Our relationship with money is much like the other emotional relationships we have in other parts of our lives. We tell ourselves we’re done making the same types of mistakes but end up repeating those same behaviors the next time the situation arises. The same thing happens in terms of how we invest our dollars and how we act when the market isn’t going up.
In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will dive into a recent article that discusses the behavioral side of investing and share what they’ve seen from people as they navigate the rough economic waters we find ourselves in. They’ll also talk about what’s being done from the Fed to improve market conditions and whether a digitalization of money is coming soon.
It’s important to have a financial professional on your side to help you through the good times and the bad. Understanding how our behaviors play a role in our decisions will hopefully help you avoid repeating those same mistakes both now and in the future.
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Timestamps (show notes):
4:43 – What this week’s article says about decisions
7:57 – Understanding portfolio losses
13:02 – Why we feel like ‘this time is different’
18:32 – The investing questions you need to ask yourself
19:27 – The steps the Fed is taking to ease inflation
24:48 – How soon will the digitalization of money happen?
29:45 – The role perception plays in our behavior
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