By: Dan Danford, MBA, CFP, CRSP
Strong anecdotal evidence exists that financial success is linked more to behavior than to income. We see this all the time in our office—people with high income and low net worth, or individuals with low income and high net worth. What accounts for the differences?
A recent book, Mind Over Money: Overcoming the Money Disorders That Threaten Our Financial Health, (New York: Crown Publishing Group) addresses this question in a way that is meaningful for medical professionals. Written by the father-and-son team of Ted Klontz, PhD, and Brad Klontz, PsyD, CSAC, the book features considerable research and includes both clinical and personal insights, as well as a detailed bibliography.