Goals, Goals, Goals – Part 1

The first step in reaching your goals is to DREAM. The dream is the essence of your GOAL FORMATION.

Podcast Details:

Podcast Title:  Goals, Goals, Goals – Part 1

Podcast Series: The Maven’s Keys to Financial Contentment

The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur.  Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.

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The first step in reaching your goals is to DREAM.  The dream is the essence of your GOAL FORMATION.

A common theme in our society is saving for retirement.  But where do you begin?  GOAL FORMATION.
Spending some time on GOAL FORMATION is the first step in how you would attack how much money needs to be saved, such as:
  • What do you want your lifestyle in retirement to be…
  • How much money would that take…
  • How long you need to work to fulfill that…
  • What do you want to do in retirement…
  • What do you want to achieve… 
As we’ve mentioned before in Financial YOU (listen to part 1, part 2, part 3 or part 4), the first step to attacking any problem would be to assess your current situation before you can address any issues that you notice, make the necessary adjustments and then achieve what you want.  So this is pretty common to goal setting and achievement.
#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance

About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

 

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How Well Do You Know Yourself

The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur. Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.

Podcast Details:

Podcast Title:  Using Money and Not Letting It Use You

Podcast Series: The Maven’s Keys to Financial Contentment

The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur.  Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.

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  • What does the research really show? (3:20)
  • What is our problem?  (5:40)
#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance

About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

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Using Money and Not Letting It Use You

The 3 questions that probably shape the way you view financial success…

Podcast Details:

Podcast Title:  Using Money and Not Letting It Use You

Podcast Series: The Maven’s Keys to Financial Contentment

The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur.  Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.

(HEAD OVER TO YOUTUBE FOR THE VIDEO VERSION)

  • The 3 Questions…(1:55)
 -Why do I need financial success?
-What will I do once it is obtained?
-How will I pass on my financial success?

 

Answers to these questions by you reveal the lenses through which you view money and will reveal other things about yourself if you choose to explore them.
  • What “space” does money take up in your life? (2:50)
  • Why do I need financial success? To leave a legacy…To leave your imprint on the world… (4:14)

Live the eulogy you want to be read once you’re gone!

  • What will I do once it is obtained? Activities that coincide with your life’s mission…(6:25)
  • How will I pass on my financial success? To the worthy individual…(7:50)
  • Life’s formula (9:55)
#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance
#stewardship

About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

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#FinancialLiteracyBootCamp

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What’s Your [Financial] Motivation?

You have to be careful that money occupies the appropriate place in your life. Otherwise, it can be your downfall because you can start to sacrifice some very important, sometimes irreplaceable things for it–like relationships and time.

Podcast Details:

Podcast Title:  What’s Your [Financial] Motivation?

Podcast Series: The Maven’s Keys to Financial Contentment

The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur.  Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.

(HEAD OVER TO YOUTUBE FOR THE VIDEO VERSION)

So we just completed a series on developing our “money mindset” to address our attitudes and behavior with money.  I’d argue it is impossible to use something for its intended purpose if you don’t know it’s purpose.   Which constantly gives me something to talk about….but it occurred to me that I gave you the purpose of money in the last 3 podcasts on this topic but we didn’t really address YOUR individual purpose.  For instance, why do you want to financial success or money or wealth?

 

What is your purpose in life? (4:55)
3 points or really questions today (7:24)
-Why do I need financial success?
-What will I do once it is obtained?
-How will I pass on my financial success?

 

Answers to these questions by you reveal the lenses through which you view money and will reveal other things about yourself if you choose to explore them.
The key to stewardship (8:50)
You have to be careful that money occupies the appropriate place in your life.  Otherwise, it can be your downfall because you can start to sacrifice some very important, sometimes irreplaceable things for it–like relationships and time.

 

#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance
#stewardship

About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

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Developing Your Money Mindset: “You as Steward and Your Money as a Tool”

The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur. Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.

Podcast Details:

Podcast Title:  Developing Your Money Mindset:  “You as Steward and Your Money as a Tool”
Podcast Series: The Maven’s Keys to Financial Contentment

 

The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur.  Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.

 

(HEAD OVER TO YOUTUBE FOR THE VIDEO VERSION)

 

So we’ve been talking about developing your money mindset and we want to wrap things up today with how we should view money.

 

Last week I talked about Marvel Comics and this week I’ll stay with the entertainment theme and talk about The Count of Monte Cristo.  So the movie is obviously adapted from the book by Alexandre Dumas.  My generation is probably more familiar with the film with Jim Caviezel and Guy Pearce.  And to me this is the classic example of stewardship gone awry at least at first.  But there are some lessons that I think are appropriate for our discussion in developing your money mindset.

 

So the first lesson is:

 

  1. Finding out that [the money] is not yours – Developing your money mindset involves realizing that money comes and it goes.  You should master its use as tool, not let it master you.
  2. Finding a higher purpose for it is more enjoyable  – In the movie, “The Count of Monte Cristo”, the main character realizes his plot of revenge isn’t as satisfying as using the money for a higher purpose.
  3. Finding its proper use brings more of it  – Those in our society that adopted a “stewardship” mentality have found out that they actually attain more money.
#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance
#countofmontecristo

About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

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Developing Your Money Mindset: “Money as an Amplifier”

Podcast Details:

Podcast Title:   Developing Your Money Mindset:  Money as an Amplifier
Podcast Series: The Maven’s Keys to Financial Contentment

 

The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur.  Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.

 

(HEAD OVER TO YOUTUBE FOR THE VIDEO VERSION)

 

In talking about  “Developing Your Money Mindset”, I want to begin this episode with an analogy to help unpack today’s discussion.  I watch the Marvel movies and Netflix series because I do enjoy the entertainment value of the movies and Netflix series.  And it occurs to me (and probably you also) that all the superheroes have this internal struggle that they go through in spite of their superpowers.  You notice that?  All of these characters all have an internal battle and as they are working towards resolving those internal struggles, they come across these villains or circumstances that engage their superpowers.  But it is striking to me how the powers just work as amplifiers to what is already in them.  So today I want to unpack our previous discussion on “developing your money mindset” and talk about “money as an amplifier.  In the Netflix series, Daredevil, he is struggling with abandonment.  And despite of his great powers and skills, the good aspects of his character won’t allow him to kill anyone while he’s using his power.

So in last’s week discussion, I challenged you to view money as just a proxy for a value transaction.  It isn’t emotional we are emotional.  It isn’t good/bad, we’re good or bad.  So then it follows that money and/or resource acts as an amplifier of what is in us.

 

#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance
#marvelcomics
#daredevil

About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

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Developing Your Money Mindset: “Money as a Tool”

The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur. Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.

Podcast Details:

Podcast Title:  Developing Your Money Mindset:  “Money as a Tool”
Podcast Series: The Maven’s Keys to Financial Contentment
The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur.  Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.
(HEAD OVER TO YOUTUBE FOR THE VIDEO VERSION)

 

We’ve covered a lot on the first seven episodes and now it is time to start talking about “developing your money mindset”.  Today is a topic that we’ll probably unpack over the next 3 or 4 episodes for the sake of being thorough.  So we’ll start with “developing your money mindset–money as a tool”.

In the book I’m writing, I called this section “Developing Your FMO” which stands for “financial modus operandi“.  Which is Latin for “habits or behaviors”.  But the goal here is to unpack the lenses you wear when it comes to money.  A lot has been said and penned on this topic, you can just google “money mindset” or “behavioral finance/economics” and see what comes up.  In this series though, I thought I’d try my hand at it.

So let’s take a couple steps back, because how you view money is going to stem from countless INTERACTIONS, that have formed a BELIEF system which constitutes how you BEHAVE. But before that we must begin with you as a person and before that we have to talk about MONEY on its own.  One major characteristic of money is that it is neither moral or immoral.  Money can be spent however you want.  It is actually amoral.  Money is amoral and it does whatever is the intent of the person using it. This is the first key to this is understanding what the role of money is in our lives, in our economy, or the world period.

In a book I’m reading called The Ascent of Money, it covers the evolution of money and monetary systems around the world and those that have used it for good or evil.  But my takeaway is that it is just a conduit or a tool to accomplishment a certain thing. Money is just a medium of exchange for goods and services that have a particular value assigned to them.  So in developing your money mindset, look at money has as a proxy for a value transaction.  When we frame it that way, we can start to divorce our emotions that are tied to money allowing us to develop the proper mindset around it.

#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance

About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

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Selling Ourselves Short

Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.

Podcast Details:

Podcast Title:  Selling Ourselves Short
Podcast Series: The Maven’s Keys to Financial Contentment
The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur.  Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.
(HEAD OVER TO YOUTUBE FOR THE VIDEO VERSION)

 

Last week we discussed what “finding and doing what you love to do”.  After that show aired, I thought about how I should have dealt with the issue of how we “sell ourselves short” first.  So this will be a prequel of sorts.  You may not think that you sell yourself short, but if you dream less about what you want and could do, you are doing it.  This is the reason why it is so important to discuss this topic.  In Andy Andrews book The Traveler’s Gift, the main character David Ponder is taken to a warehouse where he sees the cures to diseases and inventions that would help mankind.  When he asks why these were all in this place and of no use to anyone, he was told that…

 

“the contents of this warehouse are filled with the dreams and goals of the less courageous…the place that never was”.
So this is why it is so crucial to discover whether we sell ourselves short by not pushing past mental barriers that we may have.  In order to win in life, with your money, with relationships, etc., you have to find out what is holding you back.  You have to understand the “what, why and how” of selling yourself short.  In this episode, I will add this additional layer of discovery on top of what we discussed last week in “Finding and Doing what you Love to Do.

 

1) What do we sell ourselves short on…Our Dreams
2) Why do we sell ourselves short…Our own Self-Sabotage
3) How do we sell ourselves short…By not changing our “lenses”

 

#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance

About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

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Finding (and Doing) What you Love to Do

Finding and doing what you love to do starts in your heart–not your head.

Podcast Details:

Podcast Title:  Finding (and Doing) What you Love to Do
Podcast Series: The Maven’s Keys to Financial Contentment
The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur.  Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.
So last week we discussed what real or true financial contentment is and I broached a subject that I feel obligated to unpack just a bit. Because in order to have this true financial contentment that we are speaking about, you have spend your time doing what you love to do. Many of us can push past what we desire to do out of obligation to others.  But to be truly financially content, your resources (time, talent and treasure) have to be in alignment with what you believe.  This all starts with finding and doing what you love to do.
As children we are dreamers, but we begin to dream less as “reality” sets in as an adult.  But our dreams are the basis for finding what will motivate you towards a particular goal.  This inevitably leads us on a path to finding and doing what we love to do.  So how can we get it back to dreaming?  Because we have to start dreaming again.  We have to stop letting the “status-quo” dominate what we think and feel and ultimately end up doing.  Finding and doing what you love to do starts in your heart–not your head.  Here’s a little formula on how to move forward:
1) Find a Problem:  What problem do you or you feel people have that you have an answer to?
2) Make it a Passion: Think about whether you would solve that problem even if you weren’t compensated (if not, go back and start over)
3) Make it about People:  Then think about 10-15 people you’ve encountered in discussing this problem and/or provided a solution to them.  Are they influential?  (e.g. Do they have others that they talk about this problem to?)
4) Make a Process:  Think about how you could organize your life to deliver these discussions/solutions on an ongoing basis to those people and what it would take in time & effort.
#truefinancialcontentment
#financialadvice
#financialplanning
#behavioraleconomics
#behavioralfinance
#businessplan

About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

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What is True Financial Contentment?

The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur. Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.

Podcast Details:

Podcast Title:  What is True Financial Contentment?
Podcast Series: The Maven’s Keys to Financial Contentment
The Maven’s Keys to Financial Contentment is my idea that true financial contentment can be found when an overlap of money and beliefs occur.  Many people ask the question of how to be “financially content” and this is a discussion to uncover those answers.
For the last few weeks we have discussed “Financial You” which was all about ASSESSING (identifying the gaps), ADDRESSING (owning your situation), ADJUSTING (changing your behavior) to ACHIEVE your ideal financial situation, I thought it would be appropriate to cover what is meant behind the phrase:  “true financial contentment”.  In this episode, I explore the concept of “true financial contentment” with a diagram I use with my clients in my financial services practice.  Most people might think that financial contentment is all about money.  However, I believer financial contentment is not all about money, and it has more to do with how your BELIEFS intersect your RESOURCES.  My belief is that as you create more and more overlap of your BELIEFS and your RESOURCES (time, talent or treasure) that you will find greater fulfillment and true financial contentment.  (For the illustrated version of this episode, please visit my YouTube channel).
#truefinancialcontentment
#financialadvice
#financialplanning

About Me:
Dominique Henderson, CFP® is founder of DJH Capital Management, LLC., a fee-only, registered investment advisory firm specializing in comprehensive financial planning and wealth management.

Where to Find Us:

Facebook-Icon78-3 twitter-icon youtube google
#FinancialLiteracyBootCamp

Sound bumps provided by www.bensound.com