About the Guest(s):

Amy Irvine is the CEO and founder of Rooted Planning Group, a financial planning firm dedicated to fostering authentic money conversations that align with clients' personal goals. Amy has built a career around helping individuals define and achieve their concept of "true wealth," emphasizing financial literacy, personal insight, and strategic planning tailored uniquely to each client. Her collaboration with Money Quotient has further solidified her expertise in creating meaningful financial strategies.

Episode Summary:

In this enlightening episode of Money Roots, Amy Irvine delves into the concept of "true wealth" and challenges the common perception of wealth being synonymous with material riches. Through her experiences, particularly a personal revelation during a hiking trip in the Adirondacks, Amy illustrates how determining what "enough" means is crucial for financial and personal well-being. She emphasizes the importance of identifying one's own tree line, the point where personal satisfaction equates to true wealth beyond the accumulation of material possessions.

Amy further explores the obstacles to financial freedom, citing incorrect money messages and lack of financial literacy as major hindrances. The episode underscores the significance of understanding personal money beliefs—often rooted in childhood experiences and societal influences—and encourages listeners to seek proper financial education. Amy suggests practical exercises and resources that can help listeners gain deeper personal insights and improve financial literacy. The episode also touches on the role of financial security in offering life options, stressing that real wealth is in aligning financial resources with personal values and life goals.

Key Takeaways:

• Defining True Wealth: True wealth is about recognizing and appreciating when you have enough, not merely the accumulation of more.
• Money Quotient Partnership: Rooted Planning Group uses tools from Money Quotient to help clients align financial strategies with personal values.
• Financial Freedom Obstacles: Identifying and overcoming common roadblocks such as misleading money beliefs and a lack of financial education is essential.
• Influences on Money Beliefs: Personal financial values are heavily influenced by childhood experiences and societal norms.
• Financial Literacy Exercises: Engaging in thought-provoking exercises can provide valuable personal insights and enhance financial knowledge.

Notable Quotes:

• "Everybody has that moment that they're like, yeah, this is enough. I don't need any more."
• "Our culture has it at its core, the idea that more is better. Yet the underlying qualities that truly affect happiness are not advanced one wit by having more material things."
• "True wealth is you've realized when your time is where you want it to be, your energy is where you want it to be, and the money that is needed towards reaching those goals is enough for you."
• "Listening to the wrong money messages and lack of financial literacy are the two main obstacles to financial freedom."
• "Money can buy options, and that's something that's really important."

Resources:

• Rooted Planning Group
• Money Quotient
• "Everything You Know About Money is Wrong" by Karen Ramsey

Listeners are encouraged to dive into the full episode for more in-depth discussions and insights into defining personal wealth. Stay tuned for upcoming episodes that will further explore key financial topics, including a profound discourse on defining personal purpose.