How to Avoid Cognitive Investing Biases on the Road to Financial Independence

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.7 • 3.1K Ratings

🗓️ 3 July 2015

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Letting your emotions influence your financial decisions, especially when it comes to your investments, is a bad idea. How can we push our emotions aside so they don’t cause us to make grave mistakes with our portfolio? Brian and Bo give you the answers in this episode, and in honor of Independence Day this weekend, discuss 15 cognitive investing biases to avoid on the road to financial independence. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,
0:07.0	investing, taxing.
0:09.0	You've got financial questions, he's got financial answers.
0:12.6	It's Brian Preston, the money guy.
0:16.0	So many of you probably are not going to hear this show until after the holidays because
0:21.9	guess what?
0:22.9	Today, the show is being released.
0:25.6	Federal holiday.
0:26.6	So, hopefully you guys are keeping yourself safe as you like your Roman candles and your
0:31.0	bottle rockets and all the other fireworks with report.
0:35.3	That was the key thing my father taught me.
0:36.9	He always had to buy the fireworks that say with report.
0:39.9	That means they go boom.
0:40.9	See, you learn something.
0:41.9	I've never heard that.
0:42.9	I've never heard that before.
0:43.9	I've never heard that before.
0:44.9	Yeah, with report.
0:45.9	That is how you know it goes boom at the end if you're looking at if you're shopping
0:49.5	for fireworks.
0:50.5	So remember, not only do you learn how to build financial independence and go beyond
0:54.4	common sense with your finances.
	...

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