How to recognize biases to avoid financial mistakes.
It’s not always easy to make wise investment decisions, and this is especially true during uncertain times. When we’re stressed, we tend to make choices more intuitively and are less likely to spend time carefully sifting through all the pros and cons. The trouble is that intuitive snap decisions won’t necessarily help us meet our long-term financial goals.
Taking a moment to step back and work to understand the cognitive biases that may steer us in the wrong direction can help us make better decisions about our finances and reach the goals we are striving to achieve.
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