This week, I am showing you an inside look into the MLB retirement plan.

In it, I will show you:

You can check it out here ⬇️⬇️⬇️

I want you to go back in time.

Go back to when you were a kid, and by kid, I mean anytime before you were out of your family’s house.

Now think about a few instances or memories you had with money.

Typically, those are things that you saw your parents, family, or loved ones talking about.

For me, one memory always shines through.

It was 2008…

I bet you know where this story is going…

My parents, much like everyone else, were a tad bit concerned about the economy.

Ok, let’s be real, they were freaking out (just like everyone else).

So my mom, always the rationalist, created a system for keeping spending in check.

Each week, my parents would put money in a drawer in the kitchen.

I still remember where it was.

Right side of the kitchen, top drawer at the end, usually this was the “junk drawer,” but now it was our mini version of Fort Knox.

Each week, every question that had to do with money:

It was always met with, “Is there money in the drawer?”

We weren’t broke, but times were uncertain, and my parents wanted to be prudent with their spending.

That simple action has stuck with me all these years later.

It is a reminder that when times are uncertain, when business feels uneasy, or when you just aren’t sure what is around the corner ~ keep your spending in check.

Now that story is a memory that has created a positive outcome in my financial life.

Yet the reality is that not every memory we have creates a possible ripple. In fact, I would argue that the majority of them create a negative emotion.

Today, I want to talk about how our experiences shape our views, decisions, and framing of money.

Let’s dive in…

I get to meet with tons of interesting people from backgrounds that weave in a million different directions.

Yet even with all those seemingly “different backgrounds,” one common theme remains.

Their views on money are overwhelmingly influenced by their personal experiences with it.

So said another way, ~ Their money experience, which equates to something like .00000000000001% of all money experiences equate to 99% of how they process their money decisions.

That would be the equivalent of me telling an NBA player that their game plan was not going to work because I had only been to one NBA game in life and a similar game plan imploded (and I sat in the stands and didn’t play).

Yet no matter how much we know that to be the case, it is still a struggle.

Use me as an example…

This past year, my wife and I bought a new house.

Even though when I rationally looked at my finances, every metric said, if this is valuable to you, you can buy it.

My head always reverted back to the former athletes I had seen buy too much house after their playing career ended, only to see the cash outflow cripple them.

I am talking about seeing teammates go from making tens of millions to bankruptcy filings…that will stick with you.

So while my situation might have looked very different than those athletes, it was those experiences that were weighing on my thinking.

Now your experiences might be nothing like that, but they might be something like:

You see, our experiences overwhelmingly shape how we think about money.

Whether we like it or not, they find themselves woven into every money move we make.

So what should we do about it?

Well, first, we shouldn’t ignore those experiences. They can be incredibly valuable.

Yet, we should articulate them and be aware of the potential blind spots they create.

This is why there is incredible value in having someone else provide an external view on big money moves.

Done right, it sheds light on your potential blind spots and helps you make decisions that are both reasonable (so you aren’t stressed about it) and rational (the right spreadsheet decision).

So remember, the next time you are making a big money decision, ask yourself if your personal experiences are hindering your decision-making.

Until next time my friends!

Does the “Non CFO Spouse” know the plan?

If you are supporting someone else and they are the “non CFO” of the relationship.

Do you have a plan in place should something happen to you?

I know it sounds grim, but it is important to think about this.

Who would they call, what should they know, and how will they organize everything going on with your finances?

______________________

💰 Schedule an introductory call with Moment. We help athletes, entrepreneurs, and key employees build and protect wealth.

📹 Check out my YouTube channel. A safe place to get smarter with your money.

📷 Interact with me on Instagram. I provide bite-sized daily content to level up your money game.

Moment Private Wealth, LLC is a Registered Investment Advisor, located in the State of Missouri. Moment Private Wealth provides investment advisory and related services for clients nationally. Moment Private Wealth will maintain all applicable registrations and licenses as required by the various states in which Moment Private Wealth conducts business, as applicable. Moment Private Wealth renders individualized responses to persons in a particular state only after complying with all regulatory requirements, or under an applicable state exemption or exclusion. Nothing in this content is intended to be, and you should not consider anything in this content to be, investment, accounting, tax, or legal advice.