Guilt, Ego, and Monthly Paychecks: Threats to Wealth Building

Adkins, Rick
July 2011
Journal of Financial Planning;Jul2011, Vol. 24 Issue 7, p26
Academic Journal
The article focuses on the three sources of challenges for financial planners in helping clients build and keep their wealth in the U.S. such as guilt, ego, and monthly paycheck mentality. It mentions that one of the tougher threats of advisers can be assisting a surviving spouse who has obtained a large insurance payout or legal settlement due to the death of a spouse. It suggests that advisers must establish better ways to help such clients so burdened by guilt wherein they are challenged to gather adequate wealth to attain reasonable long-term goals. Also, it considers false illusion of time and income as a factor in blowing off sound financial principles.


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