Investing is difficult, and for some of us, it’s very hard to begin the process. Not only are we cautious of starting, but we can become cautious about staying in the market. The hesitancy some investors face stems from an inherent behavioral trait. The prewired trait can be either conquered or leave us in a vicious cycle that will ruin our chances at a return on our investment.
In today’s podcast episode, Wes dives into loss aversion, the psychological makeup that makes investing so tough for humans. He also shares a personal experience regarding loss aversion, the pain of losing versus the pleasure of gaining, four steps that we can take to combat the inherent behavior, and how those steps can increase our investing success.
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