Would it be okay

      if you stopped

          worrying about m*ney?

 

I know that sounds like a strange question. But sometimes we get in awful habits and the thoughts take over--if we are not vigilant, the worry thoughts think themselves. Again and again.

If you are thinking, "well, who wouldn't like to stop worrying about money? Duh." Is that thought followed up by, "But it is impossible--we have to worry about money."

In my speaking and workshops, I am teaching folks about the three parts of Money IQ. For years I taught folks good, tactical and strategic "hard money" skills. Ways to do better with the money they had and make it work for them. While there was always an improvement, I began to see it was like putting a quarter into a pocket with a hole. Sooner or later, the Emotional and Spiritual issues would recreate the circumstances that were problematic in the first place. I began teaching the emotional money skills and the spiritual money skills along with the "hard money" skills and it was clear that  lives transformed. I call this transformation Sustainable Prosperity. It isn't about a quantity of money. It is about knowing Who You Really Are, and the money you have supports Who You Really Are.

Most of the time I hear comments like, "I don't know anyone who is doing what you are doing", and "How do you do that?"

 
I find it is much better to show folks, so here is an example for you:

Most 401K's (and all the variations of them) are problematic. The usual culprits are variety of funds, and costs of funds. When I review 401K's with my clients, I teach them good questions to ask. Just as importantly they learn why they are asking the questions. In this case, is the 401K a quality plan or not. Without sound emotional money skills, and spiritual money skills--all their questions are moot. Either the changes in investments will be from the frying pan to the fire, or will be done in the wrong way at the wrong time--so that while they may be somewhat better off initially--the circumstances leading to the crummy plan to begin with--will happen all over again.

What does your nest egg really cost you?

Consider this:

*   In a study by the Government Accountability Office (GAO), employers are increasingly shifting retirement plan expenses to their employees. Do you know what you pay for your plan? If you see a phrase like: "All returns reflect investment expenses but not plan expenses." means you don't know what your employer is asking you to pay for your plan.

*   Also from the GAO : the 401K administrator "may also be receiving compensation from mutual fund companies for recommending their funds. ... As a result, participants may have more limited investment options and pay higher fees for these options than they otherwise would." Translation: it's a kickback. And your money is invested not because it is the best place for your money, but because someone, somewhere in the loop is getting paid extra.

*   The folks who pick the plans (HR) while wonderful people--don't have degrees in economics or investing. They are HR people. They know how to interview. While the employee wants a WIDE range of low cost excellent investments, an HR person may be looking for ease of use--sign-up, management from web-site (taking them out of the loop), as well as other factors.

(If you want more 401K tips, check out the Feb 3rd. teleclass- below).

 Now, you can begin to worry about your 401K. Worry can morph into anger, or sadness. It can keep you up at night. Good emotional and spiritual money skills lead you to not waste your energy, your life force, on the choice of worry.  Worry doesn't bring you a return on your investment. Worry wastes energy, leaving you with less for the work you need to do. 

Poor emotional money skills read this information and think you don't want to hear more bad news, you have had enough bad news thank you very much. Or, the ego gets really activated and storms into work and starts complaining about getting ripped off.   Poor Spiritual Money Skills believe there is lack and limitation in the world and this is now reflected in the information new to you about your 401K plan. The ego mind believes that what is happening now is a result of you being over looked by the Universe--you just don't count, the little guy can't get ahead, and you just can't trust anyone.  

Expanding your money IQ means: 

 
It means you now realize that you don't have to worry. Worry is optional!

 

Next month: What Practice looks like with taxes--and the dreaded IRS!

 

You can pre-order the 30 day Money Master Mind Makeover. It will ship on March 1st. Price is $29.95 for the book and companion workbook when you pre-order. After March 1 they will be sold separately.  To take advantage of this offer, click here.

Opportunities to Work with Karen:

January 27 teleclass: Expanding your Money IQ: If you have heard about the Law of Attraction--you don't want to miss this call about the energy of money and balance with all areas of your life. 12pm EST. Click here for to sign up.

 

Feb 3 teleclass: Do you know someone who is out of work or in transition? This class is part two with Lisa Silvershein, MA. (Listen to part one by clicking here). We will focus on 401K's Taxes and Temp or Contract work--what you need to know. Click here to sign up.

From the last class:

"Keep doing what you're doing! I listened to your conversation on the web site about how to deal with money not dwell on it. And was motivated the next day when we received a letter about foreclosure Pending. I called the bank and got a forbearance (excuse my spelling on that.) They gave it to me with no problem! If you had given me that knowledge, I would not have known what to do! Thank you, just keep talking!"
M. S. Hillsbourgh, NJ

Dr. Monroy teaches Sustainable Prosperity, and is a pioneer in the field of nuroeconomics and behavioral economics. Sustainable Prosperity allows us to move through life with ease and grace. We achieve Sustainable Prosperity by Expanding our Money IQ to include 1. Hard Money Skills (financing, credit, taxes, investments,) 2. Emotional Money Skills (our learned, conscious and unconscious thinking and feelings around Money) and 3.Spiritual Money skills with money (working with the essence of who we are, our purpose in life and the energy of money).

 

Dr. Monroy is also the author of Expanding Your Money IQ: Emotional and Spiritual Intelligence for Earth School, the Companion workbook: 30 Day Money Master Mind Makeover and a children's book: Mommy, What is Rich?

Click here to preorder the books.

 

Click here to find out more about Karen at her website.