I was interviewed several years ago by Lorwai Lan on how it’s never too late to become a midlife millionaire on her radio show, Your Money and Your Mindset. One of the things we discussed is mindset. This idea of mindset is so important because no matter how much you make or have, you will never be able to keep it, grow it, or feel secure and joyful about it unless you have a healthy relationship with money!

What is your mindset around money? If you received a large sum of money – millions of dollars, could you hold on to it? You say yes, but how are you treating the money that you have today? Do you respect and appreciate it? To create, grow, and keep wealth, you need to have a healthy relationship with it and an action plan.

  • Does the idea of becoming a midlife millionaire make you feel uncomfortable or does it feel too unrealistic?
  • What would your friends and family think of you if you were really rich?
  • Does the word millionaire seem too materialistic or masculine?
  • What were you told about money when you were growing up? Was it money doesn’t grow on trees or money is the root of all evil?
  • Are you negatively triggered by the idea of having a lot of money or by those who already have it?

Our relationship with money – how we feel about it AND what we do with it will have a profound effect on every area of our lives, because until we develop a truly sacred relationship with it, and that means both the Inner Work and Outer Work of money, we will never be able to ask for what we are worth, keep what we earn, invest confidently to make it grow, or feel secure and confident about it once we have it.

If you are struggling with your relationship with money, thinking it’s too late to become wealthy, waiting for someone else to solve your financial problems, hoping the issues will go away by simply ignoring them, or going deeper and deeper into debt, even being afraid to spend or invest it, then it’s time to take action.

I’ve worked with hundreds of women who need help with their money, and we always start with the Inner Work. The Inner Work is identifying our beliefs and disempowering beliefs around money, and then shifting, healing, and releasing those beliefs while creating new empowering beliefs and actions.

The Outer Work is what you are doing with your money. Are you getting paid what you are worth? Do you respect it by saving and investing for your future?

No matter where you are in your life, there is hope. Let’s get started:

Step #1: Start with the Inner Work – your beliefs around money. Let’s identify your money personality.

There are 5 money personalities:

  • Value – I need to prove I am good enough.
  • Status – Whatever I achieve is not enough.
  • Love – I need to do whatever it takes to get love.
  • Security – I never know when what I have may be taken from me.
  • Recognition – I need to prove I’m right.

Once you identify your disempowering belief, challenge, and money personality, then it is time to release, forgive, and heal. This process can take years, or if done with a professional, it can be instantaneous. It’s truly step number one. This one step will shift everything. I’ve seen it happen with hundreds of women, frequently with immediate almost magical results.

Step #2: Now you can begin the Outer Work – Taking Action. This is where you begin to look at where you stand and where you want to go. It’s time to be brutally honest, to clean up messes, set goals, and get the help you need. Steps could include:

  • Create a financial plan.
  • Take a financial course like our free Unlock Your Financial Power
  • Go to a financial counselor if you are in debt.

Step #3: Don’t give up – Don’t try to do this part alone. Get support and surround yourself with like-minded women who are on the same path. You can do this by joining our free Smart Women Community and connecting with us on our Facebook page.

I believe in you. I have been there and know how to do this. I surrounded myself with dozens of supporters, and they are all part of this community of smart, successful women who are willing to reach out and help each other. Check out our free resources and let us know how you transform. We want to hear from you!


Katana Abbott, CFP® practitioner, is a Wealth Coach™, host of the Smart Women Talk Radio™, founder of the Smart Women Companies with over 1 million subscribers globally, inspirational speaker and author of several books.

She began her financial planning career in 1987 and became a Certified Financial Planner™ practitioner. In 2003, Katana created Smart Women’s Coaching® to offer financial coaching and educational workshops for women in transition who are dealing with caregiving, death of a loved one, divorce, retirement or looking to create or grow a business.  She founded Smart Women’s Empowerment in 2008 to bring free financial empowerment resources and programs to women around the world through her team of Contributing Experts. www.katanaabbott.com

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