Welcome to a new week and a new theme here on the One Minute Retirement Tip!
This week’s theme is behavioral finance. You might be asking...What is behavioral finance?
Behavioral Finance is a relatively new field of study that has become more commonly understood over the last 20 years. It’s the study of the influence of psychology on the behavior of investors. Since investors aren’t always rational, we have limits to our self-control, and we are all influenced by their own biases - these factors influence how we make decisions with our money.
So it’s important that you understand the impact of your conscious and subconscious behaviors, in order to make rational decisions and avoid some common blunders.
This week, I’ll help you understand what behavioral finance is, how to be more aware of your psychology and how it impacts your decisions when it comes to your money, how to avoid some of the biggest blunders, and how to avoid falling into the traps of loss aversion and herd behavior.
My goal for this week is that you will develop a deeper understanding of how you make decisions with your money, which will hopefully lead to you making better decisions with your money.
That’s it for today. But before you go...you probably know someone who is close to retirement and could benefit from listening to this podcast. If so, please share this podcast with them and encourage them to check it out by adding it to their flash briefing in Alexa or subscribing wherever they listen to podcasts!
Thanks for listening. My name is Ashley Micciche and this is the One Minute Retirement Tip.
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