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Myth and Truth


Common limiting beliefs about money often stem from misconceptions, negative experiences, or cultural conditioning. Here are a few common ones along with the truths that counter them:

Belief: Money is the root of all evil.

Truth: Money itself is neutral; it’s a tool that can be used for good or bad purposes. The way people use money determines its moral value.


Belief: Rich people are greedy or unethical.

Truth: Wealth is not inherently linked to greed or unethical behavior. Many wealthy individuals contribute significantly to society through philanthropy and ethical business practices.


Belief: You have to work extremely hard to earn a lot of money.

Truth: While hard work is important, smart work, leveraging opportunities, and making wise financial decisions also play crucial roles in wealth accumulation.


Belief: I’m not good with money.

Truth: Financial literacy can be learned. With the right education and tools, anyone can become proficient in managing their finances.


Belief: I don’t deserve to be wealthy.

Truth: Everyone has the right to financial well-being. Self-worth should not be tied to financial status.


Belief: Money can’t buy happiness.

Truth: While money alone cannot buy happiness, it can provide security, opportunities, and the ability to support causes and experiences that contribute to a fulfilling life.


Belief: It’s too late for me to become financially successful.

Truth: It’s never too late to start improving your financial situation. Many people achieve financial success later in life through informed decisions and strategic planning.


Belief: Saving money means sacrificing enjoyment.

Truth: Saving money does not mean giving up enjoyment. It means prioritizing spending and finding a balance between enjoying the present and securing the future.


Belief: Investing is too risky.

Truth: All investments carry some risk, but with proper research, diversification, and risk management, investing can be a powerful tool for growing wealth.


Belief: I’ll never get out of debt.

Truth: Many people have successfully eliminated debt with a disciplined approach, budgeting, and possibly seeking professional advice.


Overcoming these limiting beliefs involves challenging them with facts, seeking financial education, and adopting a positive mindset towards money.

Through a shared commitment, we will make your dream a reality.

(D- Discipline, R- Routine, E- Education, A- Action, M- Mentality)


"Wise is the individual that plans for what is difficult while it's easy and plans for what is great while it is small."

- Sun Tzu -

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LOCATION


320 Morrison Park Drive, Suite 100
Southlake, TX 76092

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CONTACT


Office: 469-921-3595
fredericke@encompassassociates.com

Disclosure

Frederick Ehinmiakhena is an agent of and licensed to sell insurance through New York Life Insurance Company and may be licensed with various other independent unaffiliated insurance companies in the states of AR (AR Insurance License #17052234), DC, and TX. No insurance business may be conducted outside the states referenced.

Frederick Ehinmiakhena is a Registered Representative of and offers securities products & services through NYLIFE Securities LLC, Member FINRA/SIPC, a licensed insurance agency, and a wholly-owned subsidiary of New York Life Insurance Company, 320 Morrison Park Dr Ste 100, Southlake, TX, 76092, 469-921-3595. In this regard, this communication is strictly intended for individuals residing in the states of AR, CA, CO, DC, and TX. No offers may be made or accepted from any resident outside the specific states referenced.

Frederick Ehinmiakhena is also a Financial Adviser with Eagle Strategies LLC, a Registered Investment Adviser, and a wholly-owned subsidiary of New York Life Insurance Company, offering advisory services in the states of AR, CA, CO, DC, and TX. As such, these services are strictly intended for individuals residing in the states referenced.

Neither New York Life Insurance Company nor its agents or affiliates provide tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professional before making any decisions.

For more information about NYLIFE Securities LLC and its investment professionals.

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Encompass logo
  • OUR FIRM
    • Our Promises
    • What to Expect
  • OUR PEOPLE
    • Meet Our Founder
    • Strategic Alliances
  • WHO WE SERVE
    • Our Clients
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    • Services for Pre-Retirees and Retirees
    • Services for Athletes and Entertainers
    • Services for Technology Professionals
  • ENCOMPASS ENGAGE
    • Services
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  • THE ENCOMPASS MINDSET
    • Myth and Truth
  • RESOURCES
    • Articles
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    • Helpful Links
  • CLIENT CENTER
    • Eagle Strategies/NYLIFE Securities
    • NYLI Funds
    • Emoney
    • New York Life
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