As Managing Director at Euclid Harding, Brian Lasher works at the intersection of family, wealth and enterprise.
How well does your financial plan match your deepest dreams, possibilities and authentic goals?
Typical financial planning often involves a mechanical process: collecting historical data, analyzing your current financial situation and creating a standard plan that covers retirement projections, estate planning, investments and so on and so forth.
However, this approach rarely asks an important question: Where does money fit into a meaningful and contented life?
Good financial planning starts from the inside out. It addresses your underlying beliefs, feelings and unconscious thoughts about money, which shape your financial behaviors and ultimately determine your success in achieving your best life. Financial behaviors like spending and saving are not solely based on rational decisions. Skilled wealth managers can help you develop healthier relationships with money.
Understanding the interior aspects of a person’s relationship with money ensures that financial plans are perfectly aligned with their unique circumstances and emotional ties to money. My goal is nothing less than radical alignment. This inside-out approach is crucial for creating a financial plan and journey that resonates deeply with your true self. Here’s why:
Guidance And Support
Facilitating financial wellness means serving as a guide, or what I call a “Financial Pathfinder,” rather than a planner. Financial Pathfinders walk alongside clients, helping them explore and discover their own directions and goals. This approach builds trust and respect, allowing clients to clarify what is most important to them and work toward achieving it, with Pathfinders managing every aspect of their finances.
Customized Financial Plans
Everyone’s relationship with money is unique, shaped by their experiences with family, work and other relationships. Financial Pathfinders actively listen and respect your right to self-rule, tailoring suggestions to your specific situation, style and beliefs. This personalized approach leads to a more effective and sustainable financial journey.
Addressing Financial Stress
Financial stress can come from various life events, not just negative experiences or crises. Even positive events like receiving a large windfall or starting a new venture can be stressful due to fear of change, relationship conflicts or worries about the future. By addressing these emotional aspects, you can better manage financial stress and make more informed financial decisions.
Behavioral Changes
Focusing on your interior helps address emotional and psychological issues related to money. Events and emotions from the past shape how you think and feel and what you believe about money, influencing your current financial behaviors and choices. By working through these issues and becoming aware of them, you can make more informed and healthier financial decisions. You’ll have those “Ah, that’s why I keep doing that!” moments.
Managing Money Differences In Couples
Couples often have different financial backgrounds and approaches to money. Financial Pathfinders help couples navigate these differences through negotiated compromise, fostering a commitment to both financial health and the relationship itself.
Ultimately, this holistic approach empowers you to live a fully realized life, leaving a meaningful impact on the world and aligning your experiences with your core values. Instead of relying on default templates, as discussed in my recent article “Wealth Check-Up: Evaluating Your Financial Strategy For Changing Times,” take the time to thoughtfully plan the next phase of your financial journey with the guidance of a trusted Financial Pathfinder.
Success is not one-size-fits-all; it’s deeply personal and must be defined by you. By integrating emotional and psychological insights with financial knowledge, you can achieve radical alignment in your financial and life planning.
The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
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