Tag: Fear-Based Mindset

Narrative Wins: How Personal Stories Shape Financial Decisions w/ Joe Caruso & Shawn Mahoney, PhD | Episode 45

Narrative Wins: How Personal Stories Shape Financial Decisions w/ Joe Caruso & Shawn Mahoney, PhD | Episode 45

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Summary: In this episode of Wealth on the Move, host Will Hoffman engages with Joe Caruso and Dr. Shawn Mahoney, co-authors of the book ‘Narrative Wins!’. They explore the profound impact of personal narratives on financial success and decision-making. The conversation delves into how the stories we tell ourselves shape our behaviors, particularly in the context of money, and emphasizes the importance of understanding and re-contextualizing these narratives to foster better financial outcomes. The discussion also highlights the role of fear and greed in financial decisions and the significance of client relationships in wealth management. In this conversation, the speakers delve into the intricate relationship between trust, personal narratives, and financial decision-making. They explore how trust is built and the impact of scarcity versus abundance mindsets on financial behaviors. The discussion highlights the psychological ties between love and money, the importance of understanding personal narratives, and the role of AI in enhancing financial advisory services. The speakers emphasize the need for self-awareness and the ability to shift narratives to foster better financial outcomes.

Resources: 

Takeaways:

  • The personal narrative is foundational to our identity.
  • Successful individuals often have healthier narratives than those who struggle.
  • Curiosity and awareness are crucial in understanding our narratives.
  • Fear and greed are the two primary emotions influencing financial decisions.
  • Contextualizing financial fears can lead to better decision-making.
  • Personal narratives can evolve over time based on experiences.
  • Client conversations should focus on understanding their narratives.
  • The stories we tell ourselves can either empower or hinder us.
  • Awareness of our narratives is the first step to change.
  • It’s essential to remember that financial management is about people, not just money. Trust is fundamental in relationships and must be earned.
  • Scarcity mindset can lead to neurotic behaviors and poor financial decisions.
  • Understanding personal narratives is crucial for self-awareness.
  • Rationality in financial decisions is often clouded by fear and emotions.
  • AI can enhance financial advisory but cannot replace human connection.
  • Generational perspectives shape our views on money and wealth.
  • Narratives influence how we perceive wealth and success.
  • Shifting one’s narrative can lead to better financial outcomes.
  • Identifying disruptive narratives is key to improving financial habits.
  • Listening and understanding clients’ narratives is essential for advisors.

Connect with Will Hoffman: 

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Mindfulness and Core Values: Its Impact on Financial Well-Being and Life with Michele Walter (Ep. 24)

Mindfulness and Core Values: Its Impact on Financial Well-Being and Life with Michele Walter (Ep. 24)

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With constant changes and external pressures, finding our true purpose in life, establishing inner peace, and maintaining financial alignment can seem like an overwhelming task.

What changes can Gen X’ers make to find true balance?

In this episode of the Monetary Mixtape podcast, Will Hoffman chats with Michele L. Walter,  certified professional coach, mindfulness meditation teacher, and owner of Life From the Summit. 

Michele shares her personal journey from being a lawyer to a mindfulness coach and how mindfulness meditation transformed her life. Michele explores the power of mindfulness meditation, finding gratitude in challenging situations, and how to align financial decisions with personal values. 

Michele discusses: 

  • Her journey to mindfulness and coaching
  • The concept of mindfulness and the importance of awareness and compassion
  • Her personal experience as a Gen X’er and how reaching the age of 40s and 50s often leads to existential questions about our purpose in life
  • Where expectations come from and the difference between personal desires and societal pressures
  • The importance of core values and purpose 
  • The value of making small steps in various aspects of life
  • And more!

Resources:

Connect with Will Hoffman: 

Connect with Michele Walter:

About Our Guest: 

Michele L. Walter is the founder of Life From the Summit. She is an Associate Certified Coach (ICF), Certified Professional Coach (iPEC), Certified Mindful Meditation Teacher (SoundsTrue), Certified NUSHU Facilitator, seasoned litigator, 3-time Ironman, runner, mountaineer, and dog mom living in the beautiful Colorado mountains.

About Our Host: 

Will Hoffman is a financial advisor and the Founder of Hoffman Wealth Management, a firm dedicated to helping professionals create wealth plans that revolve around their financial goals. Will has 20 years of experience in the financial services industry and is passionate about becoming his client’s most trusted financial ally. 

 

Michele Walter and Life From the Summit are not affiliated with or endorsed by LPL Financial and Hoffman Wealth Management.

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Private Advisor Group, a registered investment advisor. Private Advisor Group and Hoffman Wealth Management are separate entities from LPL Financial. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed.  No offers may be made or accepted from any resident of any other state.

 

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