does psychology affect your money decisions

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DOES PSYCHOLOGY AFFECTYOUR MONEY DECISIONS?

Consider the following…

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You drove 15 minutes to the mall to save $10 on a computer monitor that cost $100.

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You drove 15 minutes to the mall to save $10 on a computer monitor that cost $100.

Now you need a new refrigerator, which costs $500.

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You drove 15 minutes to the mall to save $10 on a computer monitor that cost $100.

Now you need a new refrigerator, which costs $500.

Will you drive to the mall to save $10 on the refrigerator?

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Here’s another one…

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Your lawn is the same size as your neighbor’s lawn…

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Your lawn is the same size as your neighbor’s lawn…

Your neighbor says he will rake all your leaves for $10.

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Your lawn is the same size as your neighbor’s lawn…

Your neighbor says he will rake all your leaves for $10.

You tell him, “no thanks.”

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Your lawn is the same size as your neighbor’s lawn…

Your neighbor says he will rake all your leaves for $10.

You tell him, “no thanks.”

Your neighbor offers you $20 to rake all his leaves.Investment Advisor Representatives offering Securities and Advisory Services through UNITED PLANNERS FINANCIAL SERVICES OF AMERICA; Member FINRA & SIPC. East Harbour Capital and United Planners are not affiliated. This communication is strictly intended for individuals residing in the following states: AZ, CA, IN, NY, OR, NC. No offers may be made or accepted from any resident outside the specific state(s) referenced.

Your lawn is the same size as your neighbor’s lawn…

Your neighbor says he will rake all your leaves for $10.

You tell him, “no thanks.”

Your neighbor offers you $20 to rake all his leaves.

Will you rake your neighbor’s leaves?Investment Advisor Representatives offering Securities and Advisory Services through UNITED PLANNERS FINANCIAL SERVICES OF AMERICA; Member FINRA & SIPC. East Harbour Capital and United Planners are not affiliated. This communication is strictly intended for individuals residing in the following states: AZ, CA, IN, NY, OR, NC. No offers may be made or accepted from any resident outside the specific state(s) referenced.

Emotions impact investing decisions…

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Does this cycle feel familiar?

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Source: Amended from version on OptionAlpha.com

RELIEF

DEPRESSION

FEAR

EUPHORIA

OPTIMISM

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The brain carries Negativity Bias…

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“I remember that stock I bought”…

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“and that house I bought…”

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“and that other house I bought…”

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The brain carries Confirmation Bias…

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leading to overconfidence…

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“that stock always recovers and goes back up”…

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“this investment strategy always makes me money”…

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bringing you back to this…

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Source: Amended from version on OptionAlpha.com

RELIEF

DEPRESSION

FEAR

EUPHORIA

OPTIMISM

Investment Advisor Representatives offering Securities and Advisory Services through UNITED PLANNERS FINANCIAL SERVICES OF AMERICA; Member FINRA & SIPC. East Harbour Capital and United Planners are not affiliated. This communication is strictly intended for individuals residing in the following states: AZ, CA, IN, NY, OR, NC. No offers may be made or accepted from any resident outside the specific state(s) referenced.

BREAK THE CYCLE…

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UNDERSTAND YOUR EMOTIONS & MONEY…

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Riskalyze

GET STARTED

CLICK Riskalyze

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Sources:• Amelia Josephson, “Average Retirement Savings: Are You Normal?”, SmartAsset.com, July 1, 2015.• Brian Stoffel, “The Average American’s Retirement Savings by Age – And Where So Many Go Wrong”,

The Motley Fool.com, October 3, 2015.• Dr. Richard H. Thaler, “Unless You Are Spock, Irrelevant Things Matter in Economic Behavior”, The New

York Times.com, May 8, 2015.• Michael Lewis, “The Economist Who Realized How Crazy We Are”, Bloomberg View, May 29, 2015• Robert Powell, “Behavioral Economist Richard Thaler on the Key to Retirement Savings”, The Wall Street

Journal.com, November 29, 2015.• Mike Patton, “Seven of the Most Common Investment Mistakes”, Forbes.com, August 26, 2013.• Peter Ubel, “Q&A With Richard Thaler on What it Really Means to be a ‘Nudge’”, Forbes.com, February

20, 2015.• Robert J. Shiller, “From Efficient Markets Theory To Behavioral Finance”, Cowles Foundation Paper NO.

1055, 2003.• Raj Chetty, John Friedman, Soren Leth-Petersen, Torbin Heien Nielsen & Tore Olsen, “Active vs. Passive

Decisions and Crowd-Out in Retirement Savings Accounts: Evidence from Denmark”, The Quarterly Journal of Economics, Oxfordjournals.org

• 1stock1.com• Investopedia.com

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