When things aren't going well, when do you persevere and when do you throw in the towel?
In this episode, Aaron and Trishul try to address the following question, "If things aren't going well, when do you make a change?" How do you overcome the emotional gravity of past actions to make good decisions moving forward? They discuss how impactful the status quo can be when framing a decision as an opt-in or opt-out. They also examine the disposition effect, prospect theory, and premortems. And sometimes, simply having a third-party opinion can help overcome behavioral bias.
Episode References
Investing Forever - Famous Amos and Noble Daniel
Disposition Effect
Selling Winners, Holding Losers
Black Swan
Happy Money
Thinking Fast and Slow
Freakonomics: Upside of Quitting
The Signal and the Noise
Podcast Description
Welcome to The Mind Money Spectrum Podcast where your hosts Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Financial Planner from the Bay Area, and Trishul is a Wealth Manager on the East Coast. For more information about Aaron, check out GraystoneAdvisor.com. And for more information on Trishul check out InvestingForever.com. We thank you all for listening, and stay tuned for our latest episode on our website, MindMoneySpectrum.com.
Aaron Agte and Trishul Patel go beyond traditional finance questions to help you explore how to use your money to achieve the freedom you want in life. Aaron is a Bay Area Financial Planner with GraystoneAdvisor.com, and Trishul is an East Coast Wealth Manager (InvestingForever.com). MindMoneySpectrum.com and YouTube.