Why Do People Do Dumb Things? Part 2 | MHFI 156

Doug and Dusti are back for Part 2 on cognitive biases and how they shape our financial decisions.

• How a scarcity mindset can hold you back
• Desire to be like everyone else
• Decision paralysis
• Default bias
• Holding onto bad investments
• Are we more motivated when we're close to reaching a goal?

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**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**

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1500 Days, Carl's Blog about Early Retirement

Email us here: [email protected] or [email protected] 0:00 Intro 2:50 Having a scarcity mindset 8:14 The ''what the hell'' effect 13: 35 Social proof and the desire to be like other people 19:08 The cost of friction and decision paralysis 25:34 Default bias 37:20 Why we hold on to bad investments 45: 18 Getting more motivated at the finish line 55:12 Our favorite desserts