Wealth & Mental Health | Kick off to Roth Conversion Season

Unseen Pressures with Wealth and Mental Health

I recently interviewed Sarah Espenshade of Espenshade Counseling. There’s one theme that really impacted me: the intersection of affluence and stigma.

Her description of the problem:

“For families with fewer resources, stigma often looks like shame in seeking care: ‘What does it say about me if I admit I need help?’

But for wealthy families, it can sound more like: “If I have every resource available, why can’t I handle this myself? What will it do to my/our reputation if we’re seeing a counselor?”

When those assumptions collapse under the weight of real-life challenges like anxiety, burnout, addiction, mental health struggles, or family conflict, shame takes root. Too often, families wait until issues become overwhelming before seeking help.

If her description identifies something you feel personally, I’d leave you with a few questions:

Has wealth made asking for help harder?
Is reputation more important than resilience?
What would strength look like here?
How do I want my spouse/kids to see me?
Could asking for help be leadership?

We’ve seen countless examples of the positive impact from counselors and therapists. Please care for yourself and those you love by prioritizing mental health.

Dangerous Driving: New drivers are notorious for “oversteering.” Some investors “oversteer” as they navigate the increasing levels of wealth and complexity. We define “oversteering” as emotionally driven reactions to the things we can’t control: headlines, global events, election outcomes. The chart below calculates the performance differences between a steady hand and oversteering in 2025:

Our crystal ball is broken: News cycles move quickly and The Financial Entertainment Complex is often fear mongering and looking for anything negative. If you start to see headlines about the next government shutdown, history favors the patient investor.

It’s Never Too Late: In the spirit of “it’s never too late to do the right thing,” recently a San Antonio Public Library patron returned an overdue library book nearly 82 years after its due date. Your Child, His Family, and Friends by Frances Bruce Strain was checked out in July 1943 and due back 28 days later. The book was received at the library in June 2025 from Oregon with a letter. What’s the latest you’ve returned a library book?

*The views expressed represent the opinions of Compass Ion Advisors, LLC, as of the date noted and are subject to change. These views are not intended as a forecast, a guarantee of future results, an investment recommendation, or an offer to buy or sell any securities. The information provided is of a general nature and should not be construed as investment advice or to provide any investment, tax, financial, or legal advice or service to any person. The information contained has been compiled from sources deemed reliable, yet accuracy is not guaranteed.

Additional information, including management fees and expenses, is provided on our Form ADV Part 2 available upon request or at the SEC’s Investment Adviser Public Disclosure website here. Past performance is not a guarantee of future results.