Listen to Episode 22 Summary of Episode 22: A pizza story. (1:23) A sunk cost trap or a sunk cost fallacy when a person is failing to see the best outcome because they have a bias resulting from a previous or ongoing commitment. (3:05) Watch a FREE online financial coaching video: Visit imgwealthacademy.com An illustration […]
Tags: Amos Tversky, Daniel Kahneman, investments, loss aversion, Mindset, Personal Finance, Podcast, Prospect Theory, sunk cost, sunk cost fallacy, sunk cost trap
Listen to Episode 20 Summary of Episode 20: The story of my visit to my doctor friend. (1:00) I’m a firm believer that you should not invest on things that you don’t understand. That’s why the first step is always to invest in yourself, to invest in knowledge. (3:45) Watch a FREE online financial coaching […]
Tags: afraid to lose money, fear of losing money, Freelancing, Investing, loss aversion, Mindset, overcoming your fears, Podcast
Nobody wants to lose money. And when it comes to investing, this is a possibility. Unfortunately, this fact has turned a lot of people off and made them choose to not invest at all. I used to be like that, too. I was a strong believer that when it comes to my hard-earned money, “It’s […]
Tags: fear of losing money, fear of losing money phobia, fear of loss, fear of not having enough money, Investing, investments, loss aversion
Hi, my name is Fitz Villafuerte and I’m a Registered Financial Planner living in the Philippines. In 2007, I started this blog to help people learn how to achieve financial freedom. Read my story here.
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