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Business & Economics

Rick Kahler explains why you might hate saving for the future

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Chynna Lockett
/
SDPB

This story is from an interview on SDPB's daily public-affairs show, In the Moment, hosted by Lori Walsh.

Financial advisor and financial therapist Rick Kahler joins Lori Walsh for a conversation about emotional blocks that keep us from preparing for our financial futures.

Kahler says fear of the future can show up in our bodies and in our behavior. Fear and anxiety surrounding retirement, loss of purpose, and mortality can cause some people to procrastinate financial planning to their own detriment.

Here are just a few of the ways Rick Kahler says fear about planning for your financial future can show up:

Avoidance
Shame
Unwillingness to ask for help
Perfectionism
Fear of failure or criticism
Lack of urgency in the absence of a crisis
Fatigue or illness
Lack of resources (money, knowledge) to move toward solutions

And here are some steps for addressing procrastination in financial planning, according to Kahler:

Recognize you are having difficult emotions
Do a body scan to see how those emotions are presenting physically
Gather information and input about possible solutions
Seek help from a financial therapist (through reading, listening to podcasts, or scheduling an appointment)
Reframe what things like retirement mean to you and embrace their positivity
Continue the lifelong work of evaluating your emotions and your money.

You can find more conversations with Rick Kahler on In the Moment. Kahler also collects the conversations on his website for ease of reference.

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