Mile High FI Podcast Why Do People Do Dumb Things? Part 2 | MHFI 156
Apr 11, 2023
01:09:57
Doug and Dusti are back for Part 2 on cognitive biases and how they shape our financial decisions.
- How a scarcity mindset can hold you back
- Desire to be like everyone else
- Decision paralysis
- Default bias
- Holding onto bad investments
- Are we more motivated when we're close to reaching a goal?
- Connect with Dusti on Instagram
- Doug’s site - Check out the NEW Sleep Post.
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**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**
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Email us here: doug@milehighfi.com or carl@milehighfi.com 0:00 Intro 2:50 Having a scarcity mindset 8:14 The ''what the hell'' effect 13: 35 Social proof and the desire to be like other people 19:08 The cost of friction and decision paralysis 25:34 Default bias 37:20 Why we hold on to bad investments 45: 18 Getting more motivated at the finish line 55:12 Our favorite desserts