Every week, Mary meets with her financial advisor, Breed Holloway, to better understand the financial decisions she's facing after losing her husband.

Their conversations aren't just about retirement accounts, investments, or taxes.

More often, they begin with a question that many of us eventually ask ourselves.

One morning, as they settled into their meeting, Mary looked across the desk at Breed.

"Breed," she asked, "why do you keep asking me about things that happened twenty or thirty years ago? I'm trying to decide what to do now. What does my past have to do with the financial decisions I'm making today?"

Breed smiled.

"More than you might think."

"When people first come to see me, they usually expect our conversations to begin with investments, retirement accounts, or taxes."

Mary nodded.

"Isn't that what financial planning is supposed to be?"

"It certainly includes those things," Breed replied. "But before I can help someone make better financial decisions, I first need to understand the financial experiences that have influenced the way they make financial decisions."

Mary looked puzzled.

Breed continued.

"Some people grew up watching their parents lose everything during difficult financial times.

Others inherited money they never expected.

Some lived through layoffs that changed the way they think about financial security.

Others spent years caring for aging parents.

Some suddenly found themselves making financial decisions after losing a spouse."

He paused.

"Those experiences become part of the backstory behind your financial decisions."

Mary sat quietly.

"I never really thought about it that way."

"Most people don't," Breed said. "But that backstory often influences how much risk you're comfortable taking, how much money you keep in savings, whether you trust financial professionals, and even how confident you feel making important financial decisions."

Mary slowly nodded.

"So my financial decisions today didn't just begin today."

Breed smiled.

"Exactly."

Then he added something Mary would remember for a long time.

"Numbers tell me what happened. Your backstory tells me why."

For a few moments, neither of them spoke.

Mary finally broke the silence.

"I think I'm beginning to understand."

"My financial story didn't begin when my husband died."

Breed nodded.

"No."

"It began long before that."

Last week we talked about the idea that every financial decision has a backstory.

This week, we took that idea one step further.

The financial decisions you make today are often influenced by experiences that happened years—even decades—ago.

Not because those experiences determine your future.

But because they help explain how you approach important financial decisions today.

Take a few quiet minutes this week and ask yourself:

What's one financial experience from your past that still influences the way you make financial decisions today?

You don't need to analyze it.

You don't need to judge it.

Simply recognizing the connection may help you see your next financial decision with greater clarity and confidence.

Because understanding your backstory doesn't change your past.

It can help you make better financial decisions going forward.

Richard Sowa
Founder – Read The Money Mirror

FINANCIAL DECISIONS ARE NEVER JUST FINANCIAL.

Disclaimer: This newsletter is for educational purposes only and does not constitute investment, legal, or tax advice. Always consult a qualified professional before making financial decisions.

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