Episode 116: How To Account For Emotions In Your Financial Plan

Apple PodcastsSpotifyAmazon MusicTuneIniHeartRadioPodbean

Today’s Smart Money Question:

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. Matt will share examples he has seen where emotions have influenced the thought process of individuals. Understanding the emotions that come from financial planning and putting the right strategies in place leads to making the best decisions.

Apple PodcastsSpotifyGoogle PodcastsStitcheriHeartRadioTuneInSubscribe via RSSShareLeave a ReviewDownloadListen in a New WindowSoundCloudSubscribe on AndroidPlayer Embed

(Click the featured times below to jump forward in the episode)

Here Are Just A Handful Of Things You’ll Learn:

Saving for retirement takes years of planning, strategy and discipline. It also includes making hard and important decisions that have lasting impacts. The part of these decisions that often goes overlooked is the emotion that is behind them.

Money brings out many different emotions and influences humans greatly for the good and often times the bad. A poor emotional decision could have a big impact for many years for not only an individuals life but for their family as well. It is very important to uncover and recognize emotions when making a financial decision and balance that with logic, to come to the best personal outcome.

Matt will explain the common emotions he sees in this industry. He shares examples of how it led people to choices that were fueled by what they were feeling and not logic. This episode of Smart Money Questions will help you discover what emotions you are feeling when you think about financial decisions and what you can do to become more logical.

[1:26] –Peoples concerns are often times driven by emotion. Matt will break down the good and bad behind emotions in financial planning.

[3:34] –Matt explains the different types of emotions people have when dealing with money.

[4:53] – The emotion of fear is always around us. It is key to be cautious of fear and not let it take hold how we make decisions.

[8:54] – Greed is an important emotion to identify and ensure it is not negatively affecting your financial planning.

[12:00] – Loyalty to companies and family is an emotion Matt encounters that has led people to make poor decisions.

[16:38] – Matt states the importance of understanding your emotion and using logic to come to decisions.

[17:00] – Strategically making decisions, knowing all the options and potential risks leads to the best approach to financial planning.

 

Additional Podcast Episodes:

 

Do You Have A Smart Money Question?

Ask Matt your smart money question. Click here.

More From Matt:

The host: Matt Hausman – Contact – Resources – Call: 610-719-3003

 

Subscribe To The “Smart Money Questions” Podcast:

Share This Post

More To Explore

Load More

GOT A SMART MONEY QUESTION?

Do you have a question that we haven’t covered yet? Just leave me a message and your question just might be on my next podcast!

Why Ask A Question?

Although everyone’s situation is different, your question might help hundreds of other people who are in the same boat. Don’t be afraid of the answers, be afraid of not asking the question!

What Do You Get?

The clearest answer I can give on how to address your retirement question and links to resources that may help you.

Don't Have A Microphone?

Just fill out the form below to ask your question!

SCHEDULE A TIME TO MEET

It’s fast and easy to make an appointment with Matt. You can start with a 30-minute conference call or meet in-person at the office in Malvern, PA.

Book Appointment

Contact

Privacy Policy

All written content on this site is for information purposes only. Opinions expressed herein are solely those of Smart Money Questions and our editorial staff. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual advisor prior to implementation. ©2018 All written content on this site is for information purposes only. Opinions expressed herein are solely those of Old Security Group and our editorial staff. Material presented is believed to be from reliable sources, however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual advisor prior to implementation. Fee based financial planning and investment advisory services are offered by Old Security Group a Registered Investment Advisor in the State of Pennsylvania. Insurance products and services are offered through Old Security Trust Corp. Old Security Group and Old Security Trust Corp. are affiliated companies. The presence of this web site shall in no way be construed or interpreted as a solicitation to sell or offer to sell investment advisory services to any residents of any State other than the States of Pennsylvania, Delaware and Maryland or where otherwise legally permitted.