The Stacking Benjamins Show How Pros Build Motivation Into an Effective Financial Plan (SB1659)
Mar 21, 2025
Jesse Kramer, host of the Personal Finance for Long-Term Investors podcast, and Dana Anspach, a CFP and retirement planning expert, dive deep into the art of financial motivation. They explore why many struggle with financial planning and how goal-setting psychology influences our habits. Dana shares insights on how tracking retirement balances can drive savings, while they discuss the need for financial advisors to take on more active roles, akin to sports coaches. Plus, a fun trivia segment about junk fees adds a playful twist!
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Delayed Savings Realization
- Dana Anspach struggled to motivate a client to save until he neared retirement.
- The client's resistance stemmed from the distant nature of retirement.
Long-Term Planning Resistance
- People often struggle with long-term financial planning because it's hard to envision the distant future.
- A tangible goal, like a hike or retirement, makes planning more relatable and motivating.
Addressing Client Concerns
- Address clients' immediate financial concerns first to build trust and demonstrate value.
- Connect those immediate concerns to broader financial planning aspects to show relevance.