Money. Money! Money?
Is there a topic more fraught with emotion than money!?
I want to talk about it not as an advisor talking with clients, but as an advisor talking to oneself.
There are fantastic, hard-working, diligent advisors out there who do not feel "worthy" of massive compensation.
If that is not you, then feel free to skip the rest of this blog; I am writing it for those who undermine their own success because they don’t feel like they deserve more.
I GET this! I totally GET this!
I make more money in some months than my very hard-working single mother did in a year. That messes with your head a little.
If you don't come from wealth or didn't grow up around it, it can be daunting to feel like you deserve it. If this is something that resonates with you, I want to suggest a reframe that might help if you struggle with feeling worthy:
Look at those around you that have wealth or have the kind of income you aspire to. Ask yourself what makes them inherently more worthy than yourself.
Ask yourself what you would do with the money when you receive it. When you get really clear on all the amazing things you would do with the money, it feels more natural to receive it.
Consider money the evidence of your impact in the world! As you become more effective at what you do, you SHOULD make more money. As you serve more people, you SHOULD make more money. As you become more of an expert in what you do, you SHOULD make more money!
I personally hit a little money block when I was trying to aspire to a significantly higher income than I have historically received. I took these three steps to reframe why I deserve to receive the income I aspire to. As I journaled about this process, this is what I came up with:
"I know many people with far more wealth and income than I have. Some worked very hard for it. Many didn't. Some deliver a lot of value for it, but frankly many don't. I am willing to do the work and deliver a lot of value to my clients. Surely I deserve to make more money!"
I have so many wonderful things I want to do with the income I aspire to:
I want to pay my staff more!
I want to buy a building for my practice so I can create the ultimate client experience!
I want to invest in education to make me better at what I do!
I want to save for my own future and that of my family!
I want to support charities making a difference in the world!
I want to be able to support my friends and family when they are in need!
Heck yeah, I have a very virtuous list of things I would do with that money!
And finally, I truly want to be of service to a lot of people. I am working very hard to create valuable services to offer to my clients. I am sharing a ton of free content to try to make sure everyone in my community is learning and growing. I am willing to do the work to improve my little corner of the financial advisor community; whatever it takes!
After documenting those steps for you, I can tell you right now that I think I DESERVE to make more money. I am not saying I am entitled to it, but when opportunities come up for me to do the work and get compensated for it, I am certain of my own worth.
I challenge you to take five minutes and work through those three simple questions right now. It may just make the difference between being willing to accept mediocrity or reaching for the success you deserve in 2019!
If you need a little more support in this arena, I encourage you to get around other advisors who are trying to make a difference in the world through their work.
Come join the TIA Mastermind Group on Facebook!
It is a FREE group for advisors to come together to share challenges, wins and ideas. Together we all rise!