How People Natural Tendencies Keep Them From Reaching Financial Freedom with Kyle Christensen - Episode 292

Kyle Christensen and I explored the natural tendencies that can hinder our path to financial freedom and discussed how we can overcome them. Let's delve deeper into these natural tendencies and explore strategies to break free from their grasp. This explores several key points: Instant Gratification Fear of Risk Comfort with Familiarity Lack of Financial Education Social Pressure This practical insight on overcoming these tendencies offers suggestions for adopting healthier financial habits. He encourages us to prioritize financial education, embrace calculated risks, and shift our mindset toward long-term financial success. Tune in now! Highlights The decision to start the show on discussing principal-based planning was triggered by the financial noise circulating in the market. Debate regarding the real intentions of financial institutions with regards to their clients. Connection between the ability to read numbers (financial literacy) and the ability to identify the best investments. Discussion on how risk is associated with the level of knowledge one possesses about the subject. One more natural tendency people possess is to delegate responsibility rather than holding themselves accountable for their financial decisions. Disclosure about the business model of financial institutions and the importance of developing one's own investing strategy. The impracticality of creating 20 or 30 year plans. Discussion on 401Ks and the impossibility of knowing when you'll achieve financial freedom. Explanation of the velocity method and why financial institutions prefer it to compounding interest. Emphasizes on the need for people to engage and think systematically about their finances. Talks about the aim of their financial planning approach, striving to change the way financial planning is done. Links and Resources from this Episode https://www.practicalwealthadvisors.com https://www.practicalwealthsolutions.net/ Email Curtis for a free report - [email protected] Call his office - 610-622-3121 ERC Tax Credit - https://ercspecialists.com?fpr=curtis75 Schedule a call with Curtis: https://aptwithcurtis.as.me/Strategysession CashFlow Mapping: https://practicalwealth.cashflowmapping.com/lp/PWbudgetsstink Private Reserve Strategy: https://app.agent-crm.com/v2/preview/vWh4TyHnUBXdULimd82i Connect with Kyle Christensen [email protected] Check out this great book Principles Based Planning: https://amzn.to/3t9utDc https://www.linkedin.com/in/kyle-christensen-45788b3b Special Listener Gift Schedule a 15-Minute Call with Curtis: https://aptwithcurtis.as.me/Strategysession  Review, Subscribe and Share If you like what you hear please leave a review by clicking here Make sure you're subscribed to the podcast so you get the latest episodes. Click here to subscribe with Apple Podcasts Click here to subscribe with Spotify Click here to subscribe with RSS