West Loop Financial LLCRiding The Elephant: Mastering Decision-Making In Money And Life – West Loop Financial LLC https://www.westloopfinancial.com Evolutionize Site Wed, 19 Aug 2020 20:50:49 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.22 Riding The Elephant: Mastering Decision-Making In Money And Life https://www.westloopfinancial.com/2015/08/10/riding-the-elephant-mastering-decision-making-in-money-and-life/ https://www.westloopfinancial.com/2015/08/10/riding-the-elephant-mastering-decision-making-in-money-and-life/#respond Mon, 10 Aug 2015 09:00:42 +0000 http://evolvemypractice.com/?p=2129 The most compelling findings regarding financial decision-making are found not in spreadsheets, but in science. A blend of psychology, biology and economics, much of the research on this topic has been around for years. Its application in mainstream personal finance, however, is barely evident. Perhaps a simple analogy will help you begin employing this wisdom...

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]]> The most compelling findings regarding financial decision-making are found not in spreadsheets, but in science. A blend of psychology, biology and economics, much of the research on this topic has been around for years. Its application in mainstream personal finance, however, is barely evident. Perhaps a simple analogy will help you begin employing this wisdom in money and life: The Rider and the Elephant.

First, a little background.

Systems 1 and 2

Read the rest of the article on Forbes.

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