According to research published by the Financial Industry Regulatory Authority (FINRA) about two years ago, if you have experienced financial anxiety and unease for a long time, there is a higher chance of failing to plan for your retirement. Investing and planning for financial stability often generates fear and excitement in equal measure. Therefore, you should seek the services of an expert in financial therapy Midtown East to help you be in control of your finances and achieve financial stability.
There is a difference between a financial therapist and a financial advisor.
For example, if you have saved a good amount of money but have yet to invest it because you fear you may go broke without positive returns, you should speak with a professional in financial therapy.
However, consult a financial advisor if you have saved some money and need to know how to invest.
Subsequently, below are different stages in life that may make you need a talk with a financial therapist.
- The start of a healthy relationship with your money
An expert in financial therapy can help you take control of your hard-earned cash and enable you to play a more significant and better role at the beginning of your journey toward spending money and investing wisely.
A financial therapist can help unearth and make you abandon beliefs in money or bad financial habits that prevent you from handling your money better.
- Starting a fresh relationship
Failure to discuss your finances and set shared goals can hurt and ruin your marriage or relationship.
Therefore, during the beginning of a relationship, you and your partner should take your time and seek professional help from a financial therapist.
A financial therapist can assist you, and your new lover learn to think the same way about finances and talk about money healthily and positively.
As a result, you can better handle your money, have a healthy relationship, and prepare for a future that allows you to be more financially stable.
- Transitions in life
Some changes in your life can stress you because they leave you broke or in fear of being broke.
Life changes that can leave you financially constrained may include a career change, the end of a marriage, or treating a newly diagnosed disease.
Learning the right skills from a financial therapist can help you cope with financial constraints.
When you retire, you should relax and prepare to take delight in the benefits resulting from many years of working.
But, many people, when faced with retirement, encounter fear and may be uncertain if their finances can enable them to live comfortably.
A specialist in financial therapy can help you plan for your retirement and transition smoothly from working to retirement confidently and happily.
Because of the importance of a financial therapist, take your time to search and find the right one. Like your behavioral therapist, your financial therapist must be professional and make you feel comfortable talking about negative beliefs and feelings about using and investing your money.
Contact Triad Primary Care today to schedule an appointment with an experienced financial therapist.