November 15, 2012
Rick Kahler believes that financial planners who do not factor in the psychological aspects of their clients’ money problems are “missing the elephant in the room.”
Kahler, a founding board member for the Financial Therapy Association, usually meets with each new client in the presence of a therapist. And for the minority of his clients who are “stuck” and can’t get past their money issues, which are often rooted in childhood, he asks that they submit to psychological coaching.
In his 2008 book, “Facilitating Financial Health,” Kahler identified several common money disorders. The South Dakota planner recently shared his ever-evolving list, which Squared Away used as the basis for the above slide show.
Click here to watch an interview in which Kahler talks about our “number one stressor.”