In this episode, David Lenok, senior editor at WealthManagement.com, sits down with Rick Kahler, president of Kahler Financial Group, as they dive into the subconscious mind around money.
Today’s celebrity example is Warren Buffett and his interesting relationship with money. Buffett, once the most wealthy man in the world, now sits in seventh place. It was Buffett’s relationship with money that got him here—the idea that the wealthy have the duty to help fix the ills of society. We use Buffett to understand the common money scripts and how advisors should be identifying them within their clients.
- What exactly a money script is and how they are formed;
- The four main categories money scripts fall into;
- How advisors could identify their client’s beliefs and behaviors around money; and
- How to address and change negative money scripts