The current global pandemic and resulting economic uncertainly have had a profound effect on our sense of safety and control. As individuals, we are looking for ways to protect ourselves and our families, and as financial professionals and business owners, we are looking for ways to support our coworkers and guide our clients. The […]
Blog
Redefining Retirement
The Transamerica Center for Retirement Studies conducted a survey to explore the fundamental question, “What does retirement mean to you?” In selecting from a series of words associated with retirement, Baby Boomer, Generation X, and Millennial respondents alike cited “freedom,” “enjoyment,” and “stress-free” as their top picks. However, despite this shared vision of retirement, the […]
Self-Efficacy – The Key to Financial Well-Being
In his long career at Stanford University, world renowned psychologist Albert Bandura made a tremendous contribution to our understanding of human behavior and motivation. One of his main areas of focus was the concept of self-efficacy—an individual’s belief in their own ability to succeed in accomplishing a specific goal or task. In fact, Bandura’s research […]
What is the Intention of Your Discovery Process?
One of the most challenging tasks for a financial planner is designing an effective discovery process that truly engages their clients’ hearts and minds, while also providing valuable insights about each person’s frame of reference. At Money Quotient, we believe the place to start is by recognizing that each client operates with two minds: the […]
Gratitude
In the midst of the hustle and bustle of preparing for the holidays, we are also reminded how important it is to pause and reflect on our many blessings. (A growing body of research indicates this practice has a tremendous influence on the quality of our lives—for an example, click here) As I reflect on […]
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 […]
Thank you, Ed Jacobson
I was saddened to hear the news that Edward A. Jacobson, Ph.D.—my friend and colleague—passed away earlier this month. I will be forever grateful to him for his wise counsel and loyal support of the work we do at Money Quotient. In addition, he served as a beacon for a new way of thinking and […]
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 […]
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 […]
Know Thy Client
In our work with financial planners, we frequently make the point that a successful practice is built on knowing and understanding their clients. We also emphasize that this objective can only be met through adopting the intention of getting in touch with each client’s unique frame of reference. The reason this is so important is that […]