Money Rehab with Nicole Lapin

Episode: Science-Backed Hacks For Growing Wealth with Jon Levy
Date: February 26, 2026
Guest: Jon Levy (Behavioral Scientist, Author of "Team: How Brilliant Leaders Unlock Collective Genius")

Overview

In this engaging and insightful episode, Nicole Lapin welcomes repeat guest and behavioral scientist Jon Levy to discuss the often-overlooked psychological and social factors that influence wealth-building. Departing from traditional number-crunching, the conversation dives into behavioral science, mindset, and the power of relationships with science-backed, practical hacks for growing wealth. Listeners are treated to candid discussions about financial taboos, goal-setting, the influence of social networks, overcoming shame, and the hidden levers of success.

Main Themes & Key Insights

1. Wealth Building Is Not (Just) About Numbers

• Nicole introduces the central thesis: Most people focus on spreadsheets and calculations, but the real obstacles to financial growth are psychological and social.
• Jon affirms, "The thing that stands in people's way isn't the numbers though. No, it's the mind stuff. It's your relationships." [05:36]
• Both agree that basic math is enough for investing—emotional and social barriers are tougher.

2. Social Currency and Human Connection

• Jon recounts his signature "influencer dinners," where a diverse group of exceptional people connect without regard to status symbols, demonstrating the power of relationships in opportunity creation.
• Social habits and influences are contagious, from health to wealth. Jon shares, "If I'm going to get my life organized, it's going to be much easier to have the habits and the mental frameworks and the conversations that matter if I find a way to connect with the people who actually know what they're doing and have good habits." [16:46]

3. Goal Setting & Accountability: The Science

• Talking About Goals Can Backfire:
  Sharing goals widely doesn’t guarantee accountability or results. "When you talk too much about accomplishing a goal, it makes people feel the joy and satisfaction of accomplishing it, and then they don’t feel like they need to actually take action." [07:53]
• If-Then Planning Works:
  Setting specific contingencies in goals (e.g., "If I can't save $100 this month, I'll save $50") enhances follow-through and habit formation. [22:11]
• Identity Shifts Matter:
  Adopting a financial identity (e.g., "I'm an investor") drives consistent behavior. "Once you self-identify as having a characteristic, you are far more likely to actually fulfill on the thing." [23:04]

4. Mindset, Shame, and Comparison

• Shame Isn’t a Motivator:
  Shame paralyzes rather than propels action. "There is no amount of shame that you can feel that actually helps motivate most people... Most of the time, we just eat our feelings when we have shame." [24:38]
• Comparison Trap:
  Social media amplifies financial insecurity and shame by glamorizing fake wealth, but "most millionaires in this country, you would have absolutely no clue that they have money." [27:36]
• Forging Realistic Expectations:
  Wealth is rarely instant. It took Jon eight years to pay off his own debt, underscoring the importance of patience and resilience.

5. Cognitive Load and Decision-Making

• Financial Stress Reduces Mental Capacity:
  According to Jon, "When you do not have enough money to cover your basic needs, the extra stress and thinking... reduces your IQ by about 11 points." [11:53]
• Happiness and Money:
  Having enough money to remove basic anxiety is key—but more money only makes happy people happier and doesn't "fix" unhappiness. [12:32]

6. Relationship Habits and Wealth

• Nurturing Social Ties:
  Longitudinal studies show social integration and close relationships are the most powerful predictors of health and happiness, outstripping financial gains alone. [14:21]
• Who You Marry Matters:
  Alignment of financial values with a partner is often the most important financial decision you make. [35:04]

7. Behavioral Barriers: Sunk Cost Fallacy

• Letting Go and Starting Fresh:
  People struggle to walk away from poor investments, jobs, or relationships due to past investment—known as the sunk cost fallacy. Jon advises reframing: "If you woke up today…and you know all the good things, all the bad things … would you invest in that stock [or relationship]?" [36:28]
• Recognizing when persistence is actually self-sabotage is essential for financial (and personal) growth.

8. The Myth of Passion and the Reality of Success

• Success often precedes passion, not the other way around. Nicole says, "I became passionate because I became successful." [42:01]
• Jon expands: "Passion is a byproduct of a positive feedback loop … you end up spending more time thinking about it and developing expertise." [40:23]

9. Leadership: Skills, Teams, and Vulnerability

• The best leaders aren’t well-rounded but have "super skills" and build teams to fill gaps. Leadership comes from followers’ trust in a leader’s ability to create a new and better future. [53:28]
• Vulnerability and accepting help build trust and deeper relationships, both professional and personal.

10. Practical Wealth Hacks

• If-Then Habit Setting: Plan for contingencies, not perfection.
• Identity Framing: Self-identify with your goal (“I am an investor”).
• Relationship Investment: Build authentic connections—they are often more valuable than cash.
• Ask for Help: Most people want to help; asking creates closeness and investment in your success. [67:54]

Notable Quotes & Memorable Moments

“The thing that stands in people's way isn't the numbers though. No, it's the mind stuff. It's your relationships.”
— Nicole Lapin [05:36]

“When you talk too much about accomplishing a goal, it makes people feel the joy and satisfaction of accomplishing it, and then they don’t feel like they need to actually take action.”
— Jon Levy [07:53]

"Once you self-identify as having a characteristic, you are far more likely to actually fulfill on the thing."
— Jon Levy [23:04]

“There is no amount of shame that you can feel that actually helps motivate most people…Most of the time, we just eat our feelings when we have shame.”
— Jon Levy [24:38]

"Most of the millionaires in this country, you would have absolutely no clue that they have money. They are the person who owns a tow company and was just really good about not overspending or living lavishly."
— Jon Levy [27:36]

“We are fundamentally wired to connect with each other and to care about one another, because if we don't do that, we're just done as a species.”
— Jon Levy [68:28]

“In the end of the day, [mental well-being] is the most valuable.”
— Nicole Lapin [33:15]

Key Timestamps

• 05:36 — The real barriers to financial growth: mindset and relationships.
• 07:53 — Why sharing your goals doesn’t always work.
• 11:53 — Financial stress and its cognitive impact.
• 16:46 — How Jon’s relationship-building changed his financial trajectory.
• 22:11 — The power of “If-Then” statements for habit formation.
• 23:04 — Identity framing and behavior change.
• 24:38 — Why shame doesn’t work as a motivator.
• 27:36 — The truth about real millionaires.
• 36:28 — Overcoming sunk cost fallacy in investments and relationships.
• 40:23 — The passion-success feedback loop.
• 53:28 — Leadership, trust, and the value of “super skills.”
• 67:54 — The surprising science behind asking for help and building social capital.
• 68:28 — Human connection as our evolutionary advantage.

Takeaways & Action Steps

• Wealth is more than math: Focus on internal and social obstacles as much as financial strategy.
• Set specific, flexible goals: Use “If-Then” planning to troubleshoot setbacks.
• Build a supportive network: Social currency and nurturing relationships have profound wealth and well-being benefits.
• Stop letting shame, guilt, and comparison stall your progress: Recognize and release these emotional barriers.
• Actively ask for help: Input, advice, and opportunities are far more accessible if you reach out.
• Prioritize mental well-being in financial choices: The “best” strategy may not always be the most lucrative—it’s the most sustainable for you.
• Remember to acknowledge compliments and offers: Build trust by accepting vulnerability, not deflecting it.

Final Tip (from Jon Levy)

“Everybody really wants to help you, even strangers… Those people who say yes will then care more about your success and will feel more invested in you and will want to see you win more. And so the more people you can do that with, the better off you’ll be.”
[67:54]

Recommended Next Steps for Listeners

• Re-frame your mindset: Identify as an investor, saver, or financially capable person.
• Cultivate and invest in your relationships—success often comes from who you know.
• Plan for setbacks—don’t let imperfection derail long-term habits.
• Reach out for help and advice—it's a win for both parties.

For more tips and to join the financial conversation, listeners are encouraged to email their questions to moneyrehab@moneynewsnetwork.com.