Episode 2: Money & Investments: Friend or Foe? – The Psychology of Money
What was the motivation behind the show?
When I think about my earliest memory about money, it’s a pretty positive one. Dad wanted to help me be able to open my eyes underwater for swim class so he filled the tub with water, lined the bottom with coins, and told me I could keep what I saw. Pretty good deal!
Over the past 30 years I’ve worked with people who tell me they’re not good with math, or they’re uncomfortable with their understanding of money and investments. I believe that most of us would like to be ‘money smart’, but what you think and say to yourself about money has a huge impact on what shows up in your life. We all fear making financial mistakes.
Truth is, we all fear a lot of things, some we can’t do anything about, and others, unknowingly influencing our choices and actions. Chapman University has been conducting research on the fear of everyday Americans ‘Top 10 Fears in 2018’. Surprisingly, the top items weren’t public speaking, heights, spiders or snakes or even terrorism. Top of the list: corrupt government officials, followed by pollution, not having enough money, and fear of people I love becoming seriously ill or dying.
Financial literacy rarely seems important – until a time of crisis, when we’re asked to make important decisions affecting our futures – with whatever financial skills we have.
The weekly television series Money Matters with Jim Doyle was created in an effort to encourage Canadians to explore some of the financial issues we see clients wrestle with throughout their increasingly complex lives.
We invite you to tune in Thursday – 5pm – or Sunday – 7am on Joytv.
What is this show about?
On this episode, join me and my guests, UBC Vancouver School of Economics Professor Dr. Marina Adshade, Deborah Brakeley – Registered Clinic Counsellor, and Claire Sutton of Claire Sutton Consulting Inc. as we explore the emotional side of money.
Does dealing with money and investments raise your blood pressure? Do you feel financial shame around your lack of money knowledge, previous investment decisions – or lack of financial success? Financial anxiety is a monetary monster that haunts people across income levels, race and gender – you’re not alone! We’ll examine the significance of money anxiety and what money represents in terms of freedom, security, legacy, and responsibility.
What are we hoping will come out of this show?
In my experience, you have to plan the life you’d like to live. Life is too short to carry embarrassment or financial shame for your past choices. My guests and I would like to help you rediscover financial confidence in your future by enhancing your financial skills.
On our next show we’ll be talking about . . . ‘When Culture, Family & Money Collide”, premiering Thurs., Sept. 19 at 5pm PT and Sun., Sept. 22 at 7am PT.
Jim Doyle, Doyle & Associates Private Wealth Management, Investors Group Financial Services Inc.
This is a general source of information only. It is not intended to provide personalized tax, legal or investment advice, and is not intended as a solicitation to purchase securities. Jim Doyle is solely responsible for its content. For more information on this topic or any other financial matter, please contact an IG Wealth Management Consultant. Views of guest speakers may not be shared by IG Wealth Management.