Behavioral Finance - 9 Biases That Can Impact Your Investments

In this video, we discuss 9 common behavioral finance biases that can impact investment decision-making. We cover herd mentality, confirmation bias, overconfidence, loss aversion, anchoring, recency bias, FOMO, the gambler's fallacy, and more.

Understanding these biases can help protect your portfolio. We also provide tips on how to safeguard against emotional investing pitfalls like developing a long-term plan, having patience and discipline, diversifying, and working with a fiduciary advisor.

This content was written by Spencer S. Hall CFP®, RLP ®, CKA ®, MBA, MDiv

Spencer is a Certified Financial Planner™ with 14 years in the field of retirement and financial planning. As a second-generation financial advisor at Retirement Planning Services, Spencer brings a wealth of experience and passion to help clients align their wealth with their core values.

Advisory services offered through Retirement Planning Services, LLC.

The information in this article is intended for general educational and informational purposes only, and should not be construed as investment advisory, financial planning, legal, tax, or other professional advice based on your specific situation. Please consult with your professional advisor(s) before taking any action based on its contents.