Podcast Summary: How I Built My Small Business
Episode: Elizabeth Husserl - The POWER OF ENOUGH: Redefining Wealth, Well-Being, and What Really Matters
Release Date: July 15, 2025
Host: Anne McGinty
Introduction
In this enlightening episode of How I Built My Small Business, host Anne McEntee welcomes Elizabeth Husserl, a distinguished financial advisor and the co-founder of Peak360 Wealth Management. Elizabeth brings a unique perspective by integrating economics, psychology, and personal well-being into her financial advisory practices. Her insights challenge traditional notions of wealth, urging listeners to redefine what it means to feel "enough."
The Scarcity Brain and the Quest for Enough
[02:21] Elizabeth Husserl: "Scarcity brain is real. We're not crazy, right? Our brains are wired to seek. That is what's kept us alive."
Elizabeth begins by discussing the inherent nature of the human brain to seek more, a trait that often leaves individuals feeling perpetually insufficient, regardless of their financial status. She explains that while our brains are adept at seeking and analyzing, they aren't inherently programmed to recognize when enough is enough. This incessant loop leads to a constant pursuit of more, undermining the feeling of abundance.
Key Points:
- Scarcity Brain: Human brains are wired to seek and analyze but lack the mechanism to recognize sufficiency.
- Dopamine Loop: The brain's reward system reinforces continuous seeking, making it difficult to feel satisfied.
- Beyond Mindset: Shifting from an abundance mindset is insufficient; instead, embodying experiences of enough is crucial.
Defining Enough: Beyond Numbers
[03:55] Elizabeth Husserl: "We're trained in our culture to go to numbers when we think about enough... Let's start with your needs. Let's start with your goals."
Elizabeth emphasizes that culturally, people often rely solely on numerical metrics to define "enough," such as income and expenses. However, she advocates for a more holistic approach that begins with understanding personal needs and goals.
Key Points:
- Wealth Mandala: A tool Elizabeth developed, based on 12 human needs, including financial stability, safety, physical health, freedom, purpose, and more.
- Personal Fulfillment: Assessing fulfillment in each area helps identify where individuals feel a lack and need to invest resources.
- Integrated Planning: Combining financial planning with personal satisfaction ensures that achieving financial goals leads to genuine well-being.
Notable Quote: [06:40] Elizabeth Husserl: "My work is in the States, where we have so much more, but we feel scarcity, we feel poor."
The Wealth Mandala: A 360-Degree Approach
Elizabeth introduces the Wealth Mandala, a comprehensive framework that assesses fulfillment across various human needs. Clients rate their satisfaction in each area, revealing where true poverty lies—not just in financial terms but in aspects like connection, leisure, and purpose.
Key Points:
- 12 Human Needs: Financial stability, safety, physical health, freedom, purpose, understanding, participation, belonging, connection, curiosity, leisure, and touch.
- Personalized Strategies: Developing both monetary and non-monetary strategies to address areas of deficit.
- Holistic Wealth: Viewing wealth as a state of well-being rather than merely the accumulation of money.
Notable Quote: [08:47] Elizabeth Husserl: "Wealth is not the same as money. Money is one tool and a technology. Wealth is a state of well being."
Emotional Relationship with Money
Anne and Elizabeth delve into the emotional aspects of money, discussing how generational teachings and personal experiences shape one's relationship with finances.
Key Points:
- Emotional Detachment: Elizabeth argues against being unemotional about money, advocating instead for understanding and addressing the emotions tied to it.
- Conversation with Money: A gestalt exercise where individuals dialog with money to uncover deep-seated emotions and beliefs.
- Financial DNA: Recognizing how family backgrounds influence our financial behaviors and perceptions.
Notable Quote: [09:26] Elizabeth Husserl: "Every client I sit down and do this exercise is like, oh my God, Elizabeth, A, you're crazy. And B, I feel resistance."
Practical Tools for Redefining Wealth
Elizabeth shares practical exercises to help listeners redefine their relationship with money and achieve a state of abundance.
1. Wealth Mandala:
- Rate fulfillment in each of the 12 areas.
- Identify areas lacking satisfaction.
- Develop strategies to address these deficits, both financially and non-financially.
2. Conversation with Money:
- Engage in a dialogue with money to express and uncover underlying emotions.
- Understand the relational dynamics with money to transform negative patterns.
3. Satiation Practice:
- For 30 days, write down three things each day that brought satisfaction.
- Reflect on these moments to identify effective strategies for feeling fulfilled.
- Apply these strategies to areas of scarcity in life.
Notable Quotes: [16:02] Ann McEntee: "The wealth Mandala... is built on 12 human needs." [21:37] Elizabeth Husserl: "The satiation challenge... Just track a list of 1, 2, 3."
Addressing Financial Stress and Empowerment
Elizabeth speaks to those overwhelmed by financial stress, emphasizing that everyone, regardless of their financial status, has a relationship with money that can be improved.
Key Points:
- Universal Struggle: Whether one has little or much, the relationship with money impacts overall well-being.
- Empowerment Through Agency: Feeling empowered requires active engagement and addressing underlying fears and beliefs.
- Tailored Advice: For individuals starting out, focus on saving early, automating savings, and designing financial plans aligned with personal values.
Notable Quote: [23:11] Elizabeth Husserl: "You are in relationship with money if you have $1 to deal with, because that $1, you make choice, where is it going?"
Changing Cultural Narratives Around Money
Elizabeth discusses the cultural intertwining of money with identity and self-worth, offering strategies to shift these narratives.
Key Points:
- Decoupling Worth from Money: Avoid using net worth as a measure of personal worth.
- Alternative Conversations: Instead of "What do you do?" ask "What are you passionate about?" to shift focus from financial status to personal interests.
- Financial Advisor's Role: Financial advisors can incorporate these holistic approaches to better address clients' comprehensive well-being.
Notable Quote: [25:33] Elizabeth Husserl: "When I talk about your worth as a person, I go to the wealth mandala and I say, hey, what are we working on?"
Personal Journey and Lessons
Elizabeth shares pivotal moments that shaped her approach to wealth and finance, highlighting the importance of real-life experiences over purely numerical achievements.
Key Points:
- Work in Oaxaca: Witnessing joy and richness in community despite material poverty influenced her understanding of wealth.
- Personal Exercises: Engaging in exercises like "Conversation with Money" helped her identify and transform her own financial beliefs.
- Family Impact: Sharing and addressing financial habits within her family reinforced the importance of collaborative solutions.
Notable Quote: [30:00] Elizabeth Husserl: "Scarcity was part of my story... I'm like, oh, my God, clock is ticking."
Advice for the Younger Generation
Addressing younger listeners, Elizabeth offers actionable advice tailored to contemporary financial challenges, such as high living costs and evolving job markets due to AI.
Key Points:
- Start Saving Early: Utilize tools like Roth IRAs to benefit from compounding interest.
- Compounding Meaning: Invest in fulfilling experiences alongside financial investments.
- Adaptability: Emphasize the importance of being nimble and adaptable in an ever-changing economic landscape.
Notable Quote: [37:34] Elizabeth Husserl: "Start compounding interest sooner... but equally important is the power of compounding meaning."
Conclusion and Key Takeaways
Elizabeth Husserl's approach to wealth redefines it as a multifaceted state of well-being rather than mere financial accumulation. By integrating emotional awareness, personal fulfillment, and strategic planning, individuals can achieve a balanced and satisfying relationship with money.
Key Takeaways:
- Scarcity is Natural but Manageable: Recognize the brain's tendency to seek and learn to embody feelings of enough.
- Wealth vs. Money: Understand that wealth encompasses overall well-being, not just financial assets.
- Holistic Planning: Utilize tools like the Wealth Mandala to assess and address comprehensive life needs.
- Emotional Engagement: Engage in exercises that uncover and transform emotional relationships with money.
- Personal Empowerment: Take actionable steps to redefine success and prioritize meaningful experiences alongside financial goals.
Final Notable Quote: [29:00] Elizabeth Husserl: "Money won't fix a broken definition of wealth. If your internal definition of success is flawed, no external gain will ever feel like enough."
Resources Mentioned
- Elizabeth Husserl's Book: The Power of Enough
- Wealth Mandala: A framework for assessing and fulfilling 12 human needs.
- Satiation Challenge: A 30-day practice to identify and replicate satisfying experiences.
- Gestalt Chair Exercise: Conversation with Money to explore and transform emotional relationships with money.
- Die with Zero by Bill Perkins: A book exploring the balance between saving and living.
Thank you for tuning into this episode of How I Built My Small Business. For more insights, visit Anne McGinty's Website, connect on LinkedIn, or explore behind-the-scenes content on Instagram.