All of us have a history with money. We grow up with too little or too much — or fall under the sway of parents or others who influence our attitude about saving and spending. As we age, money often becomes an indicator of our emotional well-being.
It’s fine to think about money frequently, enjoying its benefits and squeezing value from it. But it’s not healthy to fret about it constantly and let the “I-don’t-have-enough” worry eat away at you. Even some rich people express irrational fear of going penniless. In an honest moment, a financial adviser will admit that chronic worrywarts are high-maintenance clients. They require more hand-holding. What’s worse, they may not listen to reason.
A little empathy goes a long way. Rather than dread these clients, savvy advisers ask gentle questions in an effort to uncover deeper concerns, motivations and memories.
“I wouldn’t say the fear of