Financial Psychology

One of the biggest culprits of inaction is analysis paralysis. You don’t make a move because you’re afraid it will be the wrong one or that it won’t pan out perfectly, but often, all you need to do is take that first step.

What can you take away from volatile times? Many investing lessons; Not just for 2023, but for life.

When presented with a list of options, the ability to make our own choice grants us control. However, when a default option is added to the mix, humans tend to run with the status quo.

One of – if not the biggest – financial priorities you might have is ensuring you have enough money. But what exactly is “Enough”?

Do you have any money regrets? Maybe you made a financial mistake years ago that still continues to bother you. Or, maybe recently you’re second guessing an investment decision or purchase you made.

Understanding what you can confidently keep in your wheelhouse first and foremost begins with recognizing what you have zero control over.

A healthy relationship with money can help lend to a life of fulfillment and financial independence, but it also involves being self aware of potential toxic money beliefs.

Money (more specifically, the thought of not having enough of it) can elicit fear for many reasons, but often, the biggest is due to it triggering a sense of survival.

Chances are, at one point or another in your life, you’ve had concerns revolving around money. In fact, according to the American Psychological Association, money is the leading cause of stress in the U.S.

While learning from your past investment mistakes should certainly teach you lessons, they also shouldn’t prevent you from making sound investment decisions today.

Having the ability to accept repetitive loss increases your odds of hanging on long enough to eventually see a return, and hopefully, more than make up for the risk.

Upon making any choice in life, the concept of second-order thinking allows you to consider all aspects more thoroughly.