The Importance of Keeping Investing Stupid Simple (KISS)
Money Meets Medicine
English - August 02, 2023 05:00 - 37 minutes - 28.2 MB - ★★★★★ - 197 ratingsInvesting Business Education doctor finance attending budget doctormoney feeonlyfinancialplanner financialplanning income investing medicalschool Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Did you know that when it comes to investing, keeping it simple often leads to better returns?
Keeping it simple is not just my or Lisha’s opinion - studies show that this is a more effective, sustainable way to go about investing.
Why? Because it turns out that as humans, we don't like as many choices as we think we do. We take action less often when we feel overwhelmed with choices. Just think of the last time you asked your partner where they wanted to go for dinner…
In fact, in a jam (yes, jam) display study on consumer habits, a display case with 24 varieties of jam received more customer traffic but ten times fewer sales than a display case featuring only 6 jams. When we have too many choices, we often don’t choose at all. Also known as: analysis paralysis.
We love talking about the psychology of investing, so let’s dive into some of those principles and how simplicity can help you when it comes to real-life application.
In this episode, we discuss:Examples of analysis paralysis (7:25)How Lisha operates psychologically when it comes to investing (10:06)
A great way to start when you’re new to investing (15:49)
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