By Rick Kahler via Iris.xyz
“Everybody gets weird around money.”
This was one of many great one-liners about money from my good friend and financial philosopher, the late Dick Wagner, CFP.
Dr. Moira Somers, a psychologist from Winnipeg, Canada, agrees. In her new book, Advice That Sticks, she says, “Most people are at least mildly crazy when it comes to money. I can say ‘crazy’ with some authority. I am, after all, a psychologist. I know crazy when I see it. And there is nothing—not full moons or federal elections or family get-togethers—that draws the crazy out of people faster than money.”
Somers also quotes Geneen Roth, whose book Lost and Found describes losing her life savings to Bernie Madoff: “It seems that money, even more than food, activates our survival instinct and makes wise, otherwise rational people behave like starving dogs. Any distorted or frozen patterns in our psyches will inevitably show up in our relationship with money, which makes it the ultimate repository for shadowy behavior.”
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