“I Came from Nothing,” He Said. “I Mean Nothing.”

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It was a sad end. He sent a thoughtful note. The window had closed. It wasn’t anyone’s fault. The timing wasn’t right anymore. They weren’t going to become clients.

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Like all relationships, we spent a considerable amount of time getting to know each other. We talked about his savings accumulated over close to eight decades of living. He’s the millionaire next door. But no one in the neighborhood would know it.

“I came from nothing,” he said. “I mean nothing. We had a roof over our heads. Sure. But that was about it.”

When you grow up like that, it’s something you never forget. The feeling is part of you. The feeling of having nothing. It’s a lifelong reminder. It’s a feeling that can make money decisions brutally hard. It’s paralyzing.

Self-doubt sets in, and confidence is easily shaken. “Why should we change everything now?” she asked. “We have our banking arrangements in place. It’s working well. Isn’t it?” It is. But it might be better with some more help. But it’s that tiny bit of not knowing that makes change hard. Will it be better? Because you know you’re on the hook if it isn’t.

Action Line: Change can be hard, even those you want to make. And it gets harder with age. Making change isn’t intuitive. It takes a leap of faith. When you’re ready to make a change, let’s talk.

P.S. Tomorrow, I want to know, “When Did You Become Serious about Your Money?“

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.