How To Overcome Financial Fear And Perfectionism To Live A Life Of Financial Wellness With Brooke Napiwocki

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Summary:

[129] – Financial wellness can seem elusive, with many hurdles to overcome, but today we’re tackling two major obstacles that often stand in the way of women’s financial success: fear and perfectionism. These barriers prevent women of all ages from feeling confident in their financial decision-making and can limit their ability to achieve financial wellness.

In this episode, Jeremy Keil and Brooke Napiwocki talk about financial wellness for women. From Be Financially Well’s female-focused workshops to the five key elements of financial wellness (beliefs, behavior, worth, wealth, and purpose), Brooke provides actionable insights and strategies for women of all ages. Brooke shares a wealth of information and resources to help women overcome these challenges and live fulfilling financial lives. Learn how to overcome fear and perfectionism, navigate retirement planning hurdles, and more in this educational discussion.

Brooke discusses:

• What prompted Be Financially Well’s female-focused workshops and how they work
• The 5 elements of financial wellness: beliefs, behavior, worth, wealth, and purpose
• How fear and perfectionism prevent women of all ages from being financially confident
• What the biggest hurdles are that women face going into retirement
• And more

How To Overcome Financial Fear And Perfectionism To Live A Life Of Financial Wellness

Many women have feelings of fear and anxiety when it comes to money. It is important that women work on these feelings so they can feel confident in the financial world. Below are some tips on how women can start growing their confidence so they can live a life of financial wellness.

Be Aware of Feelings Around Money

There can be a lot of feelings around money that we try to ignore. Whether it’s the feeling of fear or anxiety, it is important to be aware of the kind of feelings you’re having when it comes to money so that you can work on them.

Start your Financial Education Young

It can be scary if you are usually dependent on someone else to take care of your finances and that person one day isn’t there to help you. This is why it is important to expose yourself to handling your finances as soon as possible. 

Starting young will be beneficial over time. You will be able to gain confidence in yourself in the world of finance and continue growing to ensure you are able to live a life of financial wellness.

If you have children, consider exposing them to money at a young age by bringing them along with you on your financial errands and allowing them to practice it when there’s a chance. Have that conversation with them that will prepare them for the future.

Be Aware of How Time, Fear, and Perfectionism Can Harm Your Financial Confidence

Time, fear, and perfectionism can prevent people, especially women, from feeling fully confident when dealing with their finances. There is a confidence gap when it comes to men and women. Women tend to have perfectionist tendencies where if they feel that they would not be good at it or they won’t know all the answers, then they feel like they are unable to move forward. 

When it comes to time, it is important to remember that your time needs to be used wisely. Prioritizing yourself is necessary to grow over time and prepare for the future. 

If you constantly have a fear of making mistakes, it will hold you back from achieving something that could be greatly beneficial. Try to take risks and reach your full potential.

Perfectionism is something that is unachievable. It is important to be cautious and educated, but try to take some action along the way. Try to push through it and be brave.

Get involved and speak to financial advisors to get advice to help you along the way.

Don’t be afraid of retirement!

Working with professionals can help with the anxiety leading up to retirement. The best way to get through this fear is to work through it, evaluate the situation, and create a plan.

Statistically, women tend to live longer, so they need to be involved in financial decision-making in a relationship. It is essential that both spouses are involved. Talk to your spouse about planning for healthcare and long-term care, as well as any other potential retirement planning needs.

Try thinking about what you need to know if your partner is no longer there to manage the finances. Communicate your concerns and work through them as a team to make sure you are prepared.

It is essential that women take the time to overcome the fear of finances. As scary as it is stepping into something so big and important, women need to focus on themselves to grow their confidence in the financial world so that they can live a knowledgeable and confident life.

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To learn more about overcoming financial fear, check out the resources below!

If you have any questions, feel free to contact us or our guest, Brooke Napiwocki, using the contact information provided below!

Resources:

• Federal Reserve Bank of Minneapolis: Gender and Financial Literacy
• TEMPO Talks: Reimagining Retirement
• TEMPO Milwaukee
• Investopedia: What Is a Bull Market, and How Can Investors Benefit From One?
• The Upgrade: How the Female Brain Gets Stronger and Better in Midlife and Beyond by Louann Brizendine
• How to Stay Financially Fit as You Grow Older With Barbara Micheletti, MS, Gerontologist
• Free Retirement Planning Video Course: 5stepretirementplan.com
• 3 Things You Should Know Before Choosing A Financial Advisor
• 7 Questions That Could Make or Break Your Retirement
• Subscribe to Retirement Revealed on Google Podcasts
• Subscribe to Retirement Revealed on Apple Podcasts

Connect With Brooke Napiwocki:

• Be Financially Well
• Pegasus Partners
• LinkedIn: Brooke Napiwocki 

Connect With Jeremy Keil:

• Jeremy@keilfp.com
• 262-333-8353
• Keil Financial Partners
• LinkedIn: Jeremy Keil
• Facebook: Jeremy Keil
• LinkedIn: Keil Financial Partners
• Book a call with Jeremy

About Our Guest:

Brooke Napiwocki, Wealth Advisor at Pegasus Partners, specializes in couple-friendly planning, education funding, post-divorce financial strategy, and values-based planning for mid-to-late career professional women and couples. She also founded Be Financially Well, LLC. Previously, Brooke worked for eight years in wealth management and eleven years in commercial banking with business owners, non-profits, and large institutions as a Senior Vice President/Director of Commercial Banking.

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