Nobel Prize-winning psychologist Daniel Kahneman demonstrated this with his loss aversion theory, showing that people feel the pain of losing money more than they enjoy gains. The natural instinct is to flee the market when it starts to plummet, just as greed prompts people to jump back in when stocks are skyrocketing. Both can have negative impacts.
But smart investing can overcome the power of emotion by focusing on relevant research, solid data and proven...
For young families, the immediate cost of raising a child can be testing financially. Just when you thought you were in the clear from student loan repayments and your never-ending car lease, a hungry mouth appears with countless sleepless nights and a hefty price tag attached. But diapers, baby formula, and stuffed toys aren’t the only financial burdens parents should worry about.
In the hypercompetitive world we live in today, a post-secondary degree is...
Has a dog or cat grabbed hold of your heart? It doesn’t take much. A paw on the arm. A lick on the nose, or a soft purr or whimper can turn most of us into dog or cat parents in minutes. With animal shelters across the U.S. frequently at their max, there are a record number of dogs and cats available for adoption. Of course, there are also those that are looking for a particular breed, and are willing to spend hundreds, if not thousands of dollars when they...
Most financial planners advise never tapping retirement savings to pay for your kid's education. Yet about one-third of Americans with kids under 18 say they plan to use retirement savings...
It’s a classic debate. What wins championship games? A great offense or a great defense? You can take the chicken way out and say “both,” but that defeats the purpose of the question. While it’s technically correct, it’s not the answer that leads to a super victory...
Residents, doctors and medical students are often the target of financial advisors, brokers and insurance agents because of their high earnings potential, which will most likely lead to significant investing. However, if you are in the medical profession, it's important for you to make your own informed decisions when it comes to your financial health rather than depending on a financial advisor, especially a non-fiduciary advisor, to tell you what to do with your money.
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