There’s never a dull moment in the world of finance!
In just the past six months or so the markets have passed some amazing historical milestones. We’ve reflected on one of the true revolutions in financial services, had a couple complicated runs of volatility, and the country made it through the contentious midterm elections that were fought against the background of some major economic challenges at home and abroad.
With so many big picture topics to discuss, it’s been a while since we opened up our mailbag. So, on today’s show, we answer questions submitted by listeners that touch upon issues that many folks will have to deal with at some point during their retirement.
When Dr. Daniel Crosby was in his 20s, he had a fateful conversation with his father about what he should do for a living. Dr. Crosby’s father was a financial advisor, but young Daniel didn’t think finance was a good fit for his interests and skill set.
“I remember saying to him, ‘Dad, but I'm a people person. I like to study human behavior and you just think about math,’ Dr. Crosby says. “He laughed and said, ‘Read these books and tell me if you don't think that emotion and human behavior plays into finance.’ And there was no turning back after that.”
Today, Dr. Crosby is the chief behavioral officer at Brinker Capital. He's also a psychologist, a New York Times bestselling author, and a behavioral finance expert who really understands what's happening at the intersection of our minds and the financial markets.
On today’s show, we talked to Dr. Crosby about his latest book, “The Behavioral Investor,” and the four psychological tendencies that he has seen prevent folks from building a bigger and better nest egg.