Making Financial Decisions
Challenging Assumptions in Financial Decisions
Challenging Assumptions in Financial Decisions
This week's blogpost - https://bahnsen.co/49AK0NH
In this episode of the Thoughts On Money Podcast, host Trevor Cummings, along with guests Blaine Carver and Brett Bonecutter, delve into the intricacies of making financial decisions. They explore the importance of challenging assumptions, understanding biases, and considering second-order effects when making seemingly simple financial choices, such as funding a 401k plan. The episode emphasizes the benefits of consulting financial advisors to navigate complex financial landscapes and highlights the need for a holistic approach to financial planning.
00:00 Welcome to the Thoughts On Money Podcast
00:03 Introducing the Hosts and Special Guests
00:46 The Nuances of Financial Decisions
01:27 Challenging Simple Financial Assumptions
01:44 Psychological Insights into Financial Decisions
03:09 The Role of Assumptions in Financial Planning
08:08 Behavioral Economics and Financial Decision-Making
09:59 The Impact of Inheritance on Financial Behavior
14:09 The Importance of Second Order Effects
19:10 Understanding Tax Implications in Retirement
20:00 The Fork in the Road: Financial Planning Decisions
20:28 401k vs. Taxable Investment Accounts
22:27 Tax Diversification Strategies
25:25 The Complexity of Financial Advice
30:26 The Importance of a Financial Team
37:07 Final Thoughts and Listener Engagement
Links mentioned in this episode:
Trevor is a Partner, Director of our Private Wealth Advisor Group, and Author of Thoughts on Money.
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