercise, lose weight,... Continue Reading

Will it ever normalize?

Growth of $1 in the S&P 500 since 1926

These are the words that keeps crossing my mind. "Will this market ever normalize?" We are now a good 11 months into this market downtrend. Actually, if we're being picky, the tech market peaked in February 2021 and has... Continue Reading

Financial goals vs financial direction

Financial goals vs financial direction

One of the most common questions advisors ask prospective clients is: "what are your financial goals?" Financial services firms market a goal-centric approach to the general public. With this question, advisors are communicating that you need to have specific... Continue Reading

Follow your map

Follow your map

Having a sound financial plan is a lot like setting out on an adventure with a reliable map to follow. My wife and I love being outdoors and are avid hikers. We enjoy exploring our home state of Arizona... Continue Reading

Adjusting to market volatility

2022 has been a volatile year for stocks, bonds, and cash. It's unusual from a historic perspective to see all three deeply in negative territory at the same time. Yet, here we are adjusting to downside market volatility across... Continue Reading

The National Association of Personal Financial Advisors
The Society of Advice

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