On this episode of The Power Lunch Podcast, hosts Tracie Munce and Lisa Carmichael sit down with financial educator and accountant Sheila Cole to rethink everything you’ve been told about money, profit, and legacy.Sheila doesn’t treat profit as a personality test or moral scorecard, she treats it as a tool, and asks a powerful question: “At what cost?”In this conversation, you’ll hear about:Why profitability and legacy can’t be measured by dollars aloneThe hidden costs of chasing more of your time, health, relationships, integrity, and nervous systemHow inherited money stories and scripts quietly drive your financial decisionsThe difference between a “numbers problem” and a values problem in your businessWhat research really says about the link between income and day‑to‑day happinessHow to set both financial goals (revenue, debt payoff, retirement) and nervous‑system goals (sleep, peace, healthy money conversations)If you’re building a business, dreaming of generational wealth, or just want a more honest relationship with money, this episode will help you redefine what true wealth and legacy look like. Studies and quotes mentioned:A 2010 Princeton University study on income and day‑to‑day emotional well‑being (often summarized as happiness plateauing around $75,000/year).A 2023 University of Pennsylvania Wharton School study that revisits and complicates those findings, suggesting happiness can continue to rise with income, especially for those who aren’t generally happy.Your balance sheet and your P&L are one kind of legacy, but your nervous system is another, entirely.If your profitability depends on exploiting your staff, your vendors, or your community, that’s not just a numbers problem—that’s a values problem.You can’t just say, ‘Once I hit this amount of money annually, I’m going to be happy.’ It doesn’t work that way, and the studies keep showing this over and over.More about Sheila: Sheila Cole is a Certified Financial Educator through the University of Minnesota, an accountant with two decades of experience, and the founder and CEO of Equitorium, a real-world-focused financial education and accounting firm based in Minneapolis. She partners with individuals, business owners, and underserved communities to make money feel clear, honest, and doable. Her work rejects hype and empty formulas, focusing on accessible education, real skills, and fair practices for every client she serves. She links everyday money choices to the kind of legacy people want to leave in their lives and communities.CONNECT WITH SHEILAWebsite: Equitorium.com — https://equitorium.comMoney resources: unfuckmymoney.com — https://unfuckmymoney.comAlternate link: unfunkmymoney.com — https://unfunkmymoney.comFollow Equitorium on SocialInstagram: https://www.instagram.com/equitorium/LinkedIn: https://www.linkedin.com/company/equitoriumFacebook: https://www.facebook.com/equitoriumCall to Action:If this episode sparked a new idea, gave you a fresh perspective, or made you feel seen, share it with a friend or fellow powerhouse woman. Subscribe to the Power Lunch Podcast so you never miss an episode, and remember: keep showing up, keep rising, and there’s no ceiling you can’t break through!Connect with us:InstagramLinkedInFacebookLink TreeWebsiteDon’t forget to subscribe so you never miss an episode, and share this podcast with someone who could use a little midday inspiration!
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33 min