Why Financial Decision Making Isn't Always Rational

Did you stop for coffee and breakfast this morning, and do you plan on grabbing a sandwich at a café for lunch? Have you considered how eating out every day could be taking a bite of your wallet?In this episode, Peter Raskin explains how the small decisions we make can be consequential— and why financial decision making isn’t always rational.Related: Investment Tax Management Recommendations

In this episode, you will learn:

  • How confirmation bias can impact the stocks you buy, and why this isn’t necessarily a good (or bad) thing
  • Why the tendency to be overconfident in our own abilities can lead to irrational purchasing or decision-making
  • What hindsight bias is and why we seem to notice it in others before we notice it in our own financial behavior
  • How recent market events can create biases in our purchasing habits
  • And more!
  • Tune in now and learn how to recognize your biases(we all have them)!Resources: Raskin Planning Group