Why Do We Get So Emotional About Money?
Money isn’t just numbers and cents—it’s deeply personal, a reflection of our values, our upbringing, and our life experiences. For many, discussing finances can evoke powerful emotions, from pride and confidence to fear and anger. Take the case of a man I know, a retired journalist in his 60s, who spent the better part of his life as a writer for a major newspaper. Laid off a decade ago because he couldn’t adapt to the changing landscape of media, he now spends his retirement reading and pondering big questions about the world.
In our conversations, he often dives into conspiracy theories and the evils of big banks, the government, and modern finance. His views, though not entirely unreasonable, often walk the fine line between insightful and eccentric. It’s clear that money—and how it’s controlled—strikes a deep chord for him, as it does for many others. This begs the question: why do discussions around money, finance, and economics provoke such strong reactions?
Need Help With Your Retirement?
Money: A Reflection of Our Identity
At its core, money represents more than just a means to buy goods and services. It can symbolize security, freedom, and even self-worth. For many of us, the way we view money is shaped by our life experiences—how we were raised, our personal financial struggles, and our successes. When money is at stake, so are the values we hold dear.
In the case of my retired journalist friend, his financial outlook was shaped by a career spent reporting on the world, only to find himself sidelined in a rapidly changing industry. The financial landscape moved on, embracing new media and digital strategies that didn’t resonate with his traditional skill set. He felt left behind, and with that came a mix of resentment and mistrust toward the systems he believed had failed him.
The Dogma of Personal Finance
The world of finance can feel like a battlefield of competing ideologies. Some people swear by investing in stocks, while others staunchly defend real estate. There are advocates of frugality, and then there are those who believe in taking calculated risks. We can become so attached to our chosen methods that we push our ideas on others with unwavering conviction, often without realizing that what works for us may not be universally applicable.
Why do people become so dogmatic about their financial beliefs? Part of it is because financial decisions often feel like moral decisions. We judge others (and ourselves) based on how money is earned, spent, and saved. Our financial habits become an extension of our character, and when those beliefs are challenged, it can feel like a personal attack.
For my friend, the anger toward modern financial institutions and economic structures stems from a personal narrative—feeling betrayed by a system that didn’t value the skills he spent his life honing. When we have strong opinions about money, they often come from a place of personal experience or perceived injustice, which can make us resistant to alternative perspectives.
Why Financial Misinformation Thrives
Conspiracy theories about money and finance aren’t uncommon. From the gold standard to cryptocurrency, alternative financial theories abound, and while some of these ideas hold grains of truth, many stray into unverified territory. People gravitate toward these theories because they offer explanations for complex issues, and often, they provide a scapegoat—a target to blame for financial misfortunes.
When someone has felt powerless in the face of financial upheaval, it’s easy to see why they might latch onto these narratives. It gives a sense of control to think that one has uncovered a hidden truth, even if it’s one that paints banks, governments, or “the system” as the villain. This is where it becomes crucial to remain open-minded and not let frustration cloud our judgment.
Finding Balance in Financial Perspectives
While it’s easy to become set in our ways, it's important to recognize the fluid nature of personal finance. What worked yesterday might not work today. The man I spoke to saw his career crumble as traditional media faltered, and his frustration was understandable. But what if he had been more open to learning about the changes in the industry rather than resenting them? Could he have adapted his skills and thrived in the new landscape?
In finance, like in life, adaptability is key. We must be willing to learn and evolve our views when presented with new information. While having strong financial beliefs is not inherently wrong, the danger lies in becoming so dogmatic that we shut ourselves off from other possibilities. This rigidity can prevent us from making informed decisions or recognizing when our chosen path may no longer serve us.
Staying Open While Staying Informed
The conversations I’ve had with my retired journalist friend have taught me the importance of listening, even when opinions differ. He isn’t entirely wrong in his skepticism of certain financial institutions or economic trends, but his views are limited by his unwillingness to embrace new perspectives. It’s a lesson for all of us to be open while still doing our due diligence.
We may not have all the answers, but we can make informed decisions by staying curious, questioning dogma, and learning from diverse sources. When discussing money, remember that behind every opinion lies a personal story, often one of struggle, frustration, or hard-won success. By recognizing the emotional underpinnings of these views, we can foster more constructive conversations, helping each other navigate the complexities of finance without letting emotions take the wheel.
Final Thoughts
Money will always be an emotionally charged topic because it’s tied to our most basic needs, our aspirations, and our sense of self. But we must remember to approach financial discussions with an open mind and a willingness to learn. It’s natural to feel strongly about something that has such a profound impact on our lives, but letting go of dogma can free us to adapt, grow, and make choices that truly serve our future.
It’s not always about winning or proving our point—sometimes it’s about finding a balance that allows us to move forward with peace of mind. And above all, it’s crucial not to lose ourselves in the pursuit of financial success or in the quest to defend our beliefs. We are more than the sum of our financial decisions, and our worth extends beyond our bank accounts or investments.
In the end, finance is not about being right; it’s about making the best decisions with the information we have, staying true to ourselves, and always being ready to learn when new information comes our way. Let’s keep the conversation going, not as rigid defenders of our own views, but as open-minded explorers of what’s possible.
Found this helpful? Share this article with friends and family who might benefit from understanding their Social Security options.
Need Help?Â
Need some additional help with your calculations? Click here or answer this form to set an appointment with a pension expert who can answer your questions.
The information provided is for general purposes and does not constitute financial advice. Your data will only be used to respond to your inquiry.
The Value of a Tailored Approach
No two retirement plans are the same. Every factor—income, lifestyle preferences, savings habits—plays a unique role in shaping your ideal retirement. A personalized approach helps you pinpoint what you need and, more importantly, how to get there. That’s why we developed our Free Personalized Retirement Assessment Form—to simplify this journey and bring focus to what matters most.
Our Retirement Assessment Form offers a straightforward way to check in on your progress, evaluate key financial factors, and set a clear path forward. By answering a few focused questions about your finances, you’ll receive a snapshot of your current standing, highlighting steps you can take to strengthen your financial future.
FILL OUT ASSESSMENT FORMNUTS & BOLTS
How It Works
Using our tool is designed to be quick and insightful. Here’s what you can expect:
- Input Key Information: Provide details like your income, current expenses, retirement accounts, and general retirement age goal. This information helps us assess your current financial health and needs.
- Receive Your Personal Snapshot: With this input, we’ll generate an initial overview of your retirement readiness. This serves as a helpful guide, showing you where you stand and any adjustments that could help you reach your goals.
- Focus Your Strategy: Use these insights to shape your approach. Whether it’s saving more, recalculating your expenses, or rethinking your target retirement age, these personalized recommendations keep you informed and on track.
Why Start Now?
Retirement planning can feel overwhelming, but delaying it could lead to missed opportunities for growth and savings. Even a small shift in your strategy today can have significant impact years down the line. Assessing your financial standing now means you have the time and information needed to make intentional, strategic decisions that align with your goals.
Take the First Step
Planning for retirement is about more than finances; it’s about creating the future you want. Our Retirement Assessment Tool is here to help you take that first step with clarity and confidence. Complete our form to receive your personalized snapshot, giving you actionable insights to shape a fulfilling retirement.
Today is the perfect day to begin planning for tomorrow. Start your journey with us, and let’s build a future you’ll look forward to.
This Assessment Is For You If...
- You’re considering retiring within the next 5, 10, or 20 years and want to plan accordingly.
- You’re balancing retirement planning with other financial priorities, such as a mortgage, education expenses, or healthcare.
- You want to better understand the cost of living in retirement and how it may differ from your current expenses.
- You want to better understand the cost of living in retirement and how it may differ from your current expenses.
- You want personalized insights without committing to a full financial consultation just yet.
LATEST FROM THE BLOG
Level Up Your Financial Skills
Our helpful guides has everything you need to better understand your current financial situation and plan for the future.
Stay Updated!
Love staying informed? Subscribe to our blog and get notified whenever a new post is published! Stay ahead with tips, updates, and insights delivered straight to your inbox.
We value your privacy. Your email will only be used to send blog updates, and you can unsubscribe anytime.