Money Over 50 Financial Advisers
  • Home
  • What We Do
  • Who We Are
  • Podcast
  • Blog
  • FAQ
  • Contact Us

The wrong people to have around you – financially

13/4/2020

 
Meeting in office with Man and Woman
​With most things in life, the people you choose to surround yourself with have a large impact and influence on your decisions. This is no different when it comes to your financials.
Having no one around you, financially
  • Being able to talk about your financial situation with someone is important.
  • Having someone to talk to can help reduce anxiety and may even help you see solutions to problems you couldn’t see before.

The “Yes” person
  • Very supportive people of their friends.
  • However, they will agree with anything you decide on even if they have good reasons to disagree.
  • This becomes an issue when you genuinely need feedback and trust their opinion.

The man with the hammer
  • “To a man with a hammer, everything looks like a nail”.
  • If someone has an incentive to look at things a certain way, that’s how they’ll see things.

The expert in their own field
  • They may be experts at a topic or field, but they don’t know what they don’t know.
  • It’s not what they get wrong, but what they miss when it comes to decisions.

People more worried about sounding good than being right
  • These are the people that follow that latest fads or topics of popularity to sound interesting.

The “more is better” person
  • When around people like this, you may have the feeling of missing out. Especially, when they’ve recently had a big win with an investment or something similar.
  • Your situation and goals may be completely different, and the risk might completely outweigh the reward.

 “Strengtheners”
  • These are people who need the people around them to make the same decisions as them, so they are not in the situation alone.
  • They do not care to think about the situation the people around them are in.

“The Joneses”
  • “Keeping up with the Joneses”.
  • These are people who look the part of large wealth but are usually underneath a lot of debt.
  • This is an irrational, psychological habit to overspend on material items, to your own detriment.

There are many different types of biases towards people’s opinions and it’s important to be aware of that when around others.

Written by Ali Hogue

Comments are closed.

    Author

    Dallas Davison, Michael Hogue and Ali Hogue.

    Archives

    March 2021
    February 2021
    January 2021
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    April 2018
    March 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    June 2016
    May 2016
    April 2016
    February 2016
    November 2015
    July 2015
    June 2015

    Categories

    All
    Achieving Financial Goals
    Active Management
    Age Pension
    Alice Springs
    Assets
    Behaviour
    Budget
    Budgeting
    Budgeting For Retirement
    Business Owner
    Cash
    Children
    Clients
    Decision Making
    Downsizing
    Effective Budgeting
    Expense
    FAQ
    Fees
    Financial Adviser
    Financial Advisor
    Financial Advisor Hughenden
    Financial Advisor Julia Creek
    Financial Advisor Richmond
    Financial Advisor Winton
    Financial Freedom
    Financial Goals
    Financial Mistakes
    Financial Myths
    Financial Planner
    Financial Planners Townsville
    Financial Planning
    Financial Planning Charters Towers
    Financial Planning Mount Isa
    Financial Planning North Queensland
    Financial Planning Townsville
    Financial Priorities
    Financial Recovery
    Financial Risk
    Financial Risks
    Financial Security
    Financial Strategy
    Financial Support
    Hand Outs
    Hand-outs
    Happy Money
    Hedonic Treadmill
    How To Save Money
    Index Management
    Inflation
    Inheritance
    Interest Rates
    Investment
    Investment Property
    Investment Winton
    Julia Creek
    Legislation Changes
    Liquidity
    Listener Question
    Money
    Money Over 50
    Mortgage
    Mount Isa
    Mount Isa Superannuation
    Norway Sovereign Wealth Fund
    Preparing For Retirement
    Profit
    Property
    Renting
    Renting Vs Buying
    Retirement
    Retirement Goals
    Retirement Planning
    Retirement Planning At 50
    Retirement Planning Julia Creek
    Retirement Planning Risks
    Retirement Planning Winton
    Retirement Savings
    Retirement Winton
    Risk
    Salary Sacrifice
    Saving
    Savings
    Semi-retirement
    Share Market
    Shares
    Strategies
    Superannuation
    Superannuation Contributions
    Superannuation Hughenden
    Tax
    Taxable Income
    Travel Managers
    Volatility

    RSS Feed

​HOME
WHAT WE DO
WHO WE ARE
PODCAST
BLOG
CONTACT US

Important Information
Financial Services Guide
Privacy Policy
Money Over 50 Financial Advisers
​
Tel 07 4772 0938
Email mail@mo50.com.au
45 Ingham Road West End Townsville Qld 4810

Money Over 50 Financial Advisers Pty Ltd ABN 26 146 225 505, 45 Ingham Road, West End Queensland 4810 is the holder of an ASIC Australian Financial Services Licence (AFSL) #471826.

Website by Grey and Grey
  • Home
  • What We Do
  • Who We Are
  • Podcast
  • Blog
  • FAQ
  • Contact Us