2964: Financial Fear and Resistance by Alacias Enger of My Sense With Cents on Money Advice

Optimal Finance Daily - Financial Independence and Money Advice

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Investing, Self-improvement, Education, Business

4.5 • 1.3K Ratings

🗓️ 9 December 2024

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 2964: Alacias Enger explores the emotional and financial implications of living in a world where personal responsibility for retirement has replaced traditional pensions. Through a poignant client story, she illustrates how fear and resistance can hinder progress, and emphasizes the value of surrendering to the present, fostering gratitude, and seeking supportive financial guidance to achieve stability and growth. Read along with the original article(s) here: http://www.mysensewithcents.com/2021/05/financial-fear-and-resistance.html Quotes to ponder: "Fear isn't a terribly useful emotion as it often has us manifesting in the direction of that which we do not want." "Resistance is very literally fear. When we experience fear, it is because we are literally resisting our here and now by focusing our attention on a past we cannot change or a future we cannot control." "Can you simply observe your life, your money, and recognize that in this moment you are okay?" Episode references: IRS Code 401k Overview: https://www.irs.gov/retirement-plans/401k-plans The Revenue Act of 1978: https://www.congress.gov/bill/95th-congress/house-bill/13511 Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:30.4	This is Optimal Finance Daily. Financial Fear and Resistance by Alacius Anger anger with my sense with sense.com.
0:40.0	Once upon a time, the average American graduated from high school, maybe attended college,
0:45.6	maybe not, and found a job and a nice company where he or she would work for 30 plus years,
0:51.4	at which point they'd be thrown a nice party, be gifted with a beautiful
0:55.5	company watch, retire, collect the company pension, and take up a hobby like gardening or golf.
1:02.4	As you can imagine, all of those parties, watches, and pension checks became quite the expense
1:07.7	for the corporation, an expense they'd rather do without. So, corporate America
1:13.0	sent their finest lobbyist to D.C. to protect corporate profits under the guise of helping
1:18.9	the American people save more for retirement. Thus, the Revenue Act of 1978 was born, an IRS code 401K. In theory, the 401k was intended to be a supplemental retirement
1:33.8	investment vehicle that an American worker would utilize to save up additional funds for retirement.
1:40.4	It wasn't originally designed to be the only retirement vehicle utilized by workers.
1:46.0	Unfortunately, as years went by, more and more corporations retired their traditional pension plans,
1:52.4	placing retirement planning almost exclusively in the hands of the individual worker.
1:58.2	It's a terrifying prospect for a nation of people that aren't required to take
2:02.6	a personal finance course in high school. But that's where we're at. And fear isn't a terribly
	...

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