The most dangerous factor that can blow up your retirement savings is you! Financial experts Joe Anderson and Alan Clopine describe the different types of investor behavioral bias that can cause us to make bad investment decisions.
Special guest from Pure Financial, Matt Balderston explains how we are all susceptible to biases that can have a negative impact on your retirement portfolio.
Important Points:
1:50 – The Behavior Gap
2:26 – “Get Rick Quick” Schemes
3:45 – Behavioral Investing Biases and How to Fix Them
4:45 – Overconfidence Bias
14:15 – The Biggest Roadblock to Successful Investing: Loss Aversion
17:18 – Matt Balderston discusses: Confirmation Bias, Self-Serving Bias & Recency Bias
24:13 – How to Set Up a Disciplined Approach to Investing
26:19 – Email Question #1: I just got a new job. What should I do with my old 401(k)?
26:59 – Email Question #2: If I take funds from my IRA, how long do I have to redeposit the funds without being taxed on the withdrawal?
