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    How to Use Psychology to Achieve Your Financial Goals
    How to Use Psychology to Achieve Your Financial Goals
    How to Use Psychology to Achieve Your Financial Goals
    Ebook31 pages21 minutes

    How to Use Psychology to Achieve Your Financial Goals

    By Dale Maley

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    About this ebook

    Up until about 30 years ago, economists assumed that humans were perfectly rational in their decision making. Subsequent research has proven that we are anything but rational with respect to financial decisions. This short story explains how you can use psychology to help achieve your personal financial goals.

    LanguageEnglish
    PublisherDale Maley
    Release dateJul 11, 2010
    ISBN9781452314822
    How to Use Psychology to Achieve Your Financial Goals
    Author

    Dale Maley

    Dale C. Maley is the author of the 19999 book Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pros.He is also a contributing author to Chapter 18 Seeking Help from Professionals in the 2009 book The Bogleheads Guide to Retirement Planning.He is a very successful private investor who has been a student of Financial Planning and Investing for over 30 years. He was trained as an engineer at the University of Illinois and has been a practicing engineer for 32 years. His accomplishments as an engineer include the granting of 16 U.S. Patents and authorship of over 500 professional technical papers. He is also a member of the International Society of Automotive Engineers and the Society of Manufacturing Engineers.He also has earned an MBA (Masters Degree in Business Administration) degree from Illinois State University. His background in mathematics, engineering, and business provides him with the excellent basis for understanding and teaching investments and financial planning.He is also a very successful investor who has been investing in common stocks and mutual funds since 1980. He has also personally invested in both 401(K) and IRA plans, so he is familiar with participation and management of these types of investments. He has been investing in indexed common stock mutual funds since 1990.Dale became a Registered Financial Advisor in the State of Illinois in 2006 and is currently launching his business as a fee-only financial planner. He is President of Maley Financial Planning LLC.

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      Book preview

      How to Use Psychology to Achieve Your Financial Goals - Dale Maley

      How to Use Psychology to Achieve Your Financial Goals

      by

      Dale C. Maley

      SMASHWORDS EDITION

      * * * * *

      PUBLISHED BY:

      Artephius Publishing on Smashwords

      How to Use Psychology to Achieve Your Financial Goals

      Copyright © 2008 by Dale C. Maley

      All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form, or by any means (electronic, mechanical, photocopying, recording, or otherwise) without the prior written permission of both the copyright owner and the above publisher of this book.

      Q: What areas of investing have you been exploring since the publication of your book Index Mutual Funds: How to Simplify Your Financial Life and Beat the Pros?

      A: The last couple of years I have been exploring the exciting field of Behavioral Finance. Classical economic theory assumed that people always behaved in a perfectly rational fashion. We have all seen occasions where people don’t always act in a rational fashion. The Tech Stock Boom and Crash of 2000 is just one example of non-rational behavior. The awarding of the Nobel Prize in 2002 to Daniel Kahneman for his research in behavioral economics popularized the field of Behavioral Finance. I have found this area of personal finance to have many fascinating theories why people don’t always act in a rational fashion. Unfortunately, much of the research in Behavioral Finance is very tough to read, hard to comprehend, and difficult to derive practical applications for ordinary investors. My goal has been to apply the findings of Behavioral Finance to help ordinary investors achieve their financial goals.  

      Q: How

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