Personal Finance for Long-Term Investors - The Best Interest

Manage *Yourself* More Than Your Portfolio | Hanna Horvath - E116

5 snips
Sep 17, 2025
In this engaging conversation, Hanna Horvath, a Certified Financial Planner and managing editor at Bankrate, delves into the intriguing psychology of money. She explains how childhood experiences shape our financial habits and the importance of emotional discipline over mere willpower. Listeners learn about the identity shifts that retirement can bring and how to manage anxiety during this transition. With practical advice on preparing for market volatility and reframing our financial mindset, Hanna emphasizes that true wealth comes from awareness and intentionality.
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INSIGHT

Mimetic Desire Fuels Fads And Bubbles

  • Humans copy desires from others, creating fads and mimetic demand that inflate value beyond intrinsic worth.
  • Social media magnifies mimetic desire by amplifying trends and rewarding attention-grabbing content.
INSIGHT

The Hedonic Treadmill Keeps Happiness Flat

  • The hedonic treadmill causes temporary happiness from purchases to fade as people adapt to new possessions.
  • Chasing more through consumption often increases spending without lasting increases in contentment.
ADVICE

Track Desires To Spot Hedonic Drift

  • Write down what you want, why you want it, and when you wanted it to track whether desires actually increase lasting happiness.
  • Review entries over time to spot hedonic adaptation and curb comparison-driven spending.
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