Four reasons to look at financial choices and websites to help you do that

Can you trust conventional wisdom, or your gut, in financial matters? Not always. And in some cases, perhaps never, according to the economists and other experts at these sites on money.

Brain power: Harvard economics professor David Laibson has used brain scans to explore how people’s emotions affect their decision-making.

One thing he has found is that financial miscues based on convention and emotion lead to widespread problems and cost money.

He notes on that many people make financial decisions, such as selling off stocks or buying gold, based on a recent trend that is unlikely to hold up over time;

Update your ideas: Do you change your oil every 3,000 miles, drink bottled water for your health, and think ceiling fans keep a room cool? You’re a sucker squandering cash, suggests this post at, which lists “Six ways conventional wisdom wastes money”;

Buy and hold? Finance journalist Alison Griffiths writes about “misleading financial rules of thumb.” For her, problems include an overreliance on “buy and hold” strategies for investing and faith in the adage that “if you’re young, you can afford to take risks.”

These might be true for some people, but, says Griffiths, “take into account the realities of your own situation”’

Don’t sit tight: In this video, Boston University professor Zvi Bodie says conventional wisdom is wrong in investing. “Stocks are just as risky in the long run as they are in the short run,” he says.

Bodie’s video series on personal finance continues with his take on pension plans, safest investments and the danger of “sitting tight” when things are going wrong.

He is big on staying in the labor force as long as possible to delay, and increase, Social Security benefits;

More in Herald Business Journal

Happy accident leads Edmonds couple to make Hunniwater drink

The latest line of energy drinks by Karin and Eric… Continue reading

Single payer is no panacea for our costly health care system

We must address the cost of health care before designing an insurance system.

Voters are on the sidelines as the port fills a vacant seat

Troy McClelland resigned from the Port of Everett commission too late for an election before 2019.

Career Fair planned next week at Tulalip Resort Casino

The Snohomish County Career Fair is planned from 10 a.m. to 2… Continue reading

American Farmland Trust president to speak in Mount Vernon

American Farmland Trust President John Piotti plans to give a talk about… Continue reading

In new setback, Uber to lose license to work in London

The company, beset by litany of scandals, was told it was not “fit and proper” to keep operating there.

Not home? Walmart wants to walk in and stock your fridge

The retailer is trying out the service with tech-savvy shoppers who have internet-connected locks.

Trade panel: Cheap imports hurt US solar industry

The ruling raises the possibility of tariffs that could double the price of solar panels.

Agent joins Re/Max in Smokey Point

Dennis Roland joined the Re/Max Elite Smokey Point office. The Navy veteran… Continue reading

Most Read