EP 263: Perception vs. Reality: Understanding Your Money Mindset

On the Trust the Plan Podcast, Jim Pilat, CFP® and Preston Gee, CFP® discuss the concept of "money dysmorphia," a psychological phenomenon where people perceive themselves as having more financial stability or wealth than they actually do.

They explained how this distorted view can lead to poor decision-making and unhealthy financial habits, as people might feel financially secure when, in reality, they’re not. They emphasized that our feelings about money and finances often don’t reflect the true reality of our situation, pointing out that our perceptions can be misleading and cause unnecessary stress or overconfidence.

It’s a reminder to develop a clear, honest understanding of our finances rather than relying on a skewed sense of security.

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Peak Wealth Management is a financial planning and wealth management firm in Plymouth, MI. We believe by providing education and guidance, we inspire our clients to make great decisions so they can Retire With Peace of Mind.

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