How to Decide…How to Help People Decide

Think back to the last time you had to make a hard, important decision. Were you picking an asset allocation for your 401k, selecting a health insurance plan or deciding whether it was time to refinance your mortgage? What kind of help did you seek and what kind of help was available? Were you confident … Continue reading How to Decide…How to Help People Decide

Health Insurance Enrollment: A Superhuman Decision

Open enrollment for health insurance began November 16 and the decision isn’t any easier than last year. On the contrary, not only are premiums higher and benefits lower, there’s greater uncertainty about the future of the Obama health care act. On a cold, cloudy Sunday afternoon, I analyzed my health insurance choices.  Our choices and … Continue reading Health Insurance Enrollment: A Superhuman Decision

Good Behavior? What I Learned at the Behavioral Summit (and How it Freaked Me Out a Little)

I just attended the best conference ever. And I’ve been to a lot of them. The ideas42 Behavioral Summit 2016 was billed as offering “…an inside look at the latest developments from the field of behavioral science and how these insights drive innovation in the private sector.” Indeed it went beyond that, touching on politics, … Continue reading Good Behavior? What I Learned at the Behavioral Summit (and How it Freaked Me Out a Little)

My Most Embarrassing Financial Failures

So this is embarrassing: I’ve been advising institutions and individuals about financial decisions for nearly three decades and yet I’ve failed many times to make good choices myself. I want to share a list of my failures with you both so you can avoid them and as a commitment device, so I don’t keep failing … Continue reading My Most Embarrassing Financial Failures

Decisions into Old Age: The Forecast is Partly Cloudy

Here’s a question that just about everyone approaching (and passing) middle age will feel ambivalent about: how does getting older affect our ability to make rational decisions? On the one hand, it’s common knowledge that our cognitive abilities begin to decline in our fifties. On the other, as I’ve written before, the accumulation of experience … Continue reading Decisions into Old Age: The Forecast is Partly Cloudy

How to ‘Architect’ Your Investment Behavior

I took my annual look at my investments this week, and boy did I get it wrong. A few years ago, I determined I should have about 70% of my investments in equities. Instead, as of yesterday, I had less than 60%.  Most of the excess was in cash, earning essentially nothing and missing out on … Continue reading How to ‘Architect’ Your Investment Behavior

Push the Limits on Rational Decision-Making

There are three things we need to make wise and rational decisions with confidence: time, information and smarts. Unfortunately, as mere humans, we know that these resources are in short supply. Indeed, the vast range of choices we have to make daily and the overwhelming influx of information and stimuli can limit or confuse all … Continue reading Push the Limits on Rational Decision-Making

Your Decision-Making Personality: Myers-Briggs & TAIS

My college-era friends enjoy reminding me of the time decades ago when I sent the waiter at a fancy restaurant away several times as I struggled to select an entrée from the menu. It was an important decision for me: the dinner out was a rare splurge to celebrate graduation with close friends who were about … Continue reading Your Decision-Making Personality: Myers-Briggs & TAIS