Conquering Financial Self-Doubt — Susan Schoenfeld
Susan R. Schoenfeld, CEO and Founder of Wealth Legacy Advisors LLC, serves as a ‘thought partner’ to families of wealth through personal attention and human spirit. Susan is an award-winning Thought Leader; she provides guidance on legacy, stewardship, governance, leadership succession, and philanthropy. She recently spoke on Mastering Money & Mindset: The Psychology of Wealth & Abundance at Thrive: The Women’s Leadership Summit in New York City.
Here is a scenario that I’ve seen time and again: someone inherits wealth — or is suddenly thrust into a financial leadership role — and instead of feeling empowered, they feel paralyzed. Not because they’re not intelligent, not because they aren’t capable, but because no one ever prepared them for this part of their life.
The terminology and acronyms, the legal and tax structures, the complex investment products — it can all feel like alphabet soup if you weren’t taught how to navigate that world. And when the stakes are high — family businesses, inheritances, multi-generational legacies — it can feel even more daunting.
One client had just inherited significant wealth from her father and had been invited to join the board of her family’s company, which her father and uncle had built from the ground up. On paper, it was an honor. But emotionally? She felt lost. She didn’t even know what questions to ask, out of fear of embarrassing herself.
What she needed wasn’t just technical information. She needed a safe space — a mentor, a translator of sorts — to help her feel grounded. Before each board meeting, we’d have private prep sessions. We’d go over what to expect, what to listen for, and how to ask thoughtful questions. Bit by bit, her self-confidence grew.
She found her voice. She started to own that board seat — not just fill it. Her uncle and cousins took notice. But more importantly, she began to see herself differently. Helping to create that shift from self-doubt to self-confidence is one of the most gratifying parts of this work.
No one has to go it alone. Whether you’ve inherited wealth, married into it, or are managing it for the first time, there is no shame in needing guidance. In fact, seeking out a mentor is one of the most empowering things you can do.
Mentorship isn’t just about learning financial lingo or how to read a balance sheet. It’s also building your inner confidence to sit at that conference table, to speak with clarity, and to lead with intention. Education and outside support go hand-in-hand. You need both.
If you’re feeling overwhelmed by your new-found financial position, find someone who listens, explains, and empowers — and doesn’t make you feel small for asking. Over time, you’ll move from “I don’t know what I’m doing” to “I’ve got this.”
Because you do. With the right support, you can turn your current financial self-doubt into a strength. You can become not just a passive steward of your wealth, but an active player in your own financial story.
Susan Schoenfeld, a public speaker & thought partner to families of wealth and their advisors, is an award-winning thought leader and family wealth counselor. Susan’s transition from a successful estate planning attorney and CPA to a trusted family advisor and thought partner was sparked by the deeper, more probing questions she received from wealthy families — questions that went far beyond traditional estate tax planning. As a conflict-free advisor who provides no investment, tax, or legal advice, and sells no product, Susan offers unfiltered, actionable insights directly to high-net-worth families and financial professionals alike. Her expertise and thought leadership have made her a sought-after keynote speaker and a leading facilitator at prestigious conferences across the United States.
Connect with Susan Schoenfeld on LinkedIn.
