The View From The Pinnacle
Keeping emotions separate from your financial decisions should be everyone’s goal but is it easier said than done? Let’s take a look at the most common forces driving those decisions and how it can impact your retirement plan.
Click the timestamps below to fast forward to certain points of the episode.
Thing’s You’ll Learn Along Today’s Journey
When it comes to your money, how could you not be emotionally invested? No one will care about your retirement as much as you will and it’s up to you to protect your portfolio.
Most people like to think that they always make decisions based on logic and facts, but the truth is that emotions usually play a role for all of us in the decision-making process. How much can this impact your retirement plan?
Sean Lee takes on that topic today on the Retirement Elevated Podcast. Let’s explore the primary emotions that we see pushing people to react one way or another. As you can imagine, fear and greed are always associated with money but what other emotions impact us?
And are there any times where emotional-based decisions can benefit you? We come up with a couple scenarios where this might come into play, but we’ll try to determine whether it’s actually a positive or not.
Our goal is to always help clients build a plan with decisions rooted in logic and facts rather than emotion. That’s why we wanted to have this discussion and help bring awareness to something that creates challenges for many investors.
Let’s get the show started .Listen to the full episode or click on the timestamps below to hear a specific segment.
[1:16] – We’re talking emotions and decision-making on the podcast today.
[1:39] – What kind of emotions typically drive financial decisions? Is fear and greed the main ones?
[2:27] – We want to help you take a logical process to make decisions based on facts.
[3:03] – Marc’s brother has been reacting a lot to the market movement recently. Is that something Sean has been seeing from clients as well?
[6:20] – When the market drops, your dividends essentially are bargain shopping.
[7:02] – Are there any times where it’s appropriate to factor in emotions?
Looking Back From The Mountaintop
Resources From Today’s Podcast
Sean P. Lee – Contact