Fear, Greed And The Financial Hazards
Of Emotional Investing
He was a successful dentist who managed his own money his entire life and prided himself on his financial acumen.
When he retired, he saw no reason to change. Instead of kicking back and enjoying a well-earned life of leisure, he became not only financially invested in the markets, but emotionally invested as well, much to the detriment of his personal life – and his money.
“He would wake up early and seclude himself downstairs with three screens,” says Brian Decker, a financial planner and founder of Decker Retirement Planning Inc. (www.Deckerretirementplanning.com).
“He would look at research before the market opened. He would be grouchy when the market closed if he hadn’t done well that day. Even if he went on vacation, he was tethered to Wall Street.”
That’s no way to invest – and it’s certainly no way to retire, Decker says.
Yet plenty of retirees and pre-retirees let emotions – particularly fear and greed – dominate their financial decisions.
“Fear will keep you out of the market when you should be in,” Decker says. “Greed will put you in the market when you should be out. It’s hard to buy low and sell high when you’re operating strictly on instinct with no strategy.”
Emotional investing is especially problematic in retirement.
“Market crashes aren’t such a big deal when you’re younger and working because you have time to ride the wave,” Decker says. “In retirement, time is not on your side. You need that money to live on now.”
Instead of letting emotion rule, retirees and those approaching retirement need to rely on math and logic, Decker says. As a fiduciary – a financial professional required to put a client’s best interests first – Decker has seen a number of cases where investors come to him and they don’t really understand what they are invested in, what their actual returns are or what kind of fees they are paying.
“The blame for that often rests on the shoulders of the financial professional who was giving them advice,” Decker says. “They need to be more thorough in explaining investment products and be more forthcoming about how they work. But investors also need to make sure they understand the investments before they jump in and get excited by hype.
“If you’re invested emotionally, it’s more difficult to see things objectively. It’s easier for you to justify staying with an investment because you feel it’s a great product. You become certain that there’s no way you’re going to lose long-term. That there’s no way it’s a bad investment decision for you.”
It was that kind of emotional-investing situation that Decker faced with the dentist who resisted the idea of turning his finances over to someone else to manage. But in discussions with Decker he began to realize that he couldn’t keep doing what he was doing. His constant monitoring of market ups and downs, his non-stop worries about his finances were bad for him both personally and financially.
“We said to him, you can keep managing your own money, but you aren’t going to know how to protect yourself from the market’s downside,” Decker says.
It took a year of working with Decker’s firm for this particular client to let go completely of his fixation on the markets and allow someone else to help with those decisions. In that moment, his grateful wife teared up.
“Now I have my husband back,” she said.
About Brian Decker
Brian Decker, a financial planner and founder of Decker Retirement Planning Inc. (www.Deckerretirementplanning.com), has more than 30 years of experience in asset management and has worked for several brokerage firms. He became a fiduciary in 1995 and since then has created several investment models and honed his risk-management skills with a focus on investment models designed to make money in up or down markets. He has a degree in finance and marketing from the University of Washington.
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FOR IMMEDIATE RELEASE
Contact: 202-646-5188
June 19, 2018
Judicial Watch Sues DOJ for Mueller Deputy Andrew Weissmann Text Messages Regarding Trump, Clinton
(Washington, DC) — Judicial Watch announced today that it filed a Freedom of Information Act (FOIA) lawsuit asking the court to compel the Department of Justice produce “all text messages to or from DOJ official Andrew Weissmann” regarding President Donald Trump and Hillary Clinton. (Judicial Watch v. U.S. Department of Justice (No. 1:18-cv-01356)). Weissmann is a senior deputy for Special Counsel Robert Mueller and a former chief of the Justice Department criminal fraud division.
Judicial Watch filed suit after the DOJ failed to respond to a December 15, 2017, FOIA request for:
Weissmann’s objectivity in Mueller’s investigation was called into question in December 2017 when a Judicial Watch FOIA lawsuit uncovered an email Weissmann wrote praising former acting Attorney General Sally Yates for defying Trump on enforcement of the president’s so-called travel ban.
Weissmann wrote to Obama appointee Yates in the email: “I am so proud. And in awe. Thank you so much. All my deepest respects.” President Trump fired Yates over her refusal to defend the policy. Yates was appointed by President Obama and was serving in an acting capacity as Attorney General for President Trump.
Also in December 2017, the Wall Street Journal reported that Weissmann had been in attendance at Hillary Clinton’s 2016 election night party. According to the Washington Post, Weissman contributed more than $4000 to the Obama Victory Fund in 2008 and $2300 to the Clinton campaign in 2007.
Weissmann, described by The New York Times as Mueller’s “pit bull,” is the lead prosecutor in the Mueller team’s case against former Trump campaign manager Paul Manafort.
“Andrew Weissmann is demonstrably an anti-Trump/pro-Clinton activist,” said Judicial Watch President Tom Fitton. “And it is suspicious the Justice Department refuses to turn over any Weissmann text messages, especially given the anti-Trump bias documented in the FBI”s Strzok-Page texts.”
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“I am looking forward to representing Grand County and Utah on the Governor’s Rural Partnership Board and the National Association of Counties Western Interstate Region Board. The opportunity to have representation from Grand County has not happened in decades and I am proud and grateful to have been chosen to represent our community.
We are at a pivotal time as our state continues to grow and transition. With our current trajectories, there has never been a more important time to ensure equitable representation for Utah and our rural communities.
I will use my experience as a County Councilman, business owner, and active community member to bring a fresh perspective to these board seats. It is critical that we have representation that is reflective of our values and Utah spirit.”
Councilman Curtis Wells
Find information regarding this board position by visiting
http://www.naco.org/advocacy/western-interstate-region
Quote from Utah Association of Counties
"The Utah Association of Counties has appointed Grand County Councilman Curtis Wells to the Western Interstate Region Board of Directors. This board is a critical position for the National Association of Counties and for the Utah Association of Counties.
Curtis provides a unique perspective on public lands, infrastructure needs, economic development, and poverty initiatives. He has been a statewide leader and collaborator. Curtis works hard to understand the issues and is a principled leader.
Curtis will be an exceptional representative for our State and Grand County. His fresh approach and collaborative style makes him a perfect match to build relationships across the country and push Utah priorities."
Cindy Bulloch
Utah Association of Counties President
Find information regarding this board position by visiting
https://le.utah.gov/xcode/Title63C/Chapter10/C63C-10-P1_1800010118000101.pdf
Quote from Governor’s Office of Economic Development
"Curtis Wells is an excellent example of millennial leadership In rural Utah. His knowledge and perspective will be a great addition to the Governor's Rural Partnership Board."
Linda Gilmore
Director, Office of Rural Development
Associate Managing Director, Urban & Rural Business Services
Governor’s Office of Economic Development
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Ogden, Utah – June 18, 2018 – During the 2018 General Session the Utah State Legislature provided an appropriation to Composites and Aerospace of Northern Utah (CANU), which will allow them to host and implement an inbound trade mission from the United Kingdom and an aerospace business to business matchmaking event to be held from June 20th to the 23nd.
The Inbound Trade Mission from the United Kingdom is an amazing opportunity to elevate the visibility of the Northern Utah aerospace cluster internationally, and to showcase the talent and opportunity that exist in Northern Utah. During the 3-day trade mission, CANU, in partnership with the UK’s Department for International Trade (DIT), will host a Business to Business (B2B) Matchmaking session, bespoke meetings between the UK delegation and the region’s most influential Primes and OEMs, as well as a VIP Social & Dinner drawing together the region’s industry and policy leaders. Between 70 to 100 area aerospace and advanced material and manufacturing businesses will attend the business to business matchmaking event. Each of these events are designed not only to connect area businesses with international companies, but to foster partnerships across industry and government at the regional level.
“DIT are excited for this opportunity to showcase three exemplary UK advanced manufacturing companies to Northern Utah’s robust advanced materials and manufacturing supply chain: AT Engine Controls Ltd, Bindatex Advanced Materials Cutting, and Heraeus Noblelight Ltd,” says Pauline Wood, Vice Consul for Advanced Engineering and Manufacturing, DIT. “The UK has consistently ranked as one of Utah’s largest export markets, with aerospace exports ranked top 5. Now we have a unique opportunity to introduce UK innovation into Utah and to continue to foster this strong trading relationship.” About Composites & Aerospace of Northern Utah (CANU) CANU is an organization of 9 cities and counties in Northern Utah (including Ogden, Layton, Clearfield, Brigham City, Morgan County, Weber County, Box Elder County, Cache County and Davis County). Their goal is to help foster growth in the composites and aerospace industries in Northern Utah through marketing efforts and their network of partners, including the Governor’s Office of Economic Development (GOED), The Utah WTC, Economic Development Community Utah (EDCUTAH), and Utah Advanced Materials and Manufacturing Initiative (UAMMI).
About the Department for International Trade (DIT) The Department for International Trade has overall responsibility for promoting UK trade across the world and attracting foreign investment to our shores. DIT works to promote UK exports of goods and services; deliver the best international trading framework for the UK outside the EU; and maximize opportunities for wealth creation through supporting Foreign Direct Investment, with a renewed focus on overseas direct investment.
