If you’re dreaming of an early retirement but find yourself struggling with a deep-rooted avoidance mindset towards money, you’re not alone. However, luckily, there are proven strategies to overcome this obstacle, and today, we’re thrilled to bring you insights from renowned financial psychologist Ted Klontz. In this comprehensive guide, you’ll discover the principles and practices you need to cultivate a healthy money mindset, free from the self-defeating patterns that may be holding you back from reaching your early retirement goals.
The Ted Klontz Guide to Overcoming a Money Avoidance Mindset for Early Retirement
Are you someone who avoids thinking about money or planning for retirement because it makes you anxious or uncomfortable? If so, you’re not alone. Many people struggle with negative attitudes towards money that prevent them from making smart financial decisions. The good news is, with the right mindset and tools, it’s possible to overcome money avoidance and retire sooner.
In a recent interview with Retire Sooner, Ted Klontz shared his insights and tips for reframing your mindset around money. Here’s what you need to know:
Ted Klontz is a renowned psychologist, financial planner, and author who has spent decades helping individuals and families overcome their negative beliefs and behaviors around money. In his work, he’s found that many people suffer from money avoidance, which he describes as “a set of behaviors, beliefs, and feelings that cause a person to dismiss or avoid financial issues.”
This avoidance can manifest in different ways, such as procrastinating on paying bills, overspending to cope with stress, or avoiding conversations about money with a partner or family member. Whatever form it takes, money avoidance can hold you back from achieving your financial goals and enjoying a happy retirement.
Reframe your mindset
The first step towards addressing money avoidance is to acknowledge that it’s a problem and that you have control over changing it. According to Klontz, “what holds us back the most is our own limiting beliefs and the stories we tell ourselves about money.”
To reframe your mindset around money, Klontz suggests:
- Identifying your money script – That is the narrative or belief system you have about money. There are four types of Money Scripts: Money Avoidance, Money Worship, Money Status, and Money Vigilance. Once you have identified your script, you can affirm that what you have believed or what you believe is erroneous.
- Challenging negative self-talk – When you notice negative thoughts or emotions arise around money, name them, and challenge them. Ask yourself “is this thought accurate?” If not, reframe it with a positive affirmation.
- Practicing gratitude – Instead of focusing on what you lack or what you fear about money, focus on the abundance in your life. Klontz suggests a daily gratitude practice like writing down three things you’re grateful for each day.
Expert guests share lifestyle and money habits for an early and happy retirement
Retire Sooner is a platform curated by Wes Moss to help people achieve their financial freedom goals early in life and lead happy retirements. The program features guests sharing insights on varied topics like finance, lifestyle, and money habits. These guests are often experts in their field and share practical advice for individuals and families looking to retire sooner. Guests have shared topics like:
- How to Invest in a Volatile Market and Not Stay Awake at Night
- Saving strategies to help you retire sooner
- Overcoming objections and gaining buy-in for early retirement.
Call in with your financial question for Wes to answer at 800-805-6301
Wes Moss’s Retire Sooner program offers a call-in option for people who have financial questions and looking for help. The phone line is open from 9 AM to 11 AM on Sundays, which allows callers to have one on one conversation with Wes and to get solution to their problems. Callers can share their specific situations, concerns or ask general retirement questions.
Join the Retire Sooner Facebook Group
Retire Sooner has a dedicated Facebook Group where like-minded individuals come together to share insights, ask questions, and discuss various topics related to finance, lifestyle, retirement, and money habits. By joining the Retire Sooner Facebook Group, you’ll be part of a community that can support and inspire you to achieve your financial freedom goals.
Follow Retire Sooner on Instagram and their website
Retire Sooner provides resources and information about the different ways you can invest for an early and happy retirement. Following Retire Sooner on Instagram or visiting their website (https://www.yourwealth.com/category/retire-sooner/) will keep you updated on the latest topics covered, including guests appearing in the program.
Follow more retirement, happiness, and investing content from Wes on YouTube, Facebook, and Twitter
Wes Moss, the creator of Retire Sooner, frequently produces content across various social media platforms, including YouTube, Facebook, and Twitter. Following him on these platforms ensures that you’ll keep up to date on the latest trends in early retirement, investing, and financial freedom.
Shining light on negative money beliefs can bring awareness and positive change to one’s life
Overcoming money avoidance requires introspection and self-awareness around our beliefs and behaviors. By shining a light on our negative money beliefs, we can bring awareness and make changes that positively impact our lives and our retirement plans.
Retiring sooner and successfully requires getting our money beliefs in order. Ted Klontz’s tips on reframing your mindset around money can be a fundamental first step towards overcoming money avoidance. Taking the initiative to understand more about your money scripts, challenging negative self-talk, and practicing gratitude can help reshape how you think about money and make the best decisions for your retirement.
What is money avoidance?
Money avoidance is a set of behaviors, beliefs, and feelings that cause a person to dismiss or avoid financial issues.
What are the four types of money scripts?
The four types of money scripts are Money Avoidance, Money Worship, Money Status, and Money Vigilance.
How can I challenge negative self-talk around money?
When you notice negative thoughts or emotions arise around money, name them, and challenge them. Ask yourself “is this thought accurate?” If not, reframe it with a positive affirmation.
What kind of guests can I expect from Retire Sooner?
Retire Sooner features guests who are experts in fields like finance, lifestyle, and retirement, sharing practical advice for individuals and families looking to retire sooner.
How can I get in touch with Wes Moss directly for financial advice?
Wes Moss offers a call-in option through the Retire Sooner program. The phone line is open from 9 AM to 11 AM on Sundays, and callers can share their specific situations, concerns, or ask general retirement questions.