Why do we get so stressed/excited about money?
Dr. Moira Somers
Financial Psychologist. Family Wealth Consultant. Educator. Author.
This was the general theme of a wide-ranging conversation I had recently with Robin Powell from the UK. In addition to being a top-notch interviewer, Robin is a tireless campaigner to bring positive change to the financial industry.
In this interview, Robin and I talk at length about what makes it difficult for us to do the right things with our money. We also talk about the tremendous assistance that skilled financial advisers can offer us when things such as tax aversion, hyper-excitability, risk aversion and lack of self-forgiveness and confidence are taking us in all the wrong directions.
Founder of Damien A. Hughes Financial Planning | Lead Designer at The Financial Plan Design Co
6 年Favorite quote of the podcast - "Advisors help us behave… they spur us into action when we might be frozen with indecision or fear.” This point is exactly why financial advisors/planners can't be replaced by robots & AI. A human client wants a human advisor to say "everything is going to be ok." Can't automate emotion and empathy.