Carl Richards – Rewiring Your Financial Mindset in the Age of Comparison | #602
Today’s guest is Carl Richards. Carl is a Certified Financial Planner, built and sold an investment firm, and hosts the podcast 50 Fires, which is backed by Chip and Joanna Gaines. He’s also the author of The Behavior Gap and The One-Page Financial Plan and his newest book is called Your Money: Reimaging Your Wealth with 101 Simple Sketches. In today’s episode, Carl discusses the emotional aspects of money and how our perceptions of wealth can be influenced by societal norms and personal experiences. He introduces concepts like the emotional balance sheet and the overnight test for investment decisions, emphasizing the need to align financial choices with personal goals rather than external pressures. The discussion also touches on the impact of news and social media on financial behavior.
Key Points
- Aligning your use of money with what truly matters to you is more important than simply choosing between money and life.
- Changing the default mindset via the "overnight test" can help you make clearer, more rational financial decisions.
- Cultivating an abundance mindset and learning to love what you already have can lead to greater contentment and fulfillment.
Follow Carl: Website; X; LinkedIn
Resources: Your Money: Reimagining Wealth in 101 Simple Sketches Carl's Podcast - 50 Fires The Wall Street Waltz: 90 Visual Perspectives, Illustrated Lessons from Financial Cycles and Trends Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence: Fully Revised and Updated for 2018
Chapters
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Transcript
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