Therapy for Your Wallet: Rick Kahler’s Guide to Financial Zen

Alright folks, buckle up, because we’re about to dive into the exhilarating world of “Financial Planning and Psychology with Rick Kahler” on the Balanced Advisor Podcast. Dr. Travis Perry, your host, introduces Rick Kahler, who is apparently the Beyoncé of blending financial planning with psychology. Rick’s one of the pioneers of financial therapy, a field that sounds like it was created by and for people who overthink their spending habits.

Rick’s tale begins in the wild world of real estate, where he fancied himself the Einstein of financial planning until he discovered the actual profession existed. Fast forward to the 80s, he becomes the first Certified Financial Planner (CFP) in South Dakota, right around the time “fee-only” wasn’t a thing and NAPFA was just a twinkle in the industry’s eye.

Now, Rick’s epiphany about the link between psychology and financial planning happened after a divorce, some heavy self-reflection, and more therapy than your average Hollywood starlet. He embraced financial therapy with the fervor of a zealot, adding internal family systems (IFS) to the mix because why not complicate things further?

The podcast goes into the nitty-gritty of how Rick and his fellow financial planners have come to realize that workaholism isn’t just a badge of honor but a socially rewarded addiction. Rick, a self-proclaimed “recovering workaholic,” recounts how he used work to medicate pain and how he now aims to be present and aligned with his true self. This enlightening journey involves balancing work and play, as if those two concepts were ever meant to coexist peacefully.

Rick and Travis banter about the importance of self-care routines, whether it’s meditating in the office conference room or working out religiously. They stress that financial planners need to dig deep into their own values and behaviors to truly help their clients. It’s not just about being a better planner but about being a fulfilled human being.

The grand takeaway? If you’re miserable in your job, maybe it’s not the job for you. Profound, right? In the end, Rick advises financial planners to align their lives with their values and joys, ensuring they’re not just crunching numbers but actually enjoying the ride.

So, if you thought financial planning was all spreadsheets and pie charts, think again. It’s a soul-searching, introspective journey where your hobbies might just be as therapeutic as a session with a shrink. And remember, achieving balance in life is key – otherwise, you might just find yourself in a workaholic trap, even if you’re getting paid well to be there.