Last week we looked at four types of “stinking thinking,” cognitive biases that can contribute to poor investment decisions. Here are six more. Monte Carlo Fallacy. This is placing too much emphasis on the likelihood of an event happening, just because it...
Watch this video on YouTube People who successfully build wealth have one trait in common: they understand the art of frugality. These unassuming millionaires know how to live on much less than they make, and they know how to save money. But those behaviors...
Last week my husband and I hired a painter to put a fresh coat of paint on our hundred year old home. True to form, my husband negotiated a good deal and got the contractor down $600. When he told me he saved this amount of money, he immediately started to brainstorm...
In that conversation when you checked whether your beloved is an “Aquarius” or “Pisces” you’d have done well to learn how your money “signs” matched, too. Money differences have real consequences. We talked to South Dakota financial planner Rick Kahler, an expert on...
As we’re faced with another period of dramatic market swings, investors who panicked and sold everything during the last crash have a chance to take a different course this time. Will they? Some investors who got out of the market last time learned from that...
