Planning Briefs
Your Financial Psychology Under Current Conditions
Published Wednesday, May 19, 2021 at: 9:25 PM EDT
Financial psychology is part of the field of behavioral economics, a burgeoning social science first recognized with the award of a Nobel Prize in Economics in 2002 to Daniel Kahneman, and again in 2017 with the prize awarded to Richard Thaler. A practical benefit of behavioral economics is that investors can take assessments to understand their personal financial personality traits. Are you a risk taker? Will you follow through on a long-term plan? These are financial personality traits that behavioral economics helps you identify and manage. With traditional price-to-earnings valuation benchmarks broken and growing concerns about a bubbly market, it’s important to...
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