Confronting Fear

October 1, 2025

Have you ever noticed how many financial products are sold or decisions are made with fear as the primary motivator? It’s a dirty little secret in the financial industry, but it’s highly effective.

Consider the following scenarios:

1. “I’m scared that we aren’t protected against untimely death — What if our household’s breadwinner has an accident? How can we ensure financial stability?” Here’s a menu of life insurance products.
2. “I’m a conservative investor that wants predictable returns and I’m anxious about potentially outliving my savings. How can I protect myself from loss?” Here’s a menu of annuities.
3. “The bubble is about to burst. We’re headed for a deep recession. What if the U.S. dollar becomes worthless?” Here’s some gold, precious metals, and cryptocurrency.

Not only is fear-based selling highly effective, it’s also very profitable to financial institutions in the form of commissions. Unfortunately, many financial products charge high fees, are illiquid, and lack transparency.

The reason I love being an advisor with One Day In July is the fiduciary standard we are held to. We do not leverage fear to sell commission-based products. We put our clients’ best interests ahead of our own, always. When it comes to financial planning, this means helping clients evaluate the pros and cons of different choices so they can make the decision that is best for their unique situation. After all, personal finance is personal.

It is perfectly natural to feel anxiety or fear about the future. Those emotions should not be suppressed or ignored. All the scenarios above are legitimate concerns and questions. However, it is decidedly not OK to let fear drive our decision-making processes.

- Chris McKeown