Does your level of wealth ultimately determine how you think and feel about money?
A behavioral economist recently wanted to understand what characteristics and circumstances help improve our financial wellbeing. In this episode, Kevin Mahoney, CFP®, who specializes in financial planning for Millennials, shares that those with higher incomes have more positive financial emotions. But, as you may have guessed, that’s not the important finding here.
Rather, Kevin will explain why financial confidence appears to be more important to financial wellbeing than income. As Sarah Newcomb, the economist, notes, “When it comes to the emotional side of financial health, income matters. But the beliefs we hold about money and our own ability to manage it matter more. A person can have a high income, but if their financial mindset is weak, they may still have a very low quality of life with respect to their money.”
Welcome to Financially Well, the finance podcast for Millennials.
Stuck in Traffic
Searching for the Horizon
Why Millennials May Think About Money Differently Than Our Parents
Do Millennials Need to Worry About a Retirement Magic Number Yet?
How You Can Overcome a Hesitation to Use Your Savings
Are You Earning Enough Memories From Your Money?
Will a Home Bias in Investing Limit Your Potential Wealth?
3 Steps Millennials with Variable Income Can Take to Invest Consistently
Your Investment Time Horizon: The Key to Saving More Money?
Will Money Management in Retirement Be Easier Than You've Heard?
Why You May Not Need Fintech Apps for Investing on Your Phone
The Most Underappreciated Reasons to Ask for a Raise
Should You Wait to Buy a House if You Have a Low Mortgage Rate?
What Are the Benefits of Buy Now, Pay Later for Millennials?
The 5 Best Books for Millennials About Money
What to Do With an Inheritance Amid the "Great Millennial Wealth Transfer"
Why Isn’t Your Qualifying Employer Promoting PSLF News?
Second Home or Starter Home: What Should Millennials Buy First?
An Investment Quiz for Millennials: 11 Concepts You Should Know
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