The Psychology of Money: Why Math Isn't Enough w/ Jake Timm

Episode 004: Jake Timm is the President of TEN Capital Wealth Advisors where his primary role is the design and implementation of each facet of the retirement and financial planning process.  In this conversation, Jake shares his journey into financial advising, emphasizing the importance of understanding behavioral finance and the emotional aspects of money management. He discusses common emotional traps people fall into, personal experiences that shaped his financial mindset, and the significance of effective communication in financial planning, especially for couples. Jake also highlights the importance of teaching children about money and the strategies for building and retaining wealth. Jake concludes with advice for those feeling overwhelmed by their financial situation, encouraging them to take small steps towards regaining control.Bio:  TEN Capital’s mission to deliver planning tools and technology in a manner that places each client’s specific goals and aspirations at the center of the process is what drives Jake Timm each day.Jake started his career in the financial services industry thirteen years ago and quickly discovered that finding solutions for clients that created confidence and reassurance was his calling. Although investment management is an integral part of that process, Jake found that focusing on each client’s broader financial picture and crafting solutions, to meet their long-term needs, both investment and otherwise, was his true passion.An Alumni of Florida State University, Jake studied Marketing and Economics after spending the formative years of his life on a small wheat farm in eastern Washington State. Growing up in a small farming town taught Jake the value of working hard and taking care of the people around you, the same values he brings to Financial Life Management.After spending the first part of his career in banking as a Corporate Trainer and Practice Management Consultant for a large regional bank out of Seattle and a Financial Advisor for a global investment firm, Jake decided it was time to come back to his roots in Eastern Washington.Jake joined TEN Capital at its inception in 2012. The firm was created to be independent, client focused and avoid the conflicts of interest that can all too often arise in the industry. In addition to TEN Capital, Jake is an active member in the community, while also serving in leadership positions with numerous non-profits and volunteer organizations. He calls Spokane his home and enjoys spending time with his lovely wife Jamie, daughter Nya, son CJ and his dog Hercules.If you want to learn more about Jake, you can find him at tencapital.com