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May 09, 2007
Podcast for 5/8/07: Interview with Alan Deutschman
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Kim interviews Alan Deutschman about his new book, Change or Die. They discuss the psychology of change and how it applies in situations such as life and death and our financial decisions.
MP3 Download: Hi (128k) | Lo (24k)
Length: 30:05
Notes:
2:35 Alan talks about what he set out to do with his book and what he learned.
4:08 Even heart patients who are told to change their behavior or they'll die, 9 out of 10 still don't change.
4:50 Refusing to change doesn't seem rational. When people are presented with facts and fear, that doesn't help them change.
6:10 When something is too frightening to think about, we avoid thinking about it.
8:10
One of the most important psychological concepts Alan explains in the
book is the power of community and culture. We learn best when we're
together, when we're learning with other people.
10:00 Alan
describes the Delancey Street Foundation in San Francisco, which
rehabilitates violent criminals and transforms them into sober,
nonviolent contributors to society.
12:55 Force also doesn't seem to work when affecting change.
15:55 So many self-help programs and diet programs don't work as advertised unless they have a community involvement.
17:25 The first key to change is "Relate." Have a relationship with someone or a community that inspires hope.
18:52 Alan explains the second key to change: "Repeat."
20:40 Alan explains key #3: "Reframe."
22:30 Alan explains why people are so ingrained in their financial beliefs that it's hard for them to change their habits.
24:50
The most important influence on learning is other people. Facts, fear
and force don't work, but help from friends does. Peer pressure is
effective at all ages.
27:20 The more you relate and repeat, the more your attitude changes -- you reframe.
Resources:
Change or Die
Kim Snider, Kim Snider Financial Communications, Chronim Investments and/or Snider Advisors make no representation that the information and opinions expressed are accurate, complete or current. The opinions expressed should not be construed as financial, legal, tax, or other advice and are provided for informational purposes only. Call 866-952-0100 to request the Snider Investment Method™ Owner's Manual, which includes a description of the Snider Investment Method, investment objectives, risks, suitability and other information. Please read and consider carefully before investing. All investments are subject to risk including possible loss of principal.
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Kim Snider is an author, speaker and host of Financial Success Coaching, Saturdays at noon, on KRLD Newsradio 1080, Dallas - Fort Worth. This blog is primarily devoted to empowering individual investors with information to help them be good stewards of their money. Above all, it is about achieving true financial success. Kim's book, How To Be the Family CFO: Four Simple Steps to Put Your Financial House in Order is in bookstores now. Order yours from Amazon or other fine booksellers today.
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