HAVE YOU EVER EVALUATED THE RELATIONSHIP BETWEEN EGO AND MONEY?

Joe Soto here fiduciary financial advisor and founder of the financial literacy company, the Joe Soto Project.

My goal is to help you understand money to make better decisions for yourself and your loved ones.

I am working in my off time on an online course to teach families the fundamentals of financial planning and improve financial literacy in society.

In researching this reality, I found that the bulk majority of Americans live paycheck to paycheck. I ran into this realization that the ego is a primary culprit.

I can relate. I wouldn't say I like the word ego. I wouldn't say I like the idea that I could be egotistical.

Ego is a human condition that we all have. For me, it makes me anxious physically. When I let my ego win, I often feel remorse and regret. I become full of guilt and shame; I am not a very good husband, father, or financial advisor. Yes, the ego can impact your money. 

Here is what I've discovered working with wealthy families for over 12 years.

The perspective of wealth in the US stands distorted. 

Based on my research and experience, people label wealthy individuals with a negative connotation

The majority of the wealthy people I've encountered are incredibly open-minded and acknowledge the value of the perspective of others. (They wouldn't be sitting in front of me if they didn't)

To change your financial situation, it helps to look at your stories of wealth.


My clients are often people with wealth and questions. They are aware of what they don't know, and they come to me for clarity. 

I've developed a proprietary wealth management process that helps clients gain clarity. 

But, to gain clarity, a person must first acknowledge their mental blank spots.

Here are some myths about investing:

If you invest, you'll always get a great return.

Investing is a tool for the rich.

To get help, I need to be a multi-millionaire.

Investing is easy.


Here are the trends I see in the business.

Investing is available to anyone with a phone.

Many people call themselves a financial advisor but don't have your best interest in mind.

The fiduciary advice space is growing but not fast enough

There is an ongoing battle in wall street about the fiduciary standard (a fiduciary has a legal obligation to do what's I'm your best interest)


The odds are that as you consume this message that you either don't have a financial advisor or you are working with a non-fiduciary advisor. 

The solution is to get a second opinion. I don't charge for this service, and you may schedule a complimentary call with the link below.

https://calendly.com/askjoesoto/45-minute-complimentary-financial-plan-strategy-session

He is some suggestions of dos and don'ts:

Do:

Get a written financial plan

Understand the difference between a broker and fiduciary

Understand that investing is complex, and most people can't do it on their own and be successful in long-term

Get a second opinion if you are working with a non-fiduciary advisor

Don't:

Don't settle for the status quo

Don't assume a big name firm is going to save you.

Don't let your ego close your mind to a new perspective

Don't assume what your neighbor/friend is doing is what's best for you.


To gain the clarity you need for you, the first thing you must do becomes willing to get a second opinion. I am eager to do a complimentary session for you at no cost.

Use the link below, and I look forward to speaking with you soon.

I honor you for being here and making an investment in your financial perspective.

I look forward to connecting with you in my next message.

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