I’ve inherited some money, and I feel ____
Guilty? Fear? Shame? Nervous? Reckless?
These are just some of the feelings that can come up for us when we’ve inherited money.
Inheriting money can bring about some strong emotional reactions and challenges. It can feel very lonely if you are in this situation, and it’s not something that is easy to talk about.
It’s not unusual to feel that you are the “custodian” of inherited money, especially if children are involved. This can lead to putting yourself under all kinds of pressure, and even cause anxiety and fear.
Guilt is another common emotion we see come up with inherited money. Sometimes we want to ignore the money, or hope it goes away. Because fundamentally we would rather have the person we lost back than the money. Shame is another emotion that can come up. Strong stuff!
We also talk about how the person died can influence how we think and feel. How we react to the loss of someone after a long illness and can be very different to a sudden death, such as suicide.
We are going to share some stories that we’ve experienced personally and professionally.
We hope that this episode can help you think and feel differently and any money you have inherited.
If this episode strikes a chord with you, please remember that we are financial coaches as well as financial advisers, and this is actually an area we are experienced at helping people with. So do get in touch if you would like some support.
Julie Flynn is an experienced independent financial adviser and financial coach. Justice and equality drive Julie. Which is why she’s spent years studying and researching how stress affects our financial decision making.
She uses her years of experience and research to support women experiencing or planning significant change in their lives.
Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.
Michelle Lambell started her career in financial services as a Stockbroker in 1999 undertaking both advisory and discretionary investment management. Following a career break where she spent time being a mum and running an arts and crafts business, Michelle returned to financial services in 2013 undertaking further study.
Today she is a Chartered Financial Planner, specialising in retirement planning advice, pensions and investments and a Certified Financial Coach. Michelle has a passion for providing financial advice, guidance and education to everyone, regardless of their gender, age or current circumstances.
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Emily Pool is a Financial Planner and Will Writer and Founder of Happy Planet Financial Planning and is passionate about empowering people to invest their wealth (pensions and savings) sustainably and in line with their personal values.
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Disclaimer: The information provided in the Women and Money Café Podcast and Website does not constitute financial advice and nor should it be taken as such. They are thoughts and discussions in around money and possible options available to you. Whilst all attempts are made to provide accurate information at the time of publishing you should seek your own clarification . Should you require advice for your specific set of circumstances contact a qualified, authorised financial adviser directly.