As humans, our survival instincts were designed for lions and tigers – not bears and bulls. While an adrenaline rush might have once helped us flee from a tiger, when it comes to a fluctuating market, sudden movements aren’t necessarily the way to go.
So how do we know if we’re relying on logic versus instinct? After all, our subconscious biases are based on much more than evolution. They’re affected by how we were raised, the things we think we know, what we hear from our neighbor and what we see on the news, along with any number of other factors. Plus, did we mention they’re subconscious?
The good news is that by being aware of some of the common biases many of us give in to, you might have an easier time catching yourself before you make a costly decision. It’s likely you’ve fallen for one or more of the four most potent biases. Here’s a look at the tricks your mind can play and how we can help you master them.
We all have subconscious biases – but that doesn’t mean we have to let them get the best of us or our finances. By working with our team, you not only have an accountability partner but a knowledgeable resource prepared to advocate for your best interests.