My Next Move
Summary: People have complicated feelings about money. But a few simple principles can guide us toward financial health. In a weekly podcast, My Next Move, J.P. Morgan's Michael Liersch explains where to focus and what to do to move forward to reach your financial goals.
- Visit Website
- RSS
- Artist: J.P. Morgan
- Copyright: © J.P. Morgan Wealth Management 2018
Podcasts:
What are your financial planning intentions? Are you planning to spend all your money in your life? Because that would be awesome. But so would dividing your money when you pass away. Investing for retirement, do you actually want your money to last for 50, 100, even 200 years beyond your own lifetime? There’s also a fourth intention you might have in the back of your mind: Do you want your money to grow forever, as when in estate planning a family business is passed down from generation to generation and not only survives but thrives? These are very long-term money intentions, projecting beyond your own lifetime, which isn’t where many people go in their day-to-day thinking. Whatever your financial planning intentions are—to spend, divide, preserve or grow your money—in this episode, we look at certain thought processes and actions, drawing on behavioral finance, that you can take now, to have a real impact much later.
What are your financial planning intentions? Are you planning to spend all your money in your life? Because that would be awesome. But so would dividing your money when you pass away. Investing for retirement, do you actually want your money to last for 50, 100, even 200 years beyond your own lifetime? There’s also a fourth intention you might have in the back of your mind: Do you want your money to grow forever, as when in estate planning a family business is passed down from generation to generation and not only survives but thrives? These are very long-term money intentions, projecting beyond your own lifetime, which isn’t where many people go in their day-to-day thinking. Whatever your financial planning intentions are—to spend, divide, preserve or grow your money—in this episode, we look at certain thought processes and actions, drawing on behavioral finance, that you can take now, to have a real impact much later.
No one can read your mind. When you plan to give away money, make your intentions clear, communicate early and often. The $100 million game can help.
Does your family avoid talking about money? Michael’s techniques can help make dialogue with your children more productive—and gifting more empowering.
Avoiding risk is very human. Whether you seek financial risk or run from it depends a lot on your experiences and emotions. But what you want your money to accomplish should affect your feelings, too. The coin flip game can help.
Many people say that they want their money to grow – but for how long? And for what purpose? If you are looking to grow your wealth now and beyond your lifetime, there are some key actions to consider that are often left undone.
Talk about money in your family! Move from “It’s never too late” to talk to children about money to “It’s never too early.” Conversations don’t need to cover costs or balance sheets - but the financial values that drive good decisions.
