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Do You Need to File a Tax Return This Year?
5 days ago
The Simple Dollar - The Mythology of Spending and Mental Anchors
Here is a great article describing very relevant problems in the process of trying to become financially aware. This is definitely worth sharing and reading. Anchoring not only happens in product prices (as described in the article), but is also a well-studied problem with investment management, even for professionals.
I plan to write in the near future about the impact of these types of subconscious mechanisms on financial planners and investment advisors. For today, recognize that even professionals are human. If there are mental financial "errors" you make, feel certain that financial professionals often make the exact same errors.
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