Could You Benefit from a Little Financial Therapy?
Motley Fool Answers
The Motley Fool
4.4 • 823 Ratings
🗓️ 5 July 2016
⏱️ 26 minutes
🧾️ Download transcript
Summary
Financial therapy is a growing trend in financial planning that helps reveal your deeply-held beliefs about money--particularly the beliefs that are holding you back from reaching your goals. We'll also answer your question with four questions that will determine whether or not to take an ownership stake in the company where you work. Also, Alison apologizes to the great state of New Hampshire.
Transcript
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| 0:00.0 | This is Motley Fool Answers. I'm Alison Southwick, and I'm joined as always by Robert Brokamp, |
| 0:08.2 | personal finance expert here at the Motley Fool. Such a pleasure to be with you again, Alison. |
| 0:14.1 | Love the enthusiasm this week. On today's episode, we're going to look into the emerging industry |
| 0:19.5 | of financial therapy and explore the concept of money scripts, which some fancy-pants psychologist came up with |
| 0:26.6 | to help us define our relationship with money. |
| 0:28.9 | We're also going to answer your question on investing in the company where you work, and we'll |
| 0:32.7 | end the show with a few thank-y-s and shout-outs to our fine listeners. |
| 0:36.1 | That's you. |
| 0:36.8 | All that and more on |
| 0:37.7 | this week's episode of Motley Fool Answers. It's time for Answers! And today's question |
| 0:43.5 | comes from Ryan. Ryan writes, My dad is 56 and wants to retire at 60. He has been presented |
| 0:49.4 | with an opportunity to buy a small ownership stake in his company. 25K for 10%. What top three questions |
| 0:56.8 | does he need to ask himself before making any decision to invest? Thanks. Love the show, |
| 1:02.8 | Ryan. So, Ryan, to get this answer, we actually turn to Olin Douglas, friend of the show, and |
| 1:07.9 | he's also the Motley Fool CFO. He knows a thing or two about investing |
| 1:12.1 | in companies. And so here's what he had to say. Hello, Allison. How are you today? |
| 1:17.5 | I'm good, Olin. How are you? Thank you for helping us answer this question today. No problem at all. |
| 1:22.0 | Well, here we go. Normally, the first question I would ask would be, am I willing to lose 100% of this investment? |
| 1:30.3 | However, in this case, I would modify that to be, am I willing to lose 100% of this investment |
| 1:35.9 | and at the same time lose my job? |
| 1:40.3 | Assuming that I get past, number one, which you can do and still be rational. |
| 1:45.5 | It's okay. |
... |
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