Why Smart People Make Big Money Mistakes and How to Correct Them

Why Smart People Make Big Money Mistakes and How to Correct Them
Author: Gary Belsky
Publisher: Simon and Schuster
Total Pages: 343
Release: 2010-01-12
Genre: Business & Economics
ISBN: 1439169748

Protect and grow your finances with help from this definitive and practical guide to behavioral economics—revised and updated to reflect new economic realities. In their fascinating investigation of the ways we handle money, Gary Belsky and Thomas Gilovich reveal the psychological forces—the patterns of thinking and decision making—behind seemingly irrational behavior. They explain why so many otherwise savvy people make foolish financial choices: why investors are too quick to sell winning stocks and too slow to sell losing shares, why home sellers leave money on the table and home buyers don’t get the biggest bang for their buck, why borrowers pay too much credit card interest and savers can’t sock away as much as they’d like, and why so many of us can’t control our spending. Focusing on the decisions we make every day, Belsky and Gilovich provide invaluable guidance for avoiding the financial faux pas that can cost thousands of dollars each year. Filled with fresh insight; practical advice; and lively, illustrative anecdotes, this book gives you the tools you need to harness the powerful science of behavioral economics in any financial environment.

Cold Hard Truth On Men, Women, and Money

Cold Hard Truth On Men, Women, and Money
Author: Kevin O'Leary
Publisher: Simon and Schuster
Total Pages: 272
Release: 2013-09-17
Genre: Business & Economics
ISBN: 1476734453

A new financial guide on how to avoid money mistakes at every stage of life, from bestselling author and TV superstar Kevin O’Leary—“a completely unique personality. He is able to say things that are sharp and funny but ultimately meaningful” (Los Angeles Times). Don’t spend too much. Mostly save. Always invest. This is simple advice, but it’s often the simple advice that’s easy to swallow and hard to follow. Kevin O’Leary understands that getting a handle on your personal finances can be challenging at any age. Whether you’re a parent struggling to explain savings to your children, a student contemplating a big loan to pay for school, a newly engaged couple considering joint bank accounts, or a baby boomer entering retirement, Kevin offers solid, practical advice to help you make—and keep—more money. As a star on ABC’s Shark Tank, Kevin’s success with money management and in business is legendary. But he’s made mistakes along the way, too, and he’s written this book so others can benefit from his experiences. Each chapter is geared to a specific age or stage in life and focuses on simple changes you can make to avoid debt, save money, and invest for a brighter future. You’ll find real-life examples of common money mistakes and strategies for avoiding them, “Cold Hard Truth” quizzes and charts aimed at boosting your financial wisdom, and tips and tricks for making more money and growing it faster to achieve financial freedom. The Cold Hard Truth on Men, Women, and Money offers an invaluable opportunity to walk through some of life’s biggest decisions with one of the sharpest financial minds today.

Big Mistakes

Big Mistakes
Author: Michael Batnick
Publisher: John Wiley & Sons
Total Pages: 141
Release: 2018-05-22
Genre: Business & Economics
ISBN: 1119366410

A Must-Read for Any Investor Looking to Maximize Their Chances of Success Big Mistakes: The Best Investors and Their Worst Investments explores the ways in which the biggest names have failed, and reveals the lessons learned that shaped more successful strategies going forward. Investing can be a rollercoaster of highs and lows, and the investors detailed here show just how low it can go; stories from Warren Buffet, Bill Ackman, Chris Sacca, Jack Bogle, Mark Twain, John Maynard Keynes, and many more illustrate the simple but overlooked concept that investing is really hard, whether you're managing a few thousand dollars or a few billion, failures and losses are part of the game. Much more than just anecdotal diversion, these stories set the basis for the book's critical focus: learning from mistakes. These investors all recovered from their missteps, and moved forward armed with a wealth of knowledge than can only come from experience. Lessons learned through failure carry a weight that no textbook can convey, and in the case of these legendary investors, informed a set of skills and strategy that propelled them to the top. Research-heavy and grounded in realism, this book is a must-read for any investor looking to maximize their chances of success. Learn the most common ways even successful investors fail Learn from the mistakes of the greats to avoid losing ground Anticipate challenges and obstacles, and develop an advance plan Exercise caution when warranted, and only take the smart risks While learning from your mistakes is always a valuable experience, learning from the mistakes of others gives you the benefit of wisdom without the consequences of experience. Big Mistakes: The Best Investors and Their Worst Investments provides an incomparable, invaluable resource for investors of all stripes.

How We Know What Isn't So

How We Know What Isn't So
Author: Thomas Gilovich
Publisher: Simon and Schuster
Total Pages: 228
Release: 2008-06-30
Genre: Psychology
ISBN: 1439106746

Thomas Gilovich offers a wise and readable guide to the fallacy of the obvious in everyday life. When can we trust what we believe—that "teams and players have winning streaks," that "flattery works," or that "the more people who agree, the more likely they are to be right"—and when are such beliefs suspect? Thomas Gilovich offers a guide to the fallacy of the obvious in everyday life. Illustrating his points with examples, and supporting them with the latest research findings, he documents the cognitive, social, and motivational processes that distort our thoughts, beliefs, judgments and decisions. In a rapidly changing world, the biases and stereotypes that help us process an overload of complex information inevitably distort what we would like to believe is reality. Awareness of our propensity to make these systematic errors, Gilovich argues, is the first step to more effective analysis and action.

Investment Mistakes Even Smart Investors Make and How to Avoid Them

Investment Mistakes Even Smart Investors Make and How to Avoid Them
Author: Larry Swedroe
Publisher: McGraw Hill Professional
Total Pages: 321
Release: 2011-12-08
Genre: Business & Economics
ISBN: 0071786821

A guide to avoiding investment mistakes reveals the most common errors investors make and provides a framework for rethinking investment and money management strategies.

The Dumb Things Smart People Do with Their Money

The Dumb Things Smart People Do with Their Money
Author: Jill Schlesinger
Publisher: Ballantine Books
Total Pages: 290
Release: 2020-02-04
Genre: Business & Economics
ISBN: 0525622187

You’re smart. So don’t be dumb about money. Pinpoint your biggest money blind spots and take control of your finances with these tools from CBS News Business Analyst and host of the nationally syndicated radio show Jill on Money, Jill Schlesinger. “A must-read . . . This straightforward and pleasingly opinionated book may persuade more of us to think about financial planning.”—Financial Times Hey you . . . you saw the title. You get the deal. You’re smart. You’ve made a few dollars. You’ve done what the financial books and websites tell you to do. So why isn’t it working? Maybe emotions and expectations are getting in the way of good sense—or you’re paying attention to the wrong people. If you’ve started counting your lattes, for god’s sake, just stop. Read this book instead. After decades of working as a Wall Street trader, investment adviser, and money expert for CBS News, Jill Schlesinger reveals thirteen costly mistakes you may be making right now with your money. Drawing on personal stories and a hefty dose of humor, Schlesinger argues that even the brightest people can behave like financial dumb-asses because of emotional blind spots. So if you’ve saved for college for your kids before saving for retirement, or you’ve avoided drafting a will, this is the book for you. By following Schlesinger’s rules about retirement, college financing, insurance, real estate, and more, you can save money and avoid countless sleepless nights. It could be the smartest investment you make all year. Praise for The Dumb Things Smart People Do with Their Money “Common sense is not always common, especially when it comes to managing your money. Consider Jill Schlesinger’s book your guide to all the things you should know about money but were never taught. After reading it, you’ll be smarter, wiser, and maybe even wealthier.”—Chris Guillebeau, author of Side Hustle and The $100 Startup “A must-read, whether you’re digging yourself out of a financial hole or stacking up savings for the future, The Dumb Things Smart People Do with Their Money is a personal finance gold mine loaded with smart financial nuggets delivered in Schlesinger’s straight-talking, judgment-free style.”—Beth Kobliner, author of Make Your Kid a Money Genius (Even If You’re Not) and Get a Financial Life

Dear Investor, What the HELL are You Doing?

Dear Investor, What the HELL are You Doing?
Author: Ken Weber
Publisher: Greenleaf Book Group
Total Pages: 248
Release: 2015-01-06
Genre: Business & Economics
ISBN: 1626341621

Even Smart people do dumb things with their money. Are you one of them? Despite its irreverent title, Dear Investor, What the Hell Are You Doing? has a serious purpose—to help you identify and fix the common blunders you may be making with your money. Long-time investment advisor Ken Weber exposes the minefield of financial tricks and psychological traps that ensnare millions of investors—beginners and old pros alike—and shows you what you should be doing instead. Whether you’re investing in stocks, bonds, mutual funds, annuities, insurance, or other investment vehicles, this book gives you the facts you need to make smarter moves with your money. Ken Weber has had thousands of conversations with investors of every type, and this book stems directly from those real-world experiences. He’s heard it all, and now he wants to stop you from stepping into the most common financial potholes.

Why Smart People Can be So Stupid

Why Smart People Can be So Stupid
Author: Robert J. Sternberg
Publisher: Yale University Press
Total Pages: 276
Release: 2002-01-01
Genre: Psychology
ISBN: 9780300101706

One need not look far to find breathtaking acts of stupidity committed by people who are smart, or even brilliant. The behavior of smart individuals--from presidents to prosecutors to professors--is at times so amazingly stupid as to seem inexplicable. Why do otherwise intelligent people think and behave in ways so stupid that they sometimes destroy their livelihoods or even their lives? This book is the first devoted to investigating what the most current psychological research can tell us about stupidity in everyday life. The contributors to the volume, renowned scholars in various areas of human intelligence, present fascinating examples of people messing up their lives, and they offer insights into the reasons for such behavior. From a variety of perspectives, the contributors discuss: - The nature and theory of stupidity - How stupidity contributes to stupid behavior - Whether stupidity is measurable While many millions of dollars are spent each year on intelligence research and testing to determine who has the ability to succeed, next to nothing is spent to determine who will make use of their intelligence and not squander it by behaving stupidly. Why Smart People Can Be So Stupid focuses on the neglected side of this discussion, reviewing the full range of theory and research on stupid behavior and analyzing what it tells us about how people can avoid stupidity and its devastating consequences.

Money and Mindfulness

Money and Mindfulness
Author: Lisa Messenger
Publisher:
Total Pages: 208
Release: 2015-09
Genre: Budget in business
ISBN: 9780994310927

DO YOU HAVE BIG DREAMS AND BIG PLANS, BUT LACK THE RESOURCES TO PURSUE THEM? DO YOU FIND YOURSELF SAYING "IF ONLY I HAD THE MONEY..." ARE YOU TOO EMBARRASSED TO ASK OTHERS FOR HELP? In her best-selling book Daring & Disruptive and its sequel Life & Love, serial entrepreneur Lisa Messenger shared the business insights gathered in more than a decade of success across multiple industries, including how to identify your true purpose, pinpoint your passions and create the working life most only dream of. But, let's be honest, you need the means to make it all happen.In her latest book, she tackles a topic with a stigma - money! What would you do if money was no object, how can anyone find profit in the impossible and - her personal bugbear - when will "gunnas" stop using lack of money as an excuse for not stepping out of their comfort zone and pursuing their purpose?Mixing advice from mentors, experts and famous role models, with lessons learned in her own entrepreneurial journey, Lisa reveals how she built a global brand, and launched a magazine sold in 37 countries, without having to borrow a single cent from a bank. This is from a woman who, years before, could barely afford to buy toothpaste.In the self-deprecating manner that has become her trademark style, Lisa shares her own journey, clearly stating she is not a guru when it comes to finances, but has used fresh thinking and creative ideas to fuel a burgeoning business. She will help you appreciate your real value, amplify your self-worth and find the means to achieve everything you dream of.Many of us are raised to believe it's rude to talk about money. But as a self-proclaimed disruptor, this entrepreneur wants to put a bomb in the bank vault and blow it wide open...

Rich Dad's Increase Your Financial IQ

Rich Dad's Increase Your Financial IQ
Author: Robert T. Kiyosaki
Publisher: Business Plus
Total Pages: 192
Release: 2008-03-26
Genre: Business & Economics
ISBN: 0446515914

For years, Robert Kiyosaki has firmly believed that the best investment one can ever make is in taking the time to truly understand how one's finances work. Too many people are much more interested in the quick-hitting scheme, or trying to find a short-cut to real wealth. As Kiyosaki has preached over and over again, one has to truly under the process of how money works before one can start out on trying to escape the daily financial Rat Race. Now, in this latest book in the popular Rich Dad Poor Dad series, Kiyosaki lays out his 5 key principles of Financial Intelligence for all to understand. In INCREASE YOUR FINANCIAL IQ, Kiyosaki provides real insights on these key steps to wealth: o How to increase your money -- how to assess what you're really worth now, what your prospects are, and how to start mapping out your financial future. o How to protect your money -- for better or for worse, taxes are a way of life. Kiyosaki shows you that "it's not what you make....it's what you keep." o How to budget your money -- everybody wants to live large, but you have to learn how to live within your budget. Kiyosaki shows you how you can. o How to leverage your money -- as you build your financial IQ, knowing how to put your money to work for you is a crucial step. o How to improve your financial information -- Kiyosaki shows you how to accelerate your wealth as you learn more and more.