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Navigating Your Financial Journey

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How might our emotions influence our financial decision-making? In this video, Joe Duran and Cynthia Loh from Goldman Sach’s Personal Financial Management division touch on what we can (and can't) control, how to establish good money habits, and explain when it might be time to work with a financial advisor. They also share their experiences, and discuss the following foundational concepts for understanding how our lives and money connect: 

Understanding the 3 Money Mindsets: 

  • Happiness: A focus on enjoying what money can provide
  • Protection: Seeking security and peace of mind
  • Commitment: Caring for people and causes you love

Having a Constructive Decision-Making Process

  • To help make sure our emotions don’t override what’s best for us

Acknowledging The 5 Things We Can Control in Our Financial Lives: 

  • How much we spend
  • How much we save
  • The timing of life events
  • Our tolerance for risk
  • How much of a safety net we want to have

We hope you enjoy this dialog, which frankly addresses the emotions and tendencies that are always at stake when we talk about money. To find out which Money Mindset most influences you, you can take PFM’s MoneyMind Quiz.

United Capital Financial Advisers, LLC d/b/a Goldman Sachs Personal Financial Management (“GS PFM”) is a registered investment adviser and an affiliate of Goldman Sachs & Co. LLC (“GS&Co.”) and subsidiary of The Goldman Sachs Group, Inc., a worldwide, full-service investment banking, broker-dealer, asset management, and financial services organization. Advisory services are offered through United Capital Financial Advisers, LLC and brokerage services are offered through GS& Co., member FINRA/SIPC.

GS PFM makes recommendations based on the specific needs and circumstances of each client. Clients should carefully consider their own investment objectives and never rely on any single chart, graph, or marketing piece to make decisions. Investing involves risk, and investments may lose value. There are no investment strategies that guarantee a profit or protect against loss.

GS PFM does not provide legal, tax, or accounting advice. Clients should obtain their own independent legal, tax, or accounting advice based on their particular circumstances.

The information contained herein is intended for informational purposes only, is not a recommendation to buy or sell any securities, and should not be considered investment advice. The material is based upon information which we consider reliable, but we do not represent that such information is accurate or complete, and it should not be relied upon as such. The information, data, analyses, and opinions contained herein include confidential and proprietary portfolio information of GS PFM, may not be copied or redistributed for noncommercial or personal purpose without GS PFM’s expressed permission.

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Marcus by Goldman Sachs is a brand of Goldman Sachs Bank USA, which is an affiliate of United Capital Financial Advisers, LLC d/b/a Goldman Sachs Personal Financial Management.