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VIEW CONTRIBUTOR’S BIO
PETER MCGAHAN Chief Executive of Worldwide Financial Planning
SDGs
FINANCIAL WELLBEING
HUMANITY’S EMOTIONAL, ETHICAL AND FINANCIAL TURNING POINT
There is no denying that the last 14 months has been an experience of a lifetime for many! We can dwell on it, or look for the opportunities to make this chapter a mental, emotional and ethical turning point for humanity. It’s our call. In the future we can see that this planet, thirsty for change, took this opportunity by just stopping and paying attention to the countless messages that have existed for some time about life, its balance and humanity. In a normal day, we say 16,000 words. How many more are thought, and how many are talked at us in noisy, noisy data? Financial planning is often talked about in terms of numbers, reducing debt, maximising more wealth. Is that a disconnect, a disconnect that means we never reach contentment?
Understanding yourself and what matters is the first and foremost skill in financial planning. Lockdowns have had a catastrophic impact on our nine emotional needs. Psychology shows that if just one of these nine needs are not being met, we can suffer significant distress and anxiety. Most importantly, when they are not being met, we turn to unhealthy solutions: Alcohol, drugs, spending for that one extra pair of shoes are one of the many, most of which are followed by guilt and debt, which of course creates a negative downward feedback loop.
