Nothing makes people crazier than money. Even the smartest and most level-headed individuals can become completely irrational when money is involved. Financial psychology drives the way we deal with money, so it is imperative that we acknowledge the underlying factors that determine our financial psychology. In fact, the topic is so important that Lou Scatigna, CFP® has an entire chapter in his book, The Financial Physician, that is dedicated to understanding your financial psychology.
Most people fall into a specific financial attitude. What are those attitudes, and which attitude best fits your financial psychology? Find out in this segment from The Financial Physician, where host Lou Scatigna, CFP® conducts an in-depth discussion about the topic.
Your financial advisor is like your doctor. You better have the right one, or you are going to be in trouble.