Modern Financial Wellness

Hi everyone, Jim Grace here, host of Modern Financial Wellness. In today’s episode, I sit down with a familiar voice for long-time listeners John Donlon of Gold Coast Mortgage in Beverly, Massachusetts. If you’ve been thinking about buying your first home, debating whether to keep renting, or just curious about how today’s housing market is evolving, this episode is packed with practical wisdom.The big question we're exploring today is one that’s increasingly top-of-mind for many: Is homeownership still attainable and affordable, or is it drifting out of reach? The idea of owning a home has long been central to the American Dream, but with rising prices and higher interest rates, people are rethinking what’s possible. We dig into how market dynamics including the role of private equity are impacting both buying and renting, the personal decision-making process around homeownership, and strategies for making the financial side of buying work.5 Key TakeawaysHomeownership Has Always Been Scary But the Challenges Aren’t Entirely New: The financial commitment of a mortgage is daunting and relentless, but history shows that previous generations faced similar pressures, even if the numbers were smaller. The “scariness” isn’t new it’s just that the specifics have changed.Private Equity Is Changing the Housing Game: Companies like BlackRock and other investment groups have become major players in the rental market, driving up rents and introducing sophisticated pricing algorithms. As a result, both renting and buying are becoming more competitive and expensive.The Aha Moment Matters More Than the Math: Most people move from renting to owning not just because of financial logic, but due to a psychological or lifestyle “aha” moment. Whether it’s wanting more space, escaping a noisy neighbor, or seeking a better environment for a family, the emotional reasons often outweigh the pure financial calculations.Don’t Anchor Your Decision Solely to Interest Rates: Waiting for rates to drop or home prices to cool isn’t a foolproof strategy. Both John and I emphasize that timing the market is impossible and even the experts get it wrong. If you’re ready for homeownership for the right reasons, focus on affordability—not speculation.Affordability Is Personal—and Requires Planning and Sacrifice: What a bank says you can afford and what feels comfortable may differ. Homeownership typically requires sacrifices, whether it’s a tighter budget in the early years or asking loved ones for help with a down payment. Locking in a fixed mortgage shields you from inflation, and building equity makes your home the cornerstone of financial net worth for many.Homeownership is a journey, not a transaction. It’s about making the right decision for you, at the right time, for the right reasons—and accepting that it will never be perfect. There’s value in getting on the “homeownership train” when your personal clock says it’s time, not just when market conditions might look ideal.If you want to dig deeper, check out Gold Coast’s Tenants Lounge for more nerdy details on the rent-to-own journey, and be sure to listen to our previous episodes, especially if you want to explore the emotional side of buying a home.Thanks for joining us for another episode of Modern Financial Wellness. Don’t forget to subscribe to the newsletter at modernfinancialwellness.com, and stay tuned for more insights on making your money work for...

Hey everyone, it’s Jim Grace, your host, and I’m excited to welcome you back to the Modern Financial Wellness podcast. In today’s episode, we’re doing something a little different—instead of our usual deep dive into a specific financial topic or professional’s life story, we’re making a big announcement: Modern Financial Wellness is officially not just a podcast anymore, but now a flat-fee financial planning firm! It’s a milestone for both me personally and for all of you who want approachable, comprehensive, and emotionally intelligent financial guidance.Joining me is my friend and longtime collaborator, Ashley Quamme. If you’ve listened to past episodes, you may have heard me introduce Ashley as a financial therapist. Today, I’m thrilled to share that Ashley is stepping into the role of our outsourced Chief Behavioral Officer—an integral new resource in our practice, bringing decades of experience in marriage and family therapy and helping connect emotional and behavioral insights with financial planning.We started with the exciting news about the firm and transitioned into Ashley’s journey from practicing marriage and family therapy to focusing primarily on financial therapy—an emerging field that's still relatively unknown but critically important. Ashley broke down what financial therapy actually is, how it differs from traditional mental health therapy, and what it means to have a behavioral specialist on your financial team. We also got practical, talking through how couples (including both Ashley and myself) do annual planning “life meetings,” reflecting not just on finances but overall values, family stages, and priorities. We closed out with a discussion about how to approach New Year’s resolutions, or better yet, use temporal landmarks (like the start of the year, birthdays, or school semesters) to set meaningful, realistic goals and intentions for the year ahead.5 Key Takeaways from This Conversation:Financial Therapy Bridges the Emotional GapMost people aren’t aware that financial therapy exists, but it’s all about understanding why you think, feel, and behave around money the way you do. It’s less about “fixing the numbers,” and more about uncovering mindsets, beliefs, and patterns that shape financial decision-making.Financial Planning Is NOT Financial TherapyThere is a clear line between what we offer as financial planners and what Ashley would do as a clinical therapist. Our work focuses on understanding and coaching financial behaviors, not treating diagnoses or healing past trauma. Sometimes, recognizing when someone would benefit from clinical support is vital—and Ashley helps triage and connect clients to those resources when needed.Annual "Life Meetings" Make a DifferenceAshley and her husband, as well as my wife and I, both hold yearly planning sessions to look not just at finances, but at vacations, professional goals, time management, and even the developmental stages of our children. Pen-to-paper planning and revisiting these notes is a powerful tool in clarifying priorities and aligning as a couple or family.Use Temporal Landmarks to Refresh GoalsNew Year’s isn’t the only time for a “fresh start.” Consider using other meaningful dates—birthdays,...

Welcome back to Modern Financial Wellness! In this episode, we tackle one of the biggest pain points for couples everywhere: how to work as a team around money. Managing finances together isn’t just about budgeting and spreadsheets—it’s about trust, fairness, teamwork, and building a life that supports both partners’ dreams. Today’s conversation dives deep into the emotional and practical sides of money and relationships, with plenty of stories and actionable advice for anyone sharing their financial life with someone else.I’m joined by the dynamic husband-wife team, Douglas Boneparth and Heather Boneparth of Bona Fide Wealth. Douglas, a nationally recognized financial advisor based in New York City, frequently shares his insights in The New York Times, The Wall Street Journal, and CNBC. Heather, after a decade in law and insurance, now directs business and legal affairs at their firm and writes about money, relationships, and modern family life for outlets like CNBC and The Skimm. They’re also the co-authors of the fantastic new book Money Together, which offers couples a compassionate roadmap for building solid financial foundations as a team.Episode Overview: In this episode, we talk about:Why so many couples have the wrong money conversations—and what to focus on insteadThe roles of fairness, trust, and teamwork in a healthy financial partnershipPower dynamics, especially when one partner is more financially savvy or earns moreReal stories from Douglas Boneparth and Heather Boneparth's marriage and experience working with couples (including some of my own as a financial planner!)Compromise, contribution, and redefining roles as careers and family life evolveWhy time is just as valuable as money—and should be part of the financial conversationHow to start better money conversations with your partner, with helpful questions to guide the way5 Key Takeaways:Healthy Money Conversations Start With Self-Awareness and Empathy.Heather and Douglas emphasize that it's crucial to understand your own background and beliefs about money before you can communicate effectively with your partner. Knowing each other’s stories—the “why” behind the numbers—builds empathy and prevents misunderstandings.Power Dynamics and Confidence Matter.Often, one partner feels less confident handling finances, especially when the other is a financial expert or higher earner. Heather shares how easy it is for the less-involved partner to lose confidence and why each person still needs ownership and awareness of the family’s finances, regardless of who does the technical work.Contributions Aren’t Just About Income.Douglas admits falling into the trap of measuring his household contribution by money earned, but both learned—and model for clients—that taking on the invisible load (managing schedules, carpool, emotional labor, etc.) is equally valuable. Healthy partnerships recognize time and effort as key currencies.Your Money System Must Evolve With Your Life.What worked for you as a couple at one stage may not work later. Heather shares her story of shifting from a stable corporate job to joining the family firm and how openly renegotiating roles and responsibilities can save a relationship from resentment as circumstances change.Regular, Compassionate Conversations Are a Game-Changer.The value of Money Together is in the questions it prompts, not a one-size-fits-all solution. Start small: discuss values, dreams, and contributions. The book’s questions at the end of each chapter provide a jumping-off point for honest discussions, opening the door to greater fairness, trust, and progress together.Resources...

Hey everyone, welcome back to Modern Financial Wellness! I’m Jim Grace, your host, and I’m excited for this week’s episode, where we’re diving deep into the human side of retirement. Retirement is a huge milestone, but as many are beginning to realize, it’s about so much more than just making the numbers work. Today, we’ll unpack the emotional, psychological, and deeply personal challenges—and opportunities—that this major transition brings.My guest this episode is Dan Haylett, retirement coach, financial planner, keynote speaker, creator of the “Humans vs Retirement” platform, and now an author! Dan’s work stands out for exploring not just the math behind retirement, but the untold human journey at its core. His new book, The Retirement You Didn’t See Coming: A Guide to the Human Side of Retirement Nobody Warns You About, inspired this conversation—and I can’t recommend it enough.In our discussion, Dan shares what inspired him to write his book, why the traditional “retirement is the goal” narrative misses the point, and how true fulfillment comes from addressing five essential pillars beyond the financial. We debunk common retirement myths, highlight the complexity of the emotional transition, and talk practical strategies so you (or your loved ones) can truly thrive in this next chapter—not just survive.5 Key TakeawaysRetirement is a Human Issue, Not Just a Math ProblemNumbers and financial security are important, but they don’t guarantee happiness, safety, or meaning in retirement. Most real challenges—and opportunities—are personal, emotional, and deeply human.The Big Myths Need BustingMost of us carry ingrained narratives that “retirement is the goal” or that “the numbers will make us feel safe.” In reality, many arrive with enough money but feel lost, anxious, or directionless.Expect an Emotional RollercoasterRetirement is not a straight line. There’s a reinvention curve, including excitement, shock, doubt, and ultimately, flourishing—if you’re open to doing the human work. Everyone will experience ups and downs, and that’s normal.The Five Pillars to Thriving: Purpose, Identity, Relationships, Structure, Well-beingDon’t wait until you retire to think about these. Start now! Reflect, do the exercises, talk with loved ones, and intentionally reinvent these pillars to create a meaningful and joyful life.Retirement is a Team Sport—Communication MattersEspecially for couples, talk early and openly about your individual and shared visions for this chapter. Expectations, purpose, timelines, and how you’ll spend your days may differ—address these before you leap.If you want to move beyond the spreadsheets and bulletproof your sense of meaning in retirement, I highly recommend Dan Haylett’s new book, The Retirement You Didn’t See Coming. It’s practical, readable, and packed with exercises to help you design the life you want.Thanks so much for tuning in! If you enjoyed the episode, please subscribe and check out Dan’s book, podcast, and newsletter—the links are in the show description.Until next time—here’s to your financial and human wellness!

Welcome back to Modern Financial Wellness! In this episode, we dive into a topic that resonates with so many of us—how to navigate the overwhelming demands of the fall season and maintain productivity (and sanity!) as we approach the holidays and the end of the year. If you’ve ever felt a wave of anxiety triggered by the sight of Christmas decorations in October or the reminder that “Q4” is flying by, you’re not alone.To help us work through these feelings and get practical strategies for this time of year, I was thrilled to welcome back Sarah Reiff-Hekking, founder of True Focus Coaching. Sarah’s expertise in time management, productivity, and coaching for busy professionals is a perfect fit for the “fall freakout” that so many of us experience.We started the conversation with a real-life example—my own mini-panic at seeing Christmas decorations in a store before Halloween—and explored what triggers this seasonal overwhelm. Sarah broke down the unique pressures of fall, from shifting routines as kids go back to school, to the barrage of holidays and year-end work deadlines, and the added layer of economic and political uncertainty.Together, we discussed how to bring ourselves back to the present moment, clarify what’s truly important, and create space for both productivity and meaningful connection. We touched on saying “no,” managing competing demands and external expectations, and setting up flexible routines so the holidays don’t just become one giant stress-fest.Sarah shared actionable strategies—from mindful breathing to practical time blocking—to help listeners stay grounded, focused, and resilient. We wrapped up with advice on tuning out the social media “noise” and focusing on real, personal priorities.Key TakeawaysName the “Fall Freakout” and Normalize ItThe sense of stress and overwhelm in October and November isn’t just you—it’s a confluence of shifting routines, holiday expectations, and mounting year-end pressure. Acknowledging this helps us respond intentionally rather than reactively.Return to the Present MomentWhen anxiety kicks in, the first step is to physically bring yourself back—to notice your breath, your feet on the ground, and where you are right now. Mindful grounding calms your nervous system and helps you regain focus.Clarify What’s Meaningful and ImportantGet clear on your most meaningful goals, both professionally and personally. If everything feels important, dig deeper and ask yourself: “Why do I care about this?” Prioritize your top 2-3 “big rocks” and let the rest go. Remember, not everything makes your cut.Be Strategic About What You Say Yes (and No) ToYou can’t (and shouldn’t!) do it all. Proactively decide how many commitments you’ll take on each week, leave room for spontaneity if you value it, and practice pausing before you say yes. Planning to delay a task isn’t procrastination if it’s intentional and fits your bigger plan.Manage Your Environment and External InfluencesSocial media and retail environments can trigger “shoulds” and inject noisy expectations. Turn down the external pressure and lean into what’s genuinely important for you and your family. Don’t let comparison steal your joy—or your time.If this episode resonated with you and you’re feeling ready for support, check out Sarah Reiff-Hekking at truefocuscoaching.com and connect with her on LinkedIn. She offers free strategy sessions designed to help you map your next steps and find clarity in your own life—no cost, just real advice.Thanks for listening to Modern Financial Wellness. If you enjoyed this episode, subscribe and share it with friends who might be experiencing their own ‘fall...

Welcome back to Modern Financial Wellness! I’m your host, Jim Grace, and I’m excited to share today’s episode—a deep dive into one of the most complex and sometimes overlooked aspects of couples and money: financial infidelity. If you’ve ever wondered what counts as a financial secret, how keeping money habits under wraps can impact a relationship, or how big the gap is between you and your partner’s approach to hidden spending, you won’t want to miss this episode.Our guest today is a returning favorite, Dr. Jenny Olson, marketing professor at Indiana University's Kelley School of Business. If you caught our last conversation, you’ll remember her research on the benefits of merging finances and the factors that help couples create financial harmony. This time, she’s back to unpack her latest study, “Financial Infidelity Asymmetry Predicts Couples’ Financial and Relationship Well-Being,” and the results might surprise you.5 Key Takeaways from the EpisodeFinancial Infidelity Is More Than Just Hiding PurchasesDr. Jenny Olson defines financial infidelity as intentionally doing something with money you know your partner wouldn’t approve of, and hiding it. It’s not about every little purchase, but the concealment of actions you expect would cause conflict.Asymmetry Predicts Relationship HealthThe greater the gap between partners’ tendencies toward financial infidelity, the worse off the couple is—leading to less money, lower financial well-being, and decreased relationship satisfaction. Aligning values and habits is more important than just being thrifty.Differences Aren’t Always Destructive—Unless They’re SecretivePartners can have very different approaches to money (tightwad vs. spendthrift, saver vs. spender), but when these differences are out in the open, couples can thrive. The problem comes when one or both partners start hiding financial behavior.Transparency and Planned Conversations Are CrucialTouch base with your partner regularly about money—don’t just spring it on them when tensions are high. Scheduling money talks and setting clear parameters for what needs to be discussed helps keep communication healthy and nonjudgmental.Joint Mindset Beats ScorekeepingHealthy couples focus on “how can we work together?” instead of “who spent more?” Moving away from tit-for-tat or exchange norms toward a communal approach—“we’re on the same team”—makes it easier to address challenges and prevent financial secrets.Resources MentionedDr.Jenny Olson’s website: http://www.jennyginolson.com/“Tightwads and Spendthrifts” by Scott Rick“Money Together” by the BoneparthsThanks for listening! If you enjoyed this episode or you’re navigating finance in your own relationship, share it with your partner or anyone who might benefit. And remember, nothing you hear on the podcast is a substitute for personal financial advice—always consult your own advisors!Catch us next time for more on financial wellness, or check out Dr. Jenny Olson’s research for more insights.

Welcome back to Modern Financial Wellness, the podcast dedicated to helping you cultivate a healthier, more empowered relationship with your money. I’m Jim Grace, your host, and today’s episode is an essential listen for anyone interested in understanding how our minds – specifically, our executive functioning skills and neurodiverse traits like ADHD – affect our day-to-day financial behaviors and overall financial well-being.If you’ve ever struggled with procrastination, felt overwhelmed managing your finances, or found it hard to translate long-term goals into short-term action, you’re in the right place. Whether or not you have a formal ADHD diagnosis, today’s discussion is full of insights and practical tips you can apply immediately to your financial life.5 Key Takeaways1. Executive Functioning Skills Are Essential for Financial Health Even if you don’t have ADHD, understanding executive functions like organizing, prioritizing, working memory, cognitive flexibility, and goal setting is crucial. These skills help us clarify our financial goals, adapt to challenges, and make thoughtful decisions amidst life's distractions.2. Procrastination Is Emotional, Not Just Logistical Laurel highlighted that procrastination is often rooted in emotional management rather than pure time management. By pausing to identify what's holding you back emotionally – fear, anxiety, perfectionism – you can better address procrastination in your financial life.3. The ERAS Framework Provides a Practical Path Forward Laurel introduced the ERAS model (Expectation, Reality, Adjust, Start), which helps you process emotional reactions and create actionable steps. Whether you’re feeling stuck by financial comparisons or overwhelmed by vague goals, working through ERAS builds clarity and momentum.4. Social Value and Emotional Responses Influence Financial Choices ADHD and executive functioning challenges can make us especially sensitive to social dynamics, like people-pleasing and comparison. Recognizing how social acceptance or rejection influences your financial habits can help you redirect your energy towards more meaningful, self-affirming goals.5. Start Small, Focus on Behavior, and Build Agency Big changes begin with small steps. Focusing on one concrete behavior at a time – and understanding why it matters to you – lays a foundation for lasting financial wellness. Agency and clarity, not just freedom or abundance, are at the heart of true financial well-being.Additional ResourcesThroughout the show, Laurel and I referenced a host of fantastic resources for further learning, including:Books:Seven and a Half Lessons About the Brain by Lisa Feldman BarrettHow Emotions Are Made by Lisa Feldman BarrettEmotional Agility by Susan DavidAtomic Habits by James ClearExperts:Tim Pichel (procrastination research)Mark Brackett (Yale Center for Emotional Intelligence)Daniel Pink (decision-making and behavior change)Ethan Kross (Chatter, Shift)You can find links to all these resources (and more) on modernfinancialwellness.com, both on the episode post and the dedicated resources tab.

Welcome to another episode of Modern Financial Wellness! I’m your host, Jim Grace, and I couldn’t be more excited about this conversation. In this episode, I sat down with Matt Morizio, founder of Reconstructing Wealth—a financial advisor with a distinctive focus not just on dollars and cents, but on truly reconstructing our relationships with money.5 Key Takeaways from This Episode:Your Relationship with Money Is Inherited—But Not Irrevocable: Matt’s story highlights how our earliest experiences shape how we think, feel, and act around money. But with awareness and intention, we can “break the chains” and start a new narrative for future generations.Scarcity Versus Abundance Mindset: Growing up with financial fear can drive lifelong habits of hoarding and scarcity. Learning to see money as a tool, rather than an object of fear or idolization, is crucial—and sometimes, that transformation comes from acts of generosity, not just earning more.Giving Is a Game Changer: Matt’s practice of disciplined, intentional giving—even when finances were tight—was the catalyst that rewired his emotional relationship with money. Through giving, he moved out of fear and into a more abundant, peaceful mindset.Emotional Intelligence Is as Important as Technical Knowledge in Financial Planning: Clients rarely come to an advisor for “money mindset work.” Yet, guiding clients to reflect on their values, money stories, and priorities often has a bigger impact than any stock pick or tax strategy. Sometimes, permission and empathetic guidance are what people need most.Live Your Values, Not Just Your Numbers: The best financial plan is one that supports a meaningful life—not just a big bank account. Matt’s approach is about marrying technical planning with what matters most to each individual: family, purpose, generosity, or unique life goals.Mentioned Resources & How to Connect:Matt’s Free Video Course: DM Matt on Instagram @mattmorizio for a free link.Books:Think and Grow Rich by Napoleon HillHappy Pocket Full of Money by David Cameron GikandiWebsite: reconstructingwealth.com (check out the unique generosity tracker!)Follow the Podcast: ModernFinancialWellness.comThis episode is perfect for anyone curious about the deep-rooted stories we all carry about money and how to break out of default patterns to live a life of purpose, impact, and freedom.If you enjoyed this conversation or want to dig deeper, don’t forget to subscribe, leave a review, and check out our growing library of resources. Thank you for listening—and remember, financial wellness is about so much more than the numbers!

Welcome back to another episode of Modern Financial Wellness. I’m your host, Jim Grace, and today, we’re exploring an incredibly important, nuanced topic—how grief and loss, particularly widowhood, impact financial well-being. This is a subject that’s both deeply personal and highly relevant to anyone supporting loved ones through life’s most challenging transitions.Joining me for this powerful conversation is Paula Harris, co-founder of WH Cornerstone Investments. Paula brings a remarkable, holistic approach to financial planning, blending her human resources background, four decades of experience in the industry, and an unwavering commitment to guiding midlife widowed women. Paula describes herself as a “dream architect,” an accomplished cheese maker and yogi, a TEDx speaker, and the author of Rise Up: A Widow’s Journal and Rise Up: Grief Journal. Her practice, deeply rooted in “curveball life planning,” is all about helping clients—especially widows—find financial peace and personal strength after loss.5 Key TakeawaysGrief is a Transition, Not a Transaction: Widowhood is not a box to check or a list to complete. It radically alters a person’s life, and society’s urge to “move on” too quickly can be hurtful. Recognize that your client, friend, or family member is fundamentally changed and needs time, space, and support.Meet People Where They Are—Emotionally and Financially: Paula emphasizes the importance of tuning into where someone is on their grief journey, whether they’re overwhelmed and can’t face paperwork, or eager to take action to feel in control. There’s no “right” way to grieve—advisors and supporters need to be flexible and compassionate.Immediate Financial Needs Come First (“Financial Triage”): In the initial aftermath of loss, focus on what’s urgent—paying for funerals, accessing cash, stopping predatory sales pitches. Delay major financial decisions when possible and give people time before making permanent changes.Support, Community, and Connection Are Essential: Isolation worsens grief. Paula highlights organizations like Modern Widows Club and Wings for Widows that offer connection and resources. Even simple community events, handwritten notes, or encouragement to join widow support groups can have a profound impact.Review and Update Financial Documents and Beneficiaries Quickly: Getting estate plans, insurance beneficiaries, and account titles updated is critical after a loss. Outdated or incorrect paperwork can have devastating, irreversible effects. Be proactive and encourage widows (and widowers) to seek trustworthy, fiduciary advice—especially as some financial “professionals” may have hidden agendas.Resources and Further ReadingWH Cornerstone Investments – Widow’s Resource PageModern Widows ClubWings for Widows (pro bono financial mentorship)Rise Up: A Widow’s Journal and Rise Up: Grief Journal by Paula HarrisTEDx Talk: “Low Tech Love – The Power of the Handwritten Note” by Paula HarrisFinancial well-being, especially after loss, isn’t just about having enough money. It’s about creating the freedom, support, and opportunities to rebuild your life—and knowing you’re not alone on that path. I hope these insights and resources help you support your clients, friends, or loved ones with even more compassion and actionable guidance.If you found this conversation helpful, please share, subscribe, and check out our full archive at modernfinancialwellness.com—and remember to take care of yourself and those around you.Until...

Welcome back to Modern Financial Wellness! I’m your host, Jim Grace. In today’s episode, I’m joined by a returning favorite: Dr. Christine Hargrove (she/her). If you’ve listened before, you might remember her as Christine Hargrove during our previous conversation on couples, money, and ADHD. I’m thrilled to welcome her back as Dr. Hargrove, and even more excited that, to this day, her previous appearance is our most-downloaded and most-shared episode ever.Today, we're tapping into her latest research about a topic that comes up in so many of our households, relationships, and financial lives: division of financial responsibilities between partners and the stress it brings. Specifically, we’re discussing her new study, “Breadwinning and Bean Counting: Exploring Perceived Couple Financial Stress Allocation in a Clinical Sample.” If you live with a partner, you’ll want to hear this.5 Key Takeaways“Bean Counting” Carries the Heaviest Stress Load. In couples, the partner who manages the day-to-day finances of the “bean counter” typically feels a larger share of the couple’s overall financial stress. Unlike the breadwinner role, which is less associated with this shared stress, the bean counter’s close, constant engagement with the household money leads to a stronger sense of responsibility and, often, anxiety.Perceptions of Financial Stress Matter as Much as Reality. Whether or not the numbers reflect a perfect 50/50 split, financial stress is based largely on what each partner perceives. If the bean counter feels like the split is 70/30 in their direction but the breadwinner thinks it’s 50/50, that disconnect is fertile ground for resentment, poor communication, or conflict.Clarity and Communication Are Essential and Often Missing. Many couples default into roles without ever truly defining them. Sitting down to intentionally name who does what, what each role entails, and what could go wrong if things slip up is a critical first step to ensuring satisfaction and avoiding feelings of being taken for granted.Transparency is a Powerful Antidote to Stress and Resentment. One of the quickest routes to reducing couple financial stress is simple: shared transparency over the numbers, roles, and goals. Many clients immediately feel relief when they can see the whole picture sometimes even before making any “fixes.” Avoid judgment, start with awareness, and let solutions flow from honest data.Gender Roles and Power Dynamics Can Compound Stress Especially for Women. Christine’s research and clinical experience repeatedly show that women who are the primary “bean counters” often feel especially stuck, stressed, and underappreciated, particularly when they don’t have equal power over big decisions. Couples need to acknowledge these dynamics, avoid defaulting into traditional patterns, and have real conversations about fairness, workload, and what everyone actually wants.Resources MentionedThe Love and Money Center at the University of Georgia (outreach, clinical services, and research on couples and money)Financial Therapy Association (directory for professionals and resources)Ramit Sethi’s “Money for Couples” (practical frameworks for couples with joint, separate, or hybrid finances)Monarch Money app, and other budgeting tools for transparency and shared financial visibilityI want to give a big thank you to Dr. Christine Hargrove for sharing her insights, research, and wisdom with us once again. If this conversation resonated with you or you want to learn more, check out modernfinancialwellness.com for resources, links, and info on how to reach Christine and the Love and Money Center.If you found this episode helpful, don’t forget to subscribe. Thanks for tuning in and as...

Hello everyone, Jim Grace here, host of Modern Financial Wellness. I’m excited to share the latest episode, which dives deep into the real story behind financial wellness, the power of education, and how changing your money mindset can truly transform lives and workplaces.In this episode, we go beyond the nuts and bolts of budgeting and saving. Today’s conversation centers on financial literacy as the critical foundation for achieving true financial well-being from breaking out of generational cycles and learning practical strategies, to transforming workplace cultures and empowering underserved communities. The heart of our discussion: how understanding our relationship with money and empowering others to do the same can change trajectories for individuals, families, and businesses alike.Joining me is Irma Neal, an incredible leader and changemaker. Irma is the founder of Onyx Rising, a change management and financial literacy firm specializing in DEI and leadership development. As a former deputy mayor of Indianapolis and director of human services, plus a certified financial coach and author of “Chaos Insights to Lead through the Storm,” Irma brings decades of wisdom and personal experience to the table. Her own journey from growing up in poverty to becoming a financial educator and advocate truly inspires.5 Key Takeaways1. Your Money Mindset Starts Early but It Can Change.Irma’s childhood experiences living in poverty and watching her parents’ approach to credit set early patterns, but her determination and curiosity led her to seek a different path. She began saving her lunch money as a teen and carried those habits throughout her life.2. Money Conversations Are Relationship Conversations.Irma and her late husband navigated the classic saver/spender dynamic, highlighting how important it is to talk openly and honestly about money with your partner ideally before tying the knot. Communication, compromise, and transparency are crucial.3. Employer-Sponsored Financial Education is Life-Changing.A company-paid session with a certified financial advisor at IBM was a game changer for Irma. That experience built loyalty and gave her the tools to grow true wealth over time, not just save. Employers have a pivotal role here combining benefits with real education can transform lives and improve retention.4. Mindset Before Mechanics: Changing Financial Trajectories.Onyx Rising’s programs start by helping participants envision the life they want and break down money myths, especially those reinforced by culture and social media. Tailoring education to where a person is in their journey, rather than a “one size fits all” approach, is critical for real, lasting change.5. Financial Well-being Equals Freedom and Security.To Irma, true financial well-being is about freedom to travel, to experience life, and to weather unexpected challenges (like the car that literally crashed into her house!). Preparation allows us not just to survive, but to thrive even through the storms life throws our way.If you’re an employee, check out the resources your company might already offer and be proactive about using them. Employers, consider integrating financial wellness programming to benefit both your people and your business.For more from Irma and Onyx Rising, including mindset quizzes and employer guides, head to onyx2rise.com. If you enjoyed our conversation, don’t forget to subscribe, leave a review, and share this episode with someone on their financial wellness journey. Thanks for tuning in. I look forward to seeing you next time!

Welcome to another episode of Modern Financial Wellness! I’m your host, Jim Grace. In this episode, we tackle an essential but often overlooked part of financial wellness—how we support our loved ones (and ourselves) as we age. Whether you’re part of the sandwich generation juggling kids and aging parents, or you’re planning ahead for your own well-being, today’s conversation is for you.To guide us through the complexities of aging and care planning, I’m joined by Jennifer Mahoney, head of Live Well Care Management (formerly AZA Care Management). With over three decades of experience in Greater Boston, Jennifer and her team of healthcare professionals help families navigate the maze of senior care, advocate for loved ones, and coordinate personalized plans for happier, more connected aging.Key Takeaways:Start the Conversation Before a Crisis: Most families reach out to care managers after a fall, hospitalization, or urgent diagnosis. But proactive planning, like Jennifer’s “Peace of Mind Program,” establishes a relationship and understanding long before emergencies arise—saving stress and improving outcomes.Care Managers Aren’t Just for Healthcare: Live Well’s team handles everything from medical advocacy and managing appointments to arranging social outings and digital connections. Quality of life for seniors goes beyond medicine—it’s about relationships and daily joy.Delegating Care Coordination is an Investment in Relationships: Caring for a parent or spouse often brings stress, time pressures, and even guilt. Hiring a care manager doesn’t mean you’re neglecting your responsibility—it frees you up to be more present as a spouse, son, or daughter and creates a healthier dynamic for everyone involved.There’s Help (and Funding) Beyond Private Pay: Jennifer highlights lesser-known Medicare Advantage benefits, VA programs, and local resources like senior centers and councils on aging. A seasoned care manager navigates these options, ensuring families don’t miss out on valuable support.Handle Resistance with Empathy and Communication: If a loved one is reluctant to accept help, frame the conversation around your need for support—“I need someone local to help me help you.” And remember, care managers can advocate for the senior’s true needs, even when family expectations don’t align.If you’re preparing for aging—your own or a loved one’s—the key is to plan ahead. Have the conversations early, reach out to care management, and don’t go it alone. Everyone will be better off for it.Be sure to subscribe to Modern Financial Wellness for more conversations that help you and your family thrive—financially, emotionally, and beyond!

Welcome to Modern Financial Wellness! I’m your host, Jim Grace, and today I was thrilled to sit down with Christine Moriarty, CFP®, a seasoned financial planner, author, and keynote speaker, whose area of expertise is navigating money conversations for couples. With over 30 years in the industry, Christine has helped countless couples and individuals bring more peace and understanding to their financial lives.This episode is all about one of the most challenging—and rewarding—aspects of financial wellness: how couples can manage money together. Whether you’re newly dating, about to move in, getting married, or decades into your partnership, Christine and I discussed the dynamics that play out when two people try to merge not just their finances, but also their upbringing, values, and money habits.Christine brings a wealth of experience to this conversation. She’s spent decades coaching couples, teaching workshops, and writing about what it means to create “money peace.” Her perspective is informed not only by her professional background but also by her personal journey—observing healthy financial habits modeled by her parents and learning through her own marriage what works and what doesn’t. She is the author of Creating Your Money Peace and runs the site moneypeace.com.Key TakeawaysMoney Talks Need to Start Early (and Often): The best time for couples to begin talking openly about money is before moving in together or making big commitments. Start by sharing your financial backgrounds—how you grew up, your first money memories—before diving into the numbers.Appreciate, Don’t Judge, Your Differences: We all bring different values, habits, and anxieties around money to a relationship, often absorbed from our families. Rather than viewing differences as obstacles, see them as opportunities for deeper understanding.Systems Must Be Fluid: What “worked” for a couple for years can suddenly cause stress when life changes—think retirement, a new baby, or job changes. Regularly revisit your money systems, budgets, and roles so you can adapt together.It’s About Conscious Choices, Not Perfection: The goal isn’t to avoid all disagreements or to create a perfect budget. It’s to make conscious, intentional decisions together, understanding the “why” behind your money priorities.Regular Money Dates Change Everything: Inspired by Victoria Felton Collins’ Couples and Money, Christine encourages “money dates”—structured, time-limited conversations about finances. These create a safe space for ongoing, manageable discussions instead of high-stakes arguments.Money is never just about numbers—it’s about communication, values, and being willing to learn about yourself and your partner. It takes patience, baby steps, and sometimes help from professionals or good resources. I am grateful to Christine for sharing her hard-won wisdom and practical advice. If you want more on this topic, check out the resources above, and as always, feel free to reach out via modernfinancialwellness.com. And remember—give yourself some grace as you tackle money together!Thanks for listening. Until next time, stay well!

Welcome back to Modern Financial Wellness! In today’s episode, I tackle one of the most pressing and emotionally charged questions in personal finance: Should you rent, or should you strive for homeownership? Rising interest rates, surging home prices, and shifting economic forces have made the decision more complicated than ever. With headlines declaring the “death of the American Dream,” many are left wondering—is owning a home still possible, or even the right choice?To dig into this topic, I’m joined by repeat guest John Donlon of Gold Coast Mortgage in Beverly, Massachusetts. John brings decades of experience working on the front lines with home buyers, and his practical, thoughtful approach to the renting versus owning debate makes him an invaluable resource for anyone pondering a move.John and I dove into the emotional, financial, and economic realities facing would-be homeowners and renters today. We discussed the deep-seated fears associated with taking on a mortgage, including the relentless nature of those monthly payments and how life’s unpredictability can make homeownership intimidating. John provided perspective on why these concerns aren’t new but have evolved—especially with the entrance of private equity firms and institutional investors who are reshaping the rental landscape.We also examined how renting can offer flexibility but is now often managed by detached corporations rather than local landlords, leading to higher rents and less personal interaction. John and I shared stories from our own lives and those of our clients—illustrating the “aha moments” that drive people to take the leap into homeownership (or decide to wait), and how those moments are often driven more by lifestyle and family needs than strictly by finances.Much of the conversation focused on how to know when you’re really ready for homeownership, the risks of rushing in for the wrong reasons, the myths about timing the housing market, and why waiting for the “perfect” rate or price can backfire. John explained the truth behind mortgage rates, the critical mistake of trying to time the market, the importance of affordability, and the long-term wealth-building aspects of owning a home—even in challenging environments.5 Key TakeawaysHomeownership Is a Serious, Long-Term Commitment—But It’s Always Been Scary: Taking on a mortgage is intimidating and a huge responsibility. That fear is nothing new; our parents and grandparents felt the same anxiety in their own time, even if their numbers were smaller. The perceived threat is less about the numbers and more about the relentless nature of the obligation.The Rental Game Has Changed—And It’s Not Always in Your Favor: The rise of private equity and corporate ownership in the rental market means tenants are often dealing with faceless algorithms, not caring landlords. Rents are determined by market-maximizing algorithms rather than people, making it harder for renters and contributing to the rising cost of both renting and buying.The “Aha Moment” Should Drive the Decision More Than Math Alone: Most people don’t jump into ownership solely for financial reasons. The decision to buy is often triggered by changes in lifestyle—like needing space for family or wanting more stability—rather than doing a simple rent vs. buy calculation. Running toward ownership only for a perceived tax break or “cheap” mortgage rate can lead to regret.Don’t Try to Time the Market—Your Personal Readiness Matters More: Waiting for the “right” interest rate or a drop in home prices rarely works out. None of us (not even the experts!) can reliably predict mortgage rates or housing prices. Instead, focus on your personal “clock”—your needs, career, and readiness. Honor your own timing rather than market...

Hey everyone and welcome back to another episode of Modern Financial Wellness. This week, we're diving deep into one of the biggest and most stressful financial decisions families face: planning and paying for college. I’m thrilled to be joined by Jack Wang, a seasoned college financial aid advisor and host of the Smart College Buyer podcast. Jack brings a wealth of experience helping families navigate the complexities of the college process and is a constant source of practical, level-headed advice in an area often clouded by emotion and misinformation.Jack Wang is not just an expert in all things college finance—he’s a trusted guide for families caught in the whirlwind of applications, campus visits, financial aid forms, and difficult tradeoffs. He’s the host of the Smart College Buyer podcast and a regular contributor to national publications, known for his ability to break down the “nuts and bolts” of college planning while never losing sight of the emotional side of the process.This episode peels back the layers on college funding, exploring not just the technical strategies (though we get into plenty of those), but also the mindset and family dynamics that make this such a unique challenge. Jack and I tackled questions like: When should families start planning? How much does the “name” of a college matter? What steps can parents take to ensure both their child’s happiness and their own financial wellbeing? Throughout, we returned to the concept of “buying college” as an investment in a student’s future—and how to make sure it’s the right one.Key Takeaways:Start Early—Earlier Than You Think: Planning for college really begins freshman year of high school, not junior year. The financial aid “base year”—the time colleges review financial info—actually starts spring of the sophomore year, so early family conversations and financial maneuvers make a big difference.“Fit” Matters WAY More Than “Fame”: Chasing a big-name school for the prestige alone is a recipe for misery (and potentially wasted money). Students should prioritize campuses where they genuinely feel comfortable and can see themselves thriving—otherwise, costly transfers and “leakage” of time and money are likely.College Naming Doesn’t Guarantee Success: All the latest research shows that, aside from a few very narrow career tracks, the name on the college diploma doesn’t impact long-term career or financial outcomes. What matters is what students do at college—internships, research opportunities, networking, and “taking full advantage” of what’s available to them."Mental Accounting" Can Hurt Your Real-World Flexibility: Saving exclusively in a 529 plan may sound smart, but being too rigid about saving in one “silo” can limit your options later. Use multiple savings vehicles if possible, keep your eye on the big financial picture (retirement, emergencies, other kids), and aim for flexibility.Get Clear and Honest About Goals: Most couples don’t agree on what “paying for college” really means, or why it matters to them. Digging into your “why” (is it about ego, tradition, a sense of fairness?) and having open conversations—between parents, and with your kids—leads to healthier decisions, less stress, and increased alignment.Jack brought a much-needed combination of technical know-how and heart to the conversation. As we wrapped up, we agreed that while numbers matter, the real anchor in college planning is values. The better you know your own “why” and your child’s, the better decisions you’ll make—not just for the next four years, but for the future you’re all building together.If you’re starting this journey or feel overwhelmed by where to begin, I truly hope this episode provides both reassurance and actionable steps.Find the CodeSignal...

Welcome back to Modern Financial Wellness! I'm Jim Grace, and in this episode, I’m thrilled to have a very special guest—Michael Scarpati, the CEO of Retire Us. Retire Us is a game-changing financial advice platform that blends human relationships and technology to help individuals achieve financial freedom with less friction and more clarity.We kick off by examining the major barriers people face when looking for financial advice, from the lack of access to affordable fiduciary guidance to the confusion caused by an industry built on investment-first relationships. Michael helps us untangle the different types of advisors—benefits-based, product-based, and the elusive systems-based advisor—and explains why most people never get to work with an independent fiduciary unless they already have significant investable assets.Michael also outlines Retire Us’s unique process—from their free online financial assessment to their affordable monthly subscriptions that give anyone access to a full team of professionals: a CFP, an independent fiduciary, and a dedicated wealth concierge.Key Takeaways1. Know What a Fiduciary Is—and Why It Matters:Only 10–15% of financial professionals are legally held to act in your best interest. The rest may not have to—meaning it’s crucial to ask anyone you work with whether they’re a true fiduciary, and more importantly, if they’re independent fiduciaries with access to the whole marketplace.2. Not All Financial Advisors—or Advice—Are Created Equal:There are three primary types of advisors: benefits-based (usually tied to your employer), product-based (selling investments or insurance), and systems-based (true planners building holistic frameworks for your money). Most people never move beyond the first two, missing out on the systems-based approach that drives real financial progress.3. Financial Planning Should Start with Goals and Systems, NOT Just Products:Most Americans piece together products and workplace benefits without a system to hold it all accountable. Michael likens this to baking a cake without a recipe—possible, but messy and inconsistent. True success comes from building intentional systems first, then filling them with the right tools and products.4. Accessibility Is Changing, But You Need to Know Where to Look:Traditionally, high-quality, independent financial planning was reserved for those with $250,000 or more in investable assets. Platforms like Retire Us are changing that—with subscription models as low as $60/month, allowing regular people to get personalized, fiduciary advice and ongoing support from professionals who act in their best interest.5. Peace of Mind—and Real Progress—Comes from Financial Awareness:According to Michael, financial well-being is ultimately about peace. If something feels “off” with your money, it probably is. Start by getting clear on your real goals and what’s causing your stress or anxiety. Use tools (like Retire Us’s free financial assessment) and work with advisors who will help you identify and fix those blind spots, creating a holistic sense of control and confidence.Financial planning doesn’t have to be intimidating or inaccessible, and you deserve advice that is truly in your best interest—without asset minimums or high barriers to entry. Whether you’re just getting started or want to level up your systems, there are more options than ever for high-quality, human financial guidance.Huge thanks again to Michael Scarpati for joining us and sharing his mission with Retire Us. For more details, check out their free financial checkpoint at www.retire.us and follow their upcoming content on financial consciousness.If this episode resonated, please like, subscribe, and share with someone you think could benefit. And...

Welcome back to Modern Financial Wellness! I’m your host, Jim Grace. On today’s episode, I had the privilege of sitting down with Sun Yong Kim-Manzolini—a truly remarkable entrepreneur, author, and self-made millionaire. Her story is nothing short of extraordinary, taking us from her beginnings in a Korean orphanage, unable to walk, to building an amazing life of freedom, abundance, and purpose in the United States. If you’re looking for proof that adversity can be transformed into opportunity—and that transformation starts with mindset—you do not want to miss this episode.We unpacked Sun Yong’s powerful journey from her traumatic start in life, through her experience of adoption and assimilation into a new culture, to her years working a “dream job” that nevertheless left her financially stressed. Sun Yong candidly recounted how she broke free of the “broken system” of living paycheck to paycheck, why she pivoted into investing and options trading, and what it took for her to become a self-made millionaire. We also explored her mindset shifts, her approach to facing and overcoming fears, and her commitment to helping others reclaim their own power—both financially and personally.Other highlights included practical steps she took in her financial journey, the importance of goal-setting, her perspective on money as a tool rather than a source of happiness, and her advice for anyone looking to take control of their financial future.5 Key Takeaways:Your Past Does Not Define Your Future Sun Yong’s story is a real testament to the fact that regardless of your origin or circumstances, you can transform your life. Her journey from adversity to success is fuelled by her refusal to let her past hold her back.Mindset Is Everything From learning to walk or speak English to mastering new financial skills, Sun Yong emphasizes the importance of discipline, resilience, and proactive thinking. She highlights how crucial it is to take action despite fear or uncertainty.Financial Freedom Means Choices—Not Just Money For Sun Yong, true financial independence means having options: being able to take a vacation, spend time with family, help loved ones, and contribute to causes she cares about. Money is a tool for creating a richer and more meaningful life, not the end goal itself.Take Small, Consistent Steps Whether it was learning to walk, test-driving her dream convertible without yet having the money, or breaking financial goals into manageable targets, Sun Yong continually illustrates the power of breaking big dreams into actionable steps.Surround Yourself with Learning and Opportunity Sun Yong credits much of her growth to seeking out communities and resources—real estate seminars, trading groups, and mentorships—that taught her new skills. She reminds listeners that to create change, you have to go where opportunities are and put in the work to learn.Sun Yong’s journey is a masterclass in perseverance, gratitude, and intentional living. If you’re feeling stuck in your finances or in your mindset, her story will inspire you to take that first step—no matter how small—toward your own version of financial well-being.Thank you for tuning in! If you enjoyed this episode, please subscribe and leave us a review, and be sure to check out Sun Yong’s incredible resources if you want to learn more about developing your financial power and freedom.

Welcome to another episode of Modern Financial Wellness! I’m your host, Jim Grace. On this show, we explore what it means to truly thrive financially—not just in terms of dollars and cents, but in terms of how we relate to money emotionally and practically. In today’s episode, we’re diving into an important and often misunderstood topic: how ADHD and executive functioning challenges can affect our financial lives. Whether you have a diagnosis or just sometimes feel overwhelmed by to-do lists and money decisions, this conversation offers insight and practical strategies for everyone.Joining me is an expert in the field, Laurel Black. Laurel is the Director of Executive Function Coaching at ResearchILD and works as an ADHD and executive function coach with adults at Brightmind Coaching. Laurel brings a wealth of experience working with both students and adults navigating the challenges of executive function and ADHD in their day-to-day lives.We opened with a high-level discussion of what neurodiversity and ADHD actually mean, including how people relate to these diagnoses as part of their identity. Laurel explained that neurodivergence is an umbrella term covering a range of ways people’s brains work differently, and she inspired us to approach these differences with curiosity and respect.We then drilled down into the core aspects of executive functioning, how ADHD acts as a "disorder of goal-oriented behavior," and why managing financial tasks can be uniquely difficult for those struggling with executive function. Laurel shared how the dopamine system influences motivation and focus, how impulsivity and social needs can shape financial habits, and why people with ADHD might experience everything from shopping sprees to a flood of anxiety when paying bills.We also explored the emotional side of executive functioning and money: the cycle of procrastination, rejection sensitivity, and the heavy weight of social comparison. Laurel shared her own Eris framework—a practical tool for untangling expectations, reality, and emotions—so listeners can start taking manageable steps forward, no matter where they are.We wrapped up with actionable insights and recommendations for listeners, from books to check out to strategies for carving out clarity and agency in financial decision-making.5 Key Takeaways:Executive Functioning Isn’t Just for Those with ADHD: ADHD often makes executive functioning weaknesses more noticeable, but stress, anxiety, and busy lives can drain anyone’s “self-control gas tank.” Good executive function skills—like organizing, prioritizing, and flexibility—benefit everyone, especially when handling finances.Motivation and Attention Are Tied to Biology and Emotion: People with ADHD often seek novelty and social connection for dopamine hits, making it tough to prioritize long-term financial goals over short-term rewards or distractions. The impulsivity and emotional intensity can impact spending, saving, and follow-through.Procrastination Is About Emotion—Not Time Management: According to Laurel and research she cites, procrastination usually masks emotional avoidance—like fear of failure, rejection, or not meeting expectations—rather than simple laziness or bad time management. Recognizing and naming these emotions is the first step to moving forward.Try the ERAS Framework to Move Past Overwhelm: Laurel’s ERAS model (Expectation, Reality, Adjust, Start) helps break down moments of emotional overwhelm—financial or otherwise—into manageable chunks: clarify expectations, check reality, make adjustments, and take just one next step.Clarity and Agency Are the Cornerstones of Financial Wellbeing: Laurel emphasizes that financial wellness isn’t about having unlimited resources, but about knowing your reality, setting realistic expectations, making intentional adjustments, and taking small steps that build agency and control. Social...

Welcome back to Modern Financial Wellness! I'm your host, Jim Grace, and on today’s episode, I had the privilege of sitting down with Tim "Jai" Baker—wealth advisor, founder of Luminess Wealth, and author of “The Awakened Investor.” We explored not only the technical side of what makes up true wealth, but also dove deep into the intersection of finance, mindfulness, and personal transformation.Tim brings a truly holistic perspective to the financial world. With nearly four decades of experience as a wealth advisor, he’s founded multiple firms, including Luminess Wealth, and has recently authored “The Awakened Investor.” Tim’s journey—from a career on Wall Street, through personal tragedy, to deep spiritual exploration and founding a new kind of wealth management firm—shapes his philosophy that wealth isn’t just about money, but encompasses our well-being in multiple dimensions.This conversation is much more than a discussion about money or traditional financial planning. Tim shared his unique story of transformation, including how meditation began to shape his life, especially after the tragic loss of his daughter. We discussed why financial success doesn’t always lead to life satisfaction, the pitfalls of mainstream financial services (including the crucial distinction between “fiduciary” and “suitability” standards), and the importance of addressing one’s mindset and inherited beliefs around money.We also explored how the most effective wealth management considers a client’s entire well-being—drawing from Blue Zone research on longevity, examining family money scripts, and integrating mindfulness, health, and life satisfaction into financial planning. If you’re curious about the intersection of spirituality and personal finance, or want to understand why your financial journey is so entwined with your mindset and life story, this episode is for you.5 Key TakeawaysWealth is Holistic, Not Just Dollars and Cents: Tim emphasizes that true wealth is much broader than just financial assets—it includes health, relationships, environment, and personal fulfillment. This echoes the original etymology of "wealth," which referred to prosperity, well-being, and health, not just currency.Know Thyself: Mindset is Everything: Our deepest beliefs and attitudes about money are often formed in early childhood, and can drive financial decisions unconsciously for decades. Becoming aware of—and consciously reshaping—our money scripts and mindset is essential for both financial and personal progress.Not All Advisors Are Created Equal: The Importance of Fiduciary Duty: Tim explains the difference between “fee-only fiduciary” advisors and those who operate under the less stringent “suitability” standard. Only about 10% of advisors are true fiduciaries, committed to putting the client’s interests first.The Power of Daily Practice (and Teamwork): Just as true personal or spiritual development requires daily effort (think of Tiger Woods’ golf training, or regular meditation), financial growth needs consistent practice, regular reviews, and a cohesive team dedicated to your wellbeing—not just isolated experts.Transformation is a Journey, Not a Destination: Tim’s own experience—from Wall Street to spiritual retreats in India—underscores that awakening (whether financially or personally) is continual work. Setbacks and triggers are natural, and the goal isn’t perfection, but ongoing growth and alignment between our values, goals, and resources.Resources & Next StepsIf today’s conversation resonated with you, I highly recommend picking up Tim’s book, “The Awakened Investor” (available on Amazon in all formats,...

Welcome back to Modern Financial Wellness. I’m Jim Grace, CFP®, your host, and today I had the pleasure of speaking with Melissa Hoyer, a certified financial planner and certified coach from The Wealth Conservancy in Boulder, Colorado. We're talking about the complex and often personal dynamics surrounding inherited wealth. Melissa brings an interesting combination of financial planning expertise and a deep understanding of the emotional aspects of inheriting wealth, making her insights invaluable for anyone navigating this challenging situation. In this episode, we explored the experiences of people who suddenly come into wealth, often as a result of an inheritance. This can be an overwhelming experience, compounded by the loss of a loved one. Melissa shared her unique approach to coaching, combining it with her financial planning skills to help clients understand and integrate their new financial realities into a meaningful life. Melissa explained the stages of inheritance, starting with 'innocence' where inheritors are often unaware of what they own, followed by 'denial' where some might try to ignore the reality of their new circumstances. She emphasized the importance of shifting these mindsets and crafting a path towards 'integrated authority,' a stage where inheritors fully grasp their financial situation and personal values. Here are five key takeaways from our conversation: Coaching and Financial Planning Go Hand-in-Hand: Melissa uses coaching to help her clients explore their beliefs, mindsets, and values around money before making major financial decisions. This helps clients navigate their financial journeys more confidently and authentically. Take Time to Understand Your Situation: Inheriting wealth is an emotional and complex process. Melissa highlighted the importance of not making any major, permanent decisions too soon. Allow yourself a decision-free period to process the change. The Importance of Working with a Fiduciary: Melissa stresses the importance of choosing advisers who are fiduciaries—professionals legally obligated to act in their client’s best interest—to help navigate the complexities of inherited wealth. Shift Your Perspective: Transforming your mindset from 'I don’t deserve this' to a more empowering view can drastically change how you handle inheritance. Embracing self-love and understanding your own worth are critical steps in this process. Engage in Self-Discovery Before Inheritance: If possible, begin exploring your values and preferences before actually receiving an inheritance. This preparation can make a significant difference when you do have to handle it. As always, be sure to check out the Wealth Conservancy and Melissa’s work. Don’t forget to visit our website at modernfinancialwellness.com for more resources and to connect with us. Thanks for tuning in, and we’ll catch you next time! [embed]https://youtu.be/1BEGxIKLcwM[/embed] Make sure to check out some of the great recommendations that Melissa provided and follow her content below: READ + LISTEN + LEARN: Raising Financially Fit Kids by Joline Godfrey FIND MELISSA @: LinkedIn The Wealth Conservancy, Inc.  Way Into Wealth: Melissa's coaching program for easing into affluence.