People are prone to cognitive bias where they overestimate the probability of events that are easy to recall or have recently occurred, causing them to fail to consider unlikely outcomes when evaluating financial decisions.

Authors

• Person: Not available Organization: NextGen Financial Planning
  The Psychology of Personal Finance - Next Gen Financial Planning

Sources

• The Psychology of Personal Finance - Next Gen Financial Planning www.nextgenfinancialplanning.com NextGen Financial Planning via serper

Referenced by nodes (2)

• cognitive bias concept
• financial decision making concept