Money issues span every part of human consciousness. There is no part of us that thinks, feels, or knows that is not intimately affected by money. That is why we need so very deeply to better understand money. In my book, The Colors of Money. Finding Your MoneyForce, I discussed how money works on four distinct but unified parts of human awareness. There is physical money that we touch, and the physical manifestations of that money. There is emotional money, our deep feelings about money and wealth. In the mental plane we think about money and form abstract, but often seemingly concrete theories and philosophies of money. Finally, money has a soul level where we harbor the deep intuitive knowing about money and its true meaning. Each interior level has a color, which not only symbolizes that area but also resonates with, and defines the deepest qualities, attributes and faculties of that aspect. (more…)

One of my clients was blessed early in 2008 with two new grandchildren. As he had done for his previous three grandkids, he opened 529 college savings accounts for the two newest family members, with initial deposits of $500.

At the end of the year each new account was valued at $336.36. He told me, “They would have been better off if I had bought them each a piggy bank and put five hundred-dollar bills in it.” He was right, at least for this year.

Each January, this man adds $500 to each grandchild’s 529 account. This year, he’s hesitating to send in the new deposits. He can’t help but wonder if it would be wiser, just this once, to put the money into CD’s at his local credit union instead. True, the return isn’t much-only three percent-but at least it would be a gain instead of a loss. He’s questioning whether it might be a good idea to get that three percent gain, and then put the money back into the 529 plans a year from now. By then, he hopes, the accounts will have started to recover. Continue Reading at FinancialAwakenings.com »

The Chileans are perplexed with us. On a recent visit to Santiago, Chile, I was talking with a colleague who said, “You were the ones that taught us about the free markets, and now here you are abandoning those principles and moving toward socialism.”

He has a point. I get the growing sense that we are witnessing the transition of our economy from a “market economy” to a “political economy.”

While I’ve been pleased with President Obama’s cabinet selections to date, his January 9 speech at George Mason University was unsettling. Continue Reading at FinancialAwakenings.com»

“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to heaven, we were all going direct the other way - in short, the period was … like the present period.”

This is how A Tale of Two Cities begins, and it is how I began yesterday’s inaugural session of Open Mic.

(Please go to www.edwardjacobson.com for more on Open Mic, and a Jan-Feb schedule)

Yesterday’s launch was wonderful! About 25 people called in, from as far away as South Africa and Italy. We shared perspectives on what’s working to help us regain our balance so we may better serve our clients, and the pain of serving retirees who have seen their assets plummet and who may not be able to “get a job as a greeter at Wal-Mart.”

The next Open Mic: Tuesday, January 20 @ 11:00 eastern (8:00 am pacific). The call-in info: 1 219 509 8322, pass code is 202779#.

Feel free to email me with questions and comments, and to pass along this invitation to others.
Thanks!

Ed

Happy New Year, to everyone! And here’s hoping 2009 is less turbulent than the preceding year.

“May you live in interesting times” is said to be a Chinese curse. I wonder: are the current times interesting enough for you and for your clients yet?

In my many contacts with KI-affiliated financial life planners and others, since things started to implode back in September, I’ve been deeply impressed (but not surprised) with how members of community have responded, both technically and in personally guiding clients through the shoals and rapids. I commend all of you for your commitment, compassion, creativity, and competence. (more…)

I’ve done a lot of pioneering work in the field of uniting traditional financial planning with psychology. I am convinced that ten or twenty years from now, the best financial planning firms will offer an integrated service consisting of traditional financial planning, financial coaching, and financial therapy.

Right now, that is a pipe dream. Very few universities or colleges offer degrees where there is exposure to both disciplines. Click here to read more on FinancialAwakenings.com…