Featured Insight

Moving from Misery to Wisdom in Your Financial Life

Insight Beyond Money Emotions Financial Wisdom Health & Wellness Values
Misery to Wisdom Tree

Misery loves company, or so the saying goes. When you’re in a miserable financial situation, it can feel hard – if not impossible – to dig yourself out. If you’re lucky, or if you’re in tune enough to recognize that your misery is temporary, you’ll find a trusted financial professional to bring you some wisdom.

“The wisdom helps the client experience less financial stress. And in addition to improving financial health, reducing financial stress in turn enhances physical health and emotional well-being (happiness),” explains financial advising legend Doug Lennick. [1]

How can a financial expert help?

Truly positive results are gained when the philosophy behind the advice you’re getting is tailored specifically for you. If a person’s values lead to their goals, and those values and goals together are used to make sound decisions, positive results are almost inevitable!

We know that as a person ages, they put an increased effort towards becoming healthy. We also know that they want to live a life that reflects their values (as many millennials are calling it, living their best life)! The professionals who work in the financial services industry also know that unless a person is greatly prepared for the certainty of uncertainty, they’ll be dealing with a lot of financial stress.

What’s the relationship between misery and wisdom when it comes to finances?

As financial stress increases, your emotional competence decreases. As emotional competence decreases, your irrational decision-making increases. As this happens, your physical and financial health decrease.

But, as financial stress decreases, your emotional competence increases. As your emotional competence increases, your irrational decision-making decreases. As you decrease the number of irrational decisions you make, your physical and financial health will both increase.

Breathe deeply and be prepared.

While building a relationship with a financial professional, it may be surprising to learn that it’s not all about crunching numbers, and black and white figures on paper. Instead, it’s deeper and much more personal than that. Your financial professional is the one who will help prepare you for the future, whatever it holds.

They’ll be the one rooting for you and supporting you as you save for a new home, sock money away for your kids’ educations, or prepare for the uncertainty of life after retirement. They’ve got the wisdom to help dig you out of any miserable holes you find yourself in… and prevent you from going back there!

Please contact us to have a conversation and we will help you take a deep breath and start feeling better about your finances.

[1] Lennick has authored or co-authored several books on the connections between human behavior and personal finance; he is currently CEO of think2perform and was previously Executive VP of Ameriprise Financial. He has also been a coach and mentor the founding partners of North Oaks Financial Group.