Wealth Psychology and Financial Therapy Stir up all Kinds of Emotions

Jamie Traeger-MuneyWealth psychologist, Jamie Traeger-Muney, is finding herself more and more in the role of thought leader in a field that is evocative and controversial.  Her message is consistent and clear - vilifying the rich is harmful to society. Polarizing statements that put everyone into one group and speak uniformly about those who have the same identified characteristics leads to furthering the problems we seek to change. The media plays an important role in either fanning the flames of hostile envy and micro (and macro) aggression against the wealthy, or in educating everyone about how to build bridges and bring disparit groups together by identifying common experiences and how we are all uniquely human.

We continue to make a concerted effort whenever we are approached by a reporter to speak on behalf of the marginalized and isolated clients we serve who often feel they need to have their wealth remain hidden for fear of judgment, attack, and shame. We have yet to see where shaming someone leads to a positive outcome.  It is our sincere hope, as well as our expressed purpose, to shine a light on dysfunctional approaches to wealth-disparity and to bring about a shift in thinking and speaking about those who are considered wealthy. A wise man once said: "If you want to be rich, bless them, instead of criticizing those who are."

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The Inheritor's Dilemma: How to Claim Your Identity in the Face of New or Inherited Wealth

meteorThe word is getting out about the profound impact sudden money and inherited wealth can have on a person's life and well being. 

It was only through a fluke that we became aware that our founder and thought leader in the arena of wealth psychology, Dr. Jamie Traeger-Muney, was quoted not only by Barclays, but also in "Wealth Arabia Magazine".

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Wealth Psychology Show: Leaving a Lasting, Positive Legacy!

Michael Palumbos.jpgOn Sylvia Global's Wealth Psychology Show with Dr. Jamie and Emily, we tackle some important and relevant topics when it comes to estate planning – touching on not only the “head”, but more importantly the “heart” of what’s really important to anyone who cares about leaving a lasting, positive legacy.

Our guest this week is Michael Palumbos, a second-generation family business owner, nationally recognized speaker, author and coach for families serious about avoiding the shirt-sleeves to shirt-sleeves in three generations syndrome that befalls more than 70% of families. He has appeared in national publications, such as, Family Business Magazine, MyBusiness Magazine, Reuters and Forbes.com.

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Are you one of 125 million adults in North America without a Will?

Willing-Wisdom-Book-CoverOn Aug. 27th we will be speaking with Dr. Tom Deans, author of the new book: "Willing Wisdom" to discuss why having a will -- which, by the way, only costs $500 on average -- is so often avoided - and what we can do about it!

On this edition of Sylvia Global Media's Wealth Psychology Show with Emily and Dr. Jamie, we will explore why more than 125 million US and Canadian adults don't have a will and why this is a tragedy Dr. Deans is passionate about rectifying. During this interview, we will address:

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Town & Country Magazine: Inheritance Guide

town and country1Town & Country magazine's August edition has a special "Inheritance Guide" that includes tips from Wealth Legacy Group's founder, Jamie Traeger-Muney on what to do when you first experience an unexpected windfall.  According to Dr. Traeger-Muney, it is important to allow yourself "time to make a plan, so you're not shooting from the hip...Like any big transition, inheritance comes with a certain amount of emotional baggage. It brings the opportunity for freedom, which is positive. But it also creates unique challenges."  Read the full article

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Wall Street Journal

Emily Bouchard, managing partner of Wealth Legacy Group, is quoted in the Aug. 3, 2013 edition of the Wall Street Journal in Kelly Greene's article on Gandolfini's will as it relates to Blended Family estate planning. Excerpt: Treating your children differently. As part of his estate plan, Gandolfini left a large life-insurance policy to his son in a trust that shields it from tax. His will doesn’t refer to a similar arrangement for his young daughter, says Emily Bouchard, managing partner of Wealth Legacy Group in San Rafael, Calif. Of course, Gandolfini could have left documents that aren’t public that could explain the discrepancy. Still, “he’s done something in his estate plan that might have been fair, but not equal,” Bouchard told Greene. “It creates questions in the minds of the children, ‘Did he care more about him than me?’ When there’s a void of information, you fill it with the worst-case scenario.” Read more at MarketWatch...


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Inheriting an Unexpected Windfall - Protect Yourself from Losing it

town and countryWhile boarding a plane to Orange County I stood behind a man who looked like Santa Claus who had just stepped off a Harley, with his Marine Veterans cap and rough look in his eyes. During our brief interaction, he shared with me that he had traveled from North Carolina with a one way ticket to pick up his wife’s inheritance of $2 million from her 84 year old sister. His plan was to collect the money, deposit it in a bank at the airport, and then use some of the money to purchase his ticket home.  He explained that he lived on $700/month and didn’t have the cash on hand to pay for his flight on his own.

I was perplexed and a bit dismayed if his story was actually true. I quickly acknowledged him for telling me, and strongly recommended that he not tell anyone else what he was up to. I then did my best to caution him, telling him that without the right preparations and planning, that money would likely be gone within 19 months. He laughed me off, telling me he knew all about that statistic and that he didn’t plan on being like one of those fools. Then he proceeded to tell me all the things he was going to spend the money on, and I listened as my heart sank, knowing what lay ahead for him.

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Money Patterns Revealed: Understanding Money Habits and Behaviors that Keep Repeating

moneymagiccoverJoin us to learn more about why you keep repeating the same conversations, arguments, mistakes, or having the same challenges when it comes to money in your life.

In 2004, I started working with families on the successful transitioning of wealth from one generation to the next.

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Wisdom about Wealth: What to Do when you Marry Someone Conflicted about their Wealth


Do you experience conflicting emotions related to the degree of wealth you have?

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Guardians and Trustees: When and How to Prepare Beneficiaries

Cycle of the Gift Cover

During our interview with authors and wealth psychology professionals, Keith Whitaker and Susan Massenzio, we received listener questions related to the impact of gift giving on inheritors.  We ran out of time before we could respond to the following question on air - here's the question and our response:

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Inheritor’s Dilemma: Paperwork Avalanche


Join us LIVE Tuesday, February 26th 8-9am pacific time for a lively, informative discussion focused on the emotional impact of receiving an inheritance.

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