Ep 29: Considering Your Emotions When Making Financial Decisions

While it may seem like your financial decisions are all about the numbers, emotions play a big part in what you do with your money! How much should you let your emotions decide and when should you turn more towards logic? We’ll discuss that on this episode.

 

Read more on this topic and get additional resources here: https://philstaxhacks.com/podcast/ep-29-considering-your-emotions-when-making-financial-decisions/ 

 

Today's show rundown: 

0:54 - Phil shares his latest big purchase.

2:58 - In the News: Wells Fargo CEO banned from banking industry.

5:48 - What emotions drive people to make financial decisions?

7:16 - What mistakes do people make with emotional decisions?

8:34 - Are there times to let your emotions factor in?

11:28 - Understanding what taxes look like long-term may mean addressing some emotional vs. logical decisions.

13:44 - Mailbag: Any problems with selling company stock in order to buy land?