You may know when you want to retire, whether you want your mortgage paid off, or what you hope to leave your family. But knowing the financial goal doesn’t always explain why it matters to you.

And when retirement, family, security, health, and time compete for the same resources, deciding what matters most can become much harder.

In this episode, Eric Lee and Michael Boyle explore how personal values shape financial decisions. They look beyond goals such as retirement, paying off a mortgage, or buying a second home to examine the motivations underneath them. Eric and Michael also discuss financial trade-offs, changing priorities, differences between spouses, and how the Better Conversations exercise can help you identify what matters most right now.

Key points:

• Why knowing the motivation behind a financial goal can reveal more options for reaching what matters to you
• How priorities around family, health, freedom, and financial resources can change throughout different stages of life
• Why financial planning often requires choosing between two worthwhile priorities rather than a clear right or wrong
• How family experiences with debt and money can continue influencing financial decisions across generations
• Why couples may agree on what they want while assigning very different meaning and priorities to the same financial goal
• And more!

Contact Eric Lee:

• Purple Wealth
• LinkedIn: Eric Lee
• Email: eric.lee@purplewealth.com

Contact Michael Boyle:

• Purple Wealth
• LinkedIn: Michael Boyle

About Our Guest:

Michael Boyle is Eric Lee’s partner at Purple Wealth and a returning contributor to Better Conversations: The Life & Money Podcast. In this conversation, he shares his perspective on looking beyond financial goals to understand the values behind them, recognizing competing priorities, and using those values to make more meaningful financial decisions.

Do you have enough money to retire but still feel nervous about spending it? If you’ve saved more than you expect to use, how do you decide what to enjoy, what to give, and what to leave behind?

In this episode, Eric Lee and Michael Boyle explore how retirees and families can move from saving money to using it with intention. They consider how to know when you have enough, how much you can spend in retirement, and why a larger portfolio may not improve your life.

Eric explains the three purposes of money: financial security, freedom, and meaning. The conversation also covers early inheritances, Roth IRA contributions for eligible grandchildren, family experiences, charitable giving, and passing down values without creating dependence.

Eric discusses:

• How to decide whether you have enough money to spend more freely in retirement
• When giving children or grandchildren an early inheritance may have greater impact
• How to help family financially without encouraging dependence or entitlement
• And more!

Contact Eric Lee:

• Purple Wealth
• LinkedIn: Eric Lee
• Email: eric.lee@purplewealth.com

Contact Michael Boyle:

• Purple Wealth
• LinkedIn: Michael Boyle

About Our Guest:

Michael Boyle is Eric Lee’s partner at Purple Wealth and a returning contributor to Better Conversations: The Life & Money Podcast. In this conversation, he shares his perspective on retirement spending, living inheritances, helping younger generations financially, and using wealth to create opportunities without encouraging dependence.

What should you do when the stock market drops and your investment account suddenly loses value? Before selling during a downturn, it helps to understand what the decline makes you fear losing in your life.

In this episode, Eric Lee and Michael Boyle explore why a market decline can make retirement, independence, and future choices feel less certain. Eric explains how investors become attached to a portfolio’s highest value and why a lower balance can feel like money has been taken from them. They examine the urge to sell during a bear market, the relief it may provide, and the difficult question of when to reinvest. Eric also shares three questions to consider before making a fear-based investment decision. The conversation offers a practical way to prepare for market volatility and evaluate whether a downturn has actually changed your financial plan.

Eric discusses:

• Why a falling portfolio can raise concerns about retirement, family support, and running out of money
• How selling during a market downturn can create a difficult decision about when to reinvest
• Three questions to ask before changing your investments in response to fear
• Why preparing during strong markets can help you respond more thoughtfully when volatility returns
• And more!

Contact Eric Lee:

• Purple Wealth
• LinkedIn: Eric Lee
• Email: eric.lee@purplewealth.com

Contact Michael Boyle:

• Purple Wealth
• LinkedIn: Michael Boyle

About Our Guest:

Michael Boyle is Eric Lee’s partner at Purple Wealth and a returning contributor to Better Conversations: The Life & Money Podcast. In this conversation, he shares his perspective on market declines, investor fear, the emotional pressure to sell, and preparing for volatility before it happens.