The Long Game What Are You So Worried About (Money Edition)
May 31, 2024
Exploring the paradox of financial anxiety despite wealth, handling guilt around spending, managing wealth post-financial goals, seeking advice for informed choices, and transitioning from data-driven decisions to value-based choices
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High-Dollar Purchase Guilt
- Two clients considered buying very expensive homes and felt guilty about the dollar amounts.
- Thomas Culpelman explained the purchases were affordable by income ratios, yet guilt persisted.
Careful Planners Rarely Run Out
- Jacob Turner observed that people focused on their finances rarely call him saying they're completely out of money.
- Dedication to learning and planning usually prevents catastrophic cash shortfalls.
Money Anxiety Outweighs Mortality Fear
- Jacob Turner cited that two out of every three people worry more about money than they do about dying.
- That statistic highlights how deeply pervasive financial anxiety is across people who think about money.