In a climate of economic unpredictability, many investors are asking themselves a simple but loaded question: “Am I okay financially?”

Even for high-net-worth individuals, the answer isn’t always clear. And more importantly, that uncertainty isn’t just about dollars and decimals: it’s emotional. Financial anxiety isn’t limited to those living paycheck to paycheck. It can weigh just as heavily (and sometimes more quietly) on those with significant assets.

At Larson Financial Group, we believe Mental Health Awareness Month isn’t just about self-care: it’s about recognizing the invisible thread that ties emotional well-being to smart, confident financial decisions, and taking care of both.

Wealth ≠ Immunity from Stress

Let’s set the record straight: having wealth doesn’t mean you’re immune to money-related anxiety. In fact, high-net-worth individuals often face a unique set of emotional pressures: maintaining lifestyle, protecting legacy, preventing exploitation, and trying not to buckle under the weight of expectation.[i] The stakes feel higher, and the pressure to “not mess it up” can be all-consuming.

This is why Mental Health Awareness Month is a powerful reminder that mental wealth is just as important as financial wealth.

How Financial Stress Impacts Mental Health

The connection is well-documented: financial stress can exacerbate anxiety, depression, and burnout, even when your net worth says you’re “doing fine.” Stress about market performance, estate planning, or whether you’re doing enough can hijack your focus and nudge you toward avoidance or impulsive choices.[ii]

And here’s the kicker: poor mental health also impacts financial behaviors. Anxiety might drive you to overtrade or hoard cash. Depression can result in decision paralysis or disengagement. Even a dip in confidence can mean missed opportunities or delayed action.

Financial stress can activate the same fight-or-flight response as any other crisis. You might find yourself:

• Losing sleep over market dips
• Avoiding important financial decisions
• Making impulsive portfolio moves
• Feeling guilt about spending—or not spending enough

Left unchecked, these emotional responses can quietly undermine even the most solid financial plan.

A Mental Health Approach to Managing Money

So what does it look like to care for your mental well-being through your finances? It’s not about ignoring numbers: it’s about managing what those numbers represent in your mind and life.

Schedule a Financial Health Day

Wharton professor Wendy De La Rosa recommends taking a “financial health day”: a dedicated block of time to revisit your finances with intention and without judgment. No spreadsheets at midnight. No multitasking. No pressure. Just progress.

Use the time to:

• Review your allocations
• Open that 529 you’ve been meaning to set up
• Cancel those unused subscriptions
• Revisit your estate plan or insurance policies

Even if you can’t spare a full day, carving out a recurring half-day once a quarter can reduce stress and improve your sense of control.

Practice Financial Mindfulness

Mindfulness is more than meditation. It’s pausing before a big purchase. It’s checking in with your emotions before logging into your brokerage account. Small shifts in awareness can protect you from big mistakes.

Mindfulness helps you become more aware of your thoughts and feelings around money. Even a few minutes a day of reflective journaling or deep breathing before a big decision can slow your emotional reactions and improve clarity.[iii]

Mindfulness can:

• Reduce impulsive spending
• Improve emotional regulation during volatility
• Keep you aligned with long-term goals, not short-term market noise

Talk to Someone (Preferably Your Larson Advisor)

You don’t have to carry the stress alone. Think of your Larson advisor as your financial therapist: we’re here to listen, guide, and help you navigate complexity with clarity and confidence.

Whether it’s portfolio decisions, family gifting strategies, or just needing a gut-check on your next big move, your advisor is here to provide support grounded in experience, empathy, and your best interests.

True Wealth is Health

At Larson, we believe that smart investing isn’t just about compounding returns. It’s about peace of mind. Because what good is financial success if it comes at the cost of your well-being? Whatever season you’re in, whether you’re rebalancing your portfolio or rethinking your goals, your Larson advisor is here for you.

This month, let’s normalize the conversation: it’s okay to feel financial stress, even when the balance sheet looks strong. Let your advisor in. Let the pressure out.

Remember: mental health is part of your financial plan too.

[i] https://www.websterbank.com/resources/webster-investments/article/wealth-success-and-mental-health-finding-the-balance-between-wealthy-and-health/

[ii] https://www.forbes.com/sites/financialfinesse/2024/05/07/financial-mindfulness-the-key-to-enhancing-your-financial-life/

[iii] https://www.headspace.com/meditation/financial-stress

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