Emotional Investing: You Are Your Own Worst Enemy

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When you are investing, do you feel like you are on an emotional rollercoaster, careening from feelings of euphoria to depression? Most people admit they know they shouldn’t let their emotions drive their investment decisions, but when we see the highs and lows of the market, it can be difficult not to let our emotions and investing biases override logic. Behavioral finance today on YMYW, as Joe Anderson, CFP®, and Big Al Clopine, CPA, help calm those nerves and explain how keeping a level head can help improve investing returns.

Your Money, Your Wealth® TV - S9 | E7

0:00 - Intro
1:52 - Take Emotion out of Investing
2:38 - Investing Roller Coaster
4:10 - Average Investor Performance
6:25 - Download the Emotionless Investing Guide
7:17 - True/False: Herding, being influenced by peers to follow trends, is a bias that impacts investors the most.
8:08 - Biases that Affect Investing
9:14 - Herding
9:56 - Confirmation
11:10 - Overconfidence
12:10 - Loss Aversion
13:16 - Bias Roller Coaster
13:59 - Download the Emotionless Investing Guide
14:41 - True/False: Using a “set it and forget it” strategy for investing has a bigger payoff in the long run than trying to time the market.
15:46 - Timing the Market
17:00 - Dollar Cost Averaging
19:00 - Ask the Experts: My husband insists on managing our investment accounts - with poor results. How should I approach him about using an advisor?
21:00 - Ask the Experts: I'm an emotional basket case when it comes to investing. Is getting a robo-advisor a good option?
21:58 - Pure Takeaway
22:55 - Download the Emotionless Investing Guide

IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, LLC, a Registered Investment Advisor.
• Pure Financial Advisors LLC does not offer tax or legal advice. Consult with your tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. As rules and regulations change, content may become outdated.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
CFP® - The CERTIFIED FINANCIAL PLANNER™ certification is by the Certified Financial Planner Board of Standards, Inc. To attain the right to use the CFP® designation, an individual must satisfactorily fulfill education, experience and ethics requirements as well as pass a comprehensive exam. Thirty hours of continuing education is required every two years to maintain the designation.
AIF® - Accredited Investment Fiduciary designation is administered by the Center for Fiduciary Studies fi360. To receive the AIF Designation, an individual must meet prerequisite criteria, complete a training program, and pass a comprehensive examination. Six hours of continuing education is required annually to maintain the designation.
CPA – Certified Public Accountant is a license set by the American Institute of Certified Public Accountants and administered by the National Association of State Boards of Accountancy. Eligibility to sit for the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the requirement is a U.S. bachelor’s degree which includes a minimum number of qualifying credit hours in accounting and business administration with an additional one-year study. All CPA candidates must pass the Uniform CPA Examination to qualify for a CPA certificate and license (i.e., permit to practice) to practice public accounting. CPAs are required to take continuing education courses to renew their license, and most states require CPAs to complete an ethics course during every renewal period.

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