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True Wealth – Your Financial DNA
G
enetic human DNA, specific to each of us,
include the feeling aspect when it comes to finances.
determines who we are as individuals.
Information related to childhood upbringing, early
Did you know that each of us also has a financial
lessons about money and possessions, role models
DNA that helps determine who we are financially?
and influencers all contribute to our financial DNA.
Understanding how and when your financial DNA
Then take into consideration the many transition
developed can give you powerful insights to why
periods we experience in our lives and I have
you view your finances the way that you do.
found there is a powerful connection between
Many years ago, I had the pleasure of meeting Hugh
our values and money during these transitions.
Massie, who was pioneering the concept of financial
Have you ever made a financial decision only to not realize the emotional satisfaction that you expected? Is it possible that a financial plan that fits your emotional make-up has a better chance of success than one that is comprised of a laundry list of assets, liabilities, activities, and things? If you have a better connection to your financial DNA, will you potentially make more fulfilling choices? Especially in 2020, circumstances and events have given us a lot of emotional “panic” decision moments. If you knew your own behavior bias, under pressure,
DNA. Simply put, his message was that everyone’s
might you make more thoughtful decisions?
financial tendencies are formed early on, by influencers
Understanding your financial DNA is the key to
in our life amidst our circumstances and experiences.
embracing your True Wealth. Your future will thank you.
As a result, many of our adult behaviors are the consequence of our childhood experiences, creating a guidance system for future decisions that shape our financial personality that impacts our financial decisions. The investment industry has primarily focused their efforts on gathering data on the analytical side of financial decision making with questionnaires that seek assets and liabilities related to personal goals. In my opinion, the industry has lagged behind when it comes to the discovery process, which should 28 LimitlessMagOnline.com | December 2020
Content in this material is for general information only and not intended to provide specificJeffrey advice orKarp, recommendations CLU®, for any individual. Securities and Advisory Services offered through LPL ChFC®, CASL® Financial, a Registered Investment Advisor, Member FINRA, SIPC.
founder of Karp Financial Strategies and is a registered representative of LPL Financial. More information and his blog, Permission GrantedSM can be found at www.karpfinancial.com.
