Retirement in Metamorphosis

The concept of retirement is undergoing a metamorphosis.  Demographic, societal, and workplace trends have all converged to offer a stage of life that is much more fluid and flexible than what most of us previously imagined.  In fact, retirement has become a matter of personal definition.  Adding fuel to the fire of retirement reformation is […]

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The Emerging Role of Post-Retirement Work

When it comes to preparing for retirement, the old rules about money have been thrown out.  Therefore, adults of all ages need a new framework to guide and motivate their preparation for long-term financial independence.   In the past, the goal of traditional retirement planning has been to build a retirement “nest egg” of personal […]

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Comfort with Emotion

More than a decade ago, I had the opportunity to work on a fascinating research project that was co-sponsored by the FPA and partially funded by the CFP Board.   The study examined a large number of communication variables and surveyed both planners and clients.  The goal was to identify specific elements of communication that […]

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What is Wisdom?

Ben Coombs has been a long-time friend of Money Quotient as well as an enthusiastic cheerleader and collaborator.  Therefore, I took special note when Michael Kitces invited Ben to publish a guest post on kitces.com titled “10 Wise Lesson Learned About Being A (Better) Financial Planner” In his introduction, Michael explains that Ben was a […]

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The Benefits of Buying Time

Most adults are increasingly experiencing a time crunch.  The result is mounting stress and compromised health and vitality.  And yet, despite their best efforts, many individuals express frustration about not being able to bring tasks to completion or having enough time to focus on what or who is most important to them. Scientists have even coined […]

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Purpose Drives Financial and Life Planning

Do your clients desire to be rich? The word “rich” can be defined as possessing great material wealth, and it can also be defined as that which is abundant, meaningful, and significant. Therefore, what kind of wealth do your clients desire the most? Do they want to experience a life of riches or a rich […]

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The Psychology of Giving

Although a number of studies have focused on the effect of income on happiness, Elizabeth Dunn, a socialpsychologist at the University of British Columbia, also wanted to understand the effect of spending choices on happiness.

For example, previous research clearly demonstrated that income has a predictably positive effect on level of happiness, but these levels remain flat over time even as income increased. This finding puzzled Dunn and she wanted to find out why happiness did not increase along with income.

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Defining the “Why” of Your Clients’ Goals

Failing to reach personal and financial goals can be both frustrating and disheartening for your clients. And, to make matters worse, they often realize that they are their own worst enemies when it comes to sabotaging their dreams.  However, research has shown that your clients can dramatically increase their rate of success by first determining a meaningful and internally motivated “why” for each goal pursuit.

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