Manage episode 190967134 series 79150
Can having a bad or good day affect your investment choices? Before you decide to buy or sell that next stock ask yourself why you are doing it. Dr. Kate Levinson, author of Emotional Currency: A Woman's Guide to Building a Healthy Relationship with Money and a licensed family therapist, shares the role that emotions play in financial decision making. She and Doug explore the question of why many women avoid financial responsibilities in their day-to-day life. She tries to empower women to take an interest in their financial situations. Everyone is vulnerable, and it’s important to recognize that even the wisest decisions might not turn out how we want. Learn how to build a positive relationship with your money!Is “loss aversion” costing you more than you think?
Doug reviews his interview with Nobel Prize winner Daniel Kahneman about loss aversion and offers tips on how to fight against it. To listen to Doug’s original interview with Daniel Kahneman, click here. If you are interested in learning how Doug avoids loss aversion in his personal portfolio, watch How Do You Manage Your Own Money? To follow Dr. Kate Levinson visit her website or read her book, Emotional Currency: A Woman's Guide to Building a Healthy Relationship with Money. Dr. Levinson is also on Facebook and Twitter. If you’re not already receiving updates on new episodes, sign up now, and as a special bonus, receive Doug’s free ebook The Retirement Planning Book.