Episode 81: The Roman Empire of Financial Planning

Welcome back for another great episode of the Our 2 Cents podcast!We're covering a really interesting main topic this week that takes us into the psyche of investors. We also have a listener question that was sent in to us and we wrap up by learning a bit more about Steve and Gabriel!The Danger of Overconfidence:What does the Roman Empire have in common with your financial plan?Overconfidence is an interesting psychological phenomenon, which can be particularly dangerous when it comes to investing and personal finance.Find out how overconfidence in three key planning areas can undermine your investing performance and retirement goals.We also take a look at how confirmation bias can sneak in and compound the negative effects of overconfidence.Listener Question:"My Long-Term Care premium is going up this year based on a notice I received, and it is significant. Should I pay the extra premium cost, or should I just cancel it before it goes up again?" - HannahGetting to Know Steve and Gabriel:What is something that you've done that you think everyone should do at least once in their lifetime?Who was your favorite teacher growing up, and why?