Equipping Points:
When can overconfidence cause catastrophe? If you are setting your financial goals based on a rule of thumb or a certain arbitrary dollar amount, you might want to reconsider. Having overconfidence, especially in the wrong things, can lead to financial disaster.
Instead of leaning on your own understanding or your emotions, reach out to a financial advisor to make a plan together. Especially in retirement, it’s hard not to make emotional decisions. Ultimately, you need a plan that allows you to make decisions based on facts and logic.
Here’s some of what we discuss in this episode:
- Overconfidence in the stock market.
- Overconfidence in a certain dollar amount for retirement.
- Overconfidence a financial rule of thumb.
- Overconfidence in your own understanding.
- Overconfidence in your decision-making process.
If you have any questions about what we discussed on the show or want to follow up with any financial planning questions of your own, get in touch with us and schedule a visit here.
Today’s Takeaway:
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