Where Does Financial Stress Come From? With Emily Guy Birken & Joe Saul-Sehy – Retire Sooner

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What is the stress Prime I mean is it That we're always afraid of running out Of money is it any sort of loss in Capital Hertz is it is it that somebody Messed up before when they were younger And they made a stupid purchase so they They got in credit card debt I mean is It is it pervasive do you do we do so do Most Americans have Emily that money Stress and is that why people don't want To read Financial books like your friend You just said they're like I don't I Don't want somebody to tell me I want Joe over here who's got the you know 17 Million listeners on his podcast to tell Me how wrong I am about what I'm doing What is our where is it all coming from So uh stress ultimately I find is um It's a manifestation of fear and it's a Fear that you're not gonna be able to Handle something and so um when it comes To and like the thing is money stress Can come in many different Um Flavors so you know the typical money Stress is like I don't know how I'm Gonna pay my rent Um you know I don't know if I have Enough money oh my goodness the market Took a downturn am I going to be able to Retire am I gonna have enough money for The rest of my life uh that's the Typical stress but you could also have Stress of um oh my goodness I've just

Received this big amount of money I Don't feel like I deserve it I need to Give it away as quickly as possible The contract is too big guys Um I always wonder I do wonder about Some of these NFL contracts just is There there's I mean when the numbers Get so big it's like a half a billion Over eight years like I wonder if there Is some guilt there yeah absolutely and You'll see that with I mean like really Um famous examples like MC Hammer like He was so well compensated and then Completely out of money within a few Years Um and it was because of his money Mindset Um which a lot of it came from a good Place he wanted to give back to the People in his life and that he loved and So he was like hiring his you know his Friends that he'd known since third Grade and things like that to to do Different things for him Um but it's Doing that without in give it you know Having any intention or like examining Why you're doing what you're doing uh Can lead to uh the kind of bankruptcy That that uh MC Hammer went through uh And what you see with like uh lottery Winners and stuff like that so uh that Ultimately comes from this sense of like Fear that there's not gonna be enough

Money on the other end the fear that You're not going to be able to enjoy Yourself and so you might as well spend All the money right now because you want To make sure you get all that that fomo Kind of fear Um fear that you're not good enough You're not worthy of the money and so You need to give it away Um and so recognizing that that is kind Of at the center of these stressors is Uh kind of the first step to letting go Of them

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