Over the last several weeks, we’ve discussed the blind spots that investors can develop. The psychology of investing refers to these blind spots as “cognitive bias,” where our brains are hard-wired to take shortcuts, oversimplify complex concepts or be overconfident in our decision-making processes. The Magellan Group has outlined 10 of those biases, and on our show today we will give examples as we’ve experienced them either with clients or on a global scale.
While it’s important to have help with the numbers, it’s also very important to get perspective on the head game behind them. In fact, that’s why people tend to hire advisors … hint … hint!
Join us today as we dive deeper into the topic along with a brush-up lesson on income strategies in retirement. That in and of itself is a trip!