Episode 9 - The Bottom Line of Behavioral Economics

November 5, 2018

Behavioral economics is all about determining the psychological, emotional, cognitive, and social factors that influence our economic decisions.

How do these factors influence how much money you’ll save every month or the likelihood that you’ll enroll in a 401(k)? By understanding behavioral economics, we can become more conscientious of why we make the decisions we do. Only then can we consider changing our behaviors.

Listen in as Joe Biondolillo discusses how we can use our knowledge of behavioral economics to make better financial decisions.

 

References:

BiondFinancial |Improving decisions about wealth, health and happinessRichard Thaler Nudge  | Unshakeable: Your Financial Freedom Playbook  by Tony Robbins | The Millionaire Next Door: The Surprising Secrets of America's Wealthy Paperback by Thomas J. Stanley Ph.D.

 

Disclosure:

Joe Biondolillo is a Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. Biond Financial is not an affiliate or subsidiary of Guardian. The books mentioned have not been endorsed by Guardian, its subsidiaries, agents, or employees. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness, or reliability of the information contained herein. In addition, the content does not necessarily represent the opinions of Guardian, its subsidiaries, agents, or employees.

2018-68478 Exp. 10/20

00:0000:00

Episode 8 - Myth 6 - You Don’t Need Life Insurance

November 20, 2017

Many financial services professionals today believe their clients do not need insurance because they are self-insured. However, once clients truly understand what insurance can do for them, they see the power of life insurance when it is a part of an overall financial plan. Insurance is a way to transfer risk and by taking away that risk, you no longer need to worry about absorbing that risk.

Learn more about the myth of life insurance in this podcast:

00:0000:00

Episode 7 - Myth 5 - The Miracle of Compounding Interest

November 10, 2017

Compound interest is something that has really become a topic at the forefront of financial planning. You get a lot of money over a long period of time since it compounds in an exponential manner. It’s often depicted as an exponential curve which really gets you value after a long time. However, you have to realize that compound interest computations take into account a lot of hypothetical scenarios.

Learn more about compound interest in this podcast:

00:0000:00

Episode 6 - Myth 4 - More Protection Means Less Cash Flow

November 1, 2017

In today’s society we are constantly faced with the possibility of life throwing us a curveball.  This is why implementing a protection plan is very important when it comes to finances. However, there is a popular myth going around where having more protection equals less cash flow. In this podcast Joe shares how protecting yourself properly does not necessarily mean less cash flow.

00:0000:00

Episode 5 - Myth 3 - A 15 Year Mortgage Costs Less Than a 30 Year Mortgage

November 1, 2017

Joe Biondolillo shares when it comes to mortgages, most people make financial decisions that are ultimately based on what they’ve heard. A lot of people approach mortgages with the sales hype and the psychological perspective of paying for your home over a long period of time. Oftentimes, people make a decision on mortgages based on their emotion.

Learn more about myth number 3 A 15 Year Mortgage Costs Less Than a 30 Year Mortgage in this podcast:

00:0000:00

Episode 4 - Myth 2 - I Love My 401k and You Should Too

November 1, 2017

Most of us have heard of the benefits of a 401k. It’s great from a tax perspective, it’s what successful people do, so we are often recommended to max out our 401k. However, before we dive into the 401k discussion deeper we have to establish a couple of things. We often hear of 401k as part of an investment strategy but we have to realize that for every financial decision we make, it has to fit in with the big picture of what we’re trying to accomplish. It’s not that 401k is good or bad, but it is situational. We have to understand both the advantages and the disadvantages to avoid any misunderstanding.

Learn more about the advantages and disadvantages of the 401k in this podcast:

00:0000:00

Episode 3 - Myth 1 - You Will Be In a Lower Tax Bracket In Retirement

August 31, 2017

Joe Biondolillo shares how many people in retirement feel they will be paying less money from a tax perspective. In fact, some actually pay higher taxes and while we can’t do anything about high taxes, we can plan for it. Learn more about how to plan for retirement and retirement preparing in this podcast:

00:0000:00

Episode 2 - 6 Universally Accepted Financial Myths

August 9, 2017

There’s a lot of financial media going around producing a lot of misinformation. Even podcasts, blogs, and marketing promoting certain financial strategies are now automatically taken as factual. Just because we see it on Google, doesn’t mean it’s true. A lot of people have been misguided especially since they’ve created preconceived notions on how financial planning works.  Learn more about these financial myths in this podcast:

00:0000:00

Episode 1 - Introduction to Joe Biondilillo of Biond Financial

July 28, 2017

Joe started a career in financial services in 1998 when he was 18 years old. During that time, he was very
interested in the dynamic and energy of Wall Street. He spent 15 years going in that direction, and
would then do a total 180. He changed his career from a Wall Street based practice to a Planning and
Protection based practice.  Learn more about Joe and Biond Financial in this podcast:

00:0000:00