Avoiding Regret: How Our Emotions Impact Financial Decisions

In my role as a financial consultant, financial options I see a lot of people are paralyzed by. I am fascinated with how people make decisions. I concluded that our financial decisions are influenced by our emotions most of us want to admit. This month's article, we regret the way in which the most powerful emotion, will examine the affects decision making.

There are many reasons why people decide to avoid, but alas, while there are seldom explicitly acknowledged, plays an important role.

In this case, the Commission is a sin worse than the sin of omission. For example, we finally decide to invest in a condo because it seems everyone is making money, to buy at the top of the market. Sadly, we feel the loss more painful than having the opportunity to pass by.

Hindsight can deliver a powerful sting. How often do you "only if I had uttered the words ...?" While it seems clear that "hindsight is 20/20," is easy to forget all the factors that affect our original decision. We expect the best return in the end for not berating. What we "must" seems so obvious!

Jason Sweig, in his book, Your Money and Your Brain, says the counterfactual thinking. The more you indulge in this kind of thinking, you will feel more sorry.I once asked a client if he had any regrets in her life. He is saying he wished he had not been so alarmed by the answer. He never regretted having "reached for the brass ring."

What does all this suggest?Its power is an issue getting out in the open defuses!It reduces regret the things we did not, because planning involves making conscious choices. You will not regret having never played the piano, you'll never have aspired in the first place.

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