Meet The Elephants
The six emotions that most often sabotage our financial decisions
A false sense of security can come from bad assumptions or a reliance of outdated messages we may have inherited from our families, or even from a belief that investments that were less risky in the past will be so forever. Some of us are confident that our investments or businesses are safe when, if we looked at them objectively, we’d see that they are incapable of keeping up with inflation or fulfilling our long-term needs.
This feeling is a typical reaction to concluding that since we can do nothing about external situations there is nothing we can do about anything. We conclude that we have no control over money, despite everything around us telling us that we can and must. When we feel that we lack control, our response can be paralysis.