Anchoring to an Arbitrary Dollar Amount

The behavioral and emotional side of financial planning takes precedence when planning for our future. I see this play out frequently in the form of anchoring to a perceived value we've grown accustomed to, based on prior experience. This "value"; however, can unfortunately lead to decisions that damage the success of our financial plan. Outline of This Episode [1:40] Anchoring to a dollar amount is what we're used to [5:56] Are you stuck on your stock prices? [10:25] Your retirement number needs to have a basis [15:20] What are you sacrificing to reach your number? [16:13] Don't limit your tax thinking [20:25] Gain confidence with a financial plan Resources & People Mentioned BOOK - Wild Problems by Russ Roberts Connect with Chad and Cameron https://www.financialsymmetry.com/podcast-archive/  Connect on Twitter @csmithraleigh @TeamFSINC Follow Financial Symmetry on Facebook Subscribe To This Podcast Apple Podcasts  Stitcher  Google Play