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Financial decisions are endlessly complicated. There’s a huge body of academic literature that tries to study them to look for answers on how to improve decision making while a broad industry of financial advisors also work with investors every day on decisions that affect their financial futures. But there exists a divide between the two. On The Behavioral Divide presented by Avantis Investors®, UCLA Professor Hal Hershfield examines this divide to find insights that may help advisors and investors make better financial decisions. If you’d like to share your thoughts on the podcast or our episodes, send us a note at BehavioralDivide@AvantisInvestors.com. For other contact options, please visit avantisinvestors.com/avantis-contact. The views expressed in this presentation are the speaker’s own and not necessarily those of American Century Investments. This presentation is for general information only and is not intended to provide investment, tax or legal advice or recommendations for any particular situation or type of retirement plan. Please consult with a financial, tax or legal advisor on your own particular circumstances. Hal Hershfield is not affiliated with American Century Investments.
Episodes
Wednesday Jan 10, 2024
Wednesday Jan 10, 2024
Have you ever failed to stick with a New Year’s resolution? Chances are that’s a ‘yes’. The truth is that most only last a few months. And just like those resolutions to go to the gym three times a week or cook more often, setting financial goals, such as saving more or spending less, can be difficult to maintain. Achieving our goals typically requires self-discipline. But what can we do to increase self-regulation and resist temptation when it comes to our financial decisions?
That’s the topic of this episode. In search of insights, we speak with Professor Johanna Peetz of Carleton University, who has done fascinating research on self-regulation tactics with respect to financial goals. She offers her findings on what seems to work best. We also talk with Max Kayajanian, CFP, a wealth advisor with the Wealth Enhancement Group. He shares tactics he offers to his clients, both younger and older, to help them stay on course with their financial plans.
If you enjoy the show, please let us know by giving our series a five-star rating. We’d also love to hear from you on this topic of age and financial decision making. To join in on the discussion, send us a note at BehavioralDivide@AvantisInvestors.com.
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