You must understand the financial consequences and implications of the choices before you.
It’s our job to provide you with well-balanced portfolios and cash flow projections that account for taxes, adjusts for inflation, and varies spending over time with a range of investment outcomes. Additionally, it’s our job to help you assess legacy issues and how much you can leave your children or the causes you believe in.
But here’s the rub.
Having an intellectual understanding of what you can or can’t afford may often have surprisingly little impact on your decisions. Why? Because we are emotional beings and money is emotional.
What are some examples of where these emotions and stressors show up in financial decision-making?