Chris Budd: What makes a good financial decision?

clock • 3 min read

Chris Budd looks at how advisers can help their clients to make better financial decisions…

Humans are not built for making good financial decisions. What do I mean by ‘good'? The easy answer would be to say that a good financial decision is one that helps a client achieve their objectives. Even that starting point, however, is problematical. Money objectives This is for two reasons; firstly, our objectives tend to be focused on now, not on the future. We are simply not very good at delaying gratification and find it very difficult to picture our future selves. Consequently, therefore, achieving an objective now might actually make us less happy in the future. If the o...

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