Balancing Financial Planning with Enjoying Life

The greatest barrier for every client isn’t lack of information.

It’s their own mindset and behavior.

Whether it’s someone who over-spends, someone who under-spends, someone who wants to sell out at the worst possible time, or even the person who never sends in the data you need…

The key to changing their behavior starts with understanding their money mindset.

Sarah Newcomb, Director of Behavioral Science at Morningstar, joined the show to discuss how to better understand a client’s money mindset.

We discuss:

• The framework she and her team developed to assess a client’s money mindset
• The important distinction between financial and emotional well-being
• The #1 predictor of savings behavior and how to help clients with it
• Using a “What-If Journey” to help clients overcome their fears
• How role models can play a powerful role in changing behavior and overall well-being

The featured partner for this episode is Knudge, an automated system to help clients actually follow through on their tasks and reach their financial goals.

*For more resources discussed in this episode –> Go Here.

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