Emotions and Money Can Be a Dangerous Combination for Many Americans

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Many Americans do not realize that the way they feel about money can become a serious burden when it comes to decision-making and investing. Dan Danford, CEO of the Family Investment Center, has released a white paper about the causes and ways to overcome financial worries.

People don’t realize how often their attitudes and feelings about money can get in the way of their success when it comes to making decisions

Family Investment Center has released a new white paper addressing the role people’s emotions can play in making financial decisions.

Dan Danford, founder and CEO of Family Investment Center, understands the importance of the connection between emotions and money, and his expertise in the area has gained national attention from sources like the Wall Street Journal and Medical Economics.

Danford finds that “people don’t realize how often their attitudes and feelings about money can get in the way of their success when it comes to making decisions. In many cases, there’s a lifetime of thought patterns that have turned into habits and beliefs that may be holding a person back from reaching their goals with money.”

As a CERTIFIED FINANCIAL PLANNER™, Danford often sees clients that have serious worries about money and these stresses usually stem from a negative experience related to math, guilt or false confidence in spending, and anxiety about the markets. “These financial burdens can be costly to the most well-meaning person, but they can also be overcome,” says Danford.

Danford suggests several ways to overcome negative emotions toward investing in his most recent white paper. He believes that being well-educated on the basics toward investing can decrease anxieties, but warns that having too much of a “do-it-yourself” attitude or leaning too heavily on market fluctuations can contribute to unnecessary investment stress. He also recommends that individuals and families set realistic goals and seek out help from an advisor to build confidence in making financial decisions.

Danford hopes resources like the new white paper will encourage investors to consider their own behaviors toward money and to set goals toward their future, regardless of fears that it may be “too late” or that their resources won’t be enough.

“Our team isn’t trying to delve into those emotions or act as psychologists, but rather to be a neutral and professionally-experienced voice to help navigate and guide through the decision-making process so that these emotions don’t get in the way of a person’s next steps,” Danford explains. “Because we operate in a fee-only environment, we can share the best of our stream of education and experience in an open setting – which helps us move forward with clients.”

For more information about the white paper or Family Investment Center, visit http://www.familyinvestmentcenter.com/ or http://www.familyinvestmentcenter.com/fic-blog.

About Dan Danford and Family Investment Center
Dan Danford serves as President/CEO of Family Investment Center, a full-service, commission-free investment advisory firm. Based in St. Joseph, Mo., Family Investment Center also serves clients in the Kansas City Northland area and across the country.

In 2012, Danford was featured in the book “America’s Top Financial Advisors.” A 2009 Wall Street Journal article outlined Danford’s unique birthday messages to clients, complete with a $2 bill inside the envelope. In 2009, Danford was also quoted on “ABC News” for his insight into how parents can protect funds for their children’s college education. He was listed as one of the 150 Best Financial Advisors for Doctors in 2008 and 2009 by Medical Economics magazine. A 2006 article in The New York Times quoted Danford’s insights on working with a financial advisor.

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Susan J. Campbell

Susan J. Campbell
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Dan Danford and Family Investment Center
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