This is Rob Townsend and thanks for being here. Money. Just the word creates emotion — usually feelings that we would categorize as unpleasant or negative. Today, we want a fresh page, a new start; to be calm. So take a breath. Let your shoulders settle. It helps. To gather our thoughts, check our emotions, and approach this important subject with a clear mind.  

Try contemplating the imprint money has had on your life’s narrative. Think back to when you were young. How did money first show up in your life? Through a 50-year study economists found that people’s lifetime financial decisions were heavily anchored to the experiences from early adult life. 

In those formative year did you feel rich, poor, secure, or worried? Did you go through any major economic events that may have changed your world view? It’s worth considering the historic experiences that might be shaping your view of money and investing today. 

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The impact of money on our life’s story is inevitable. It takes thought and effort to make it a positive one. Money is an old invention — a tool invented to create trust between strangers. Its sole purpose? To create ease. But, so often, money becomes destructive. The servant becomes the master. It complicates experiences, strains relationships, and damages trust. We all have some amount of money, but who do you know that uses money well? I can assure you that there are many rich people, who are deeply unhappy.

What state of mind would you like to have around money? Think principles like being generous, relaxed, content, rather than specifics of things you want to buy. Play with it.

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“It’s folly to think it is the amount of money and not the state of mind that matters,” Seneca the great Roman philosopher said that almost 2,000 years ago. What relationship with money will you create? With that in mind, as you move forward with whatever lies ahead remember wealth is a state of mind, not a number.

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_{The ideas in these episodes are not mine alone and are based on my learning of time-tested principles.  I am grateful for the work that has been done by people like Naval Ravikant, Eckhart Tolle, James Clear, Morgan Housel, Nick Maggiulli, Brian Portnoy, Derek Sivers, Carl Richards, Cameron Passmore, Benjamin Felix, Michael Kitces, and many others.}

‍_{Morgan Housel – The Psychology of Money.
U. Malmendier, S. Nagel, “Depression Babies: Do Macroeconomic Experiences Affect Risk-Taking” (August 2007).}

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_{This content is for informational purposes only and should not be construed as advice or recommendation. Past performance does not guarantee future results. Please consult a licensed financial professional before making any investment decisions.}