The Ten Greatest Financial Fears

The Ten Greatest Financial Fears

10. Fear of no control!

Business owners and individuals are growing increasingly uneasy with the sense of their lives and their businesses being out of control. They have no plan or idea on how to take control back.

9. Fear of work load!

We have created the mental addiction that unless our lives are overburdened with work or things to do we will not realize financial health. The concept of taking quiet time to enjoy life does not match up with the idea of financial success.

8. Fear of the empty nest!

People’s financial aspirations are usually attuned to some other purpose in life. As their personal and business families separate due to hectic lifestyles, people are left feeling abandoned.

7. Fear of lack of intellectual capital!

Business owners know they need intelligent, well trained employees for their business to thrive. They are constantly concerned with having the brightest employees, the best trained employees and the most dedicated employees. Individuals are also concerned as to whether they have the proper skills in today’s world to achieve financial freedom.

6. Fear of competition!

Individuals realize that their financial security is now affected by what other individuals do. Their real estate values, investment values and retirement values are subject to change by the actions of other individuals. Business owners understand that their competition generally has the same resources at the same prices as they have. Businesses, therefore, feel the pressure of stronger and tougher competition.

5. Fear of technology!

Technology is driving change in every aspect of people’s personal and business lives. Change is almost always accompanied by uncertainty and fear. Financial wealth that was secure one day can be eroded the next as technological changes drive financial opportunities and create financial hardships.

4. Fear of government!

People no longer have trust in their elected officials or in the political process to do the right things.

3. Fear of the new economy!

It has been over 25 years since we have had a strong recession, and many people have forgotten how to survive a recession. There are several generations of people who have no experience with recessions. Those people have no idea of what a recession is like, or how a recession can impact personal wealth and/or business success.

2. Fear of dealing with people!

People’s biggest headache is usually associated with relationship issues with advisors, employees or people with authority over them.

1. Fear of losing wealth!

People have accumulated a certain amount of wealth, and as we proceed into a new economic time, they are unsure whether they will keep their wealth and lifestyles as they are today.