The key to financial success is the creation and long-term financing of the financial plan. Sometimes it's easier than this.
How mental health causes financial planning
The stress of your life's three domains may be your financial plan compulsory
Economic / economic events
- Markets fluctuations, bad news, recessions, employment, interest rates rises, etc.
- Death spouse, divorce, civil status changes, injuries, career change, etc.
Physical / psychological illness
- There is mental health (ie, well-being, potential, normal stress and mental illness), dementia, mood and anxiety, excessive disorders and, of course, psychotic disorders, etc.
Attacks in these three areas can affect your mental health and may have financial impact on your decisions.
We face stress, fight, flight or freeze.
- BORROKA: They can be aggressive, we react emotionally and make short-term and decisive
- FLIGHT: We can not take decisions, deny or avoid them.
- Freeze: We can move forward or paralyze, when we make decisions we can not even entertain
All of these reactions can hinder your financial plan's success.
It's as important as the financial planner to know current common Canadian health problems today. The following are:
- Reduced financial capacity
- Substance abuse
- Arazoren game
Any of these issues could be a financial disaster for your financial well-being.
The duty of financial advisor
The assessment of privacy between privacy and confidentiality is paramount. However, this does not mean that you do not have an obligation to protect yourself from your own client. Focusing on industry experts, robust support and ongoing training to detect warning signs and legal limitations.
Facing the financial crisis
The best time to face the financial crisis occurs five years before. Now, it is time to talk about potential issues facing clients and consultants and explain how a document can lead to the emergence of a mental health problem.