Episode 257: Addiction & Your Money with Karen Coyne, CFP®

How does addiction impact financial planning, and why is it so often left out of the conversation? In this thought-provoking episode, Melissa Joy, CFP®, dives deep into this sensitive yet critical topic alongside Karen Coyne, CFP® of Clarity Planning. Karen shares her personal journey and highlights the significant gap in financial planning education when it comes to addiction and its far-reaching effects on individuals and families.
Melissa and Karen explore practical tools for addressing these challenging conversations and discuss how financial advisors can better support clients navigating the complexities of addiction. They also delve into the psychological allure of risky financial behaviors like cryptocurrency and meme stocks and the impulsive decisions these trends can inspire.
Plus, Karen shares a personal story about teaching her son the importance of financial education, emphasizing the value of open, honest communication in safeguarding your financial future.
What You’ll Learn:
The often-overlooked link between addiction and financial planning
Practical ways financial advisors can approach sensitive client challenges with empathy
The psychological appeal of high-risk financial behaviors like crypto and meme stocks
Strategies for fostering transparency and self-awareness in financial discussions--
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