"My children have also taught me that the world looks entirely different (and in many ways more interesting) if you’re willing to get on your hands and knees and see it from their perspective. Some of the best photographs are the result of waking up before dawn, getting my feet wet, and not settling for the first image. Every person views their financial issues differently, and as their adviser, I hop in the stream with them and see their issues from their perspective."
Visit the Investment Partners website to learn more about Doug Feller.
Why We Make The Economic Decisions We Make
It’s not always easy to make sound financial decisions, and the study of economic theory has undergone its share of adaptations over the years to account for this fact. But thanks to the work of great researchers like Richard Thaler, we now have a greater understanding as to why we make the economic decisions we make.
And the reason probably won’t surprise you — people just aren’t rational.
In this episode of unsuitable, Doug Feller, a certified financial planner and principal with Investment Partners, touches on what we can learn from behavioral economics, outlines the three financial mistakes that even the smartest among us make, and what we can do to avoid making those mistakes.
Listen to this episode of unsuitable to learn:
- What behavioral economics is
- Why you need to gain clarity on the financial outcomes that you want and how to stay accountable to those outcomes
- Even if you have great planning or investment strategies, poor behavior will likely lead to sub-par results.
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