Our emotions are powerful and often influence the decisions we make in life, sometimes without us even realizing it. This is especially true in the realm of financial decision-making. At Sherman Wealth, we frequently discuss behavioral finance with our clients, emphasizing how our behaviors can oftentimes significantly impact the financial choices we make. As you…
This article was originally published on investopedia.com One of the biggest challenges to our own success can be our own instinctive behavioral biases. In previously discussing behavioral finance, we focused on four common personality types of investors. Now let’s focus on the common behavioral biases that affect our investment decisions. The concept of behavioral finance…
When it comes to gifting and giving money, especially to family members, people are oftentimes confused on when is the right time to pass over their inheritance. Should an inheritance be strictly given after one’s death? Should it be used while one is still alive? Let’s take a look at some of these questions. Of…
We know that it can be difficult or overwhelming to stay on top of your finances. At Sherman Wealth, we focus on helping young professionals and families get their finances on the right track, and curate strategies to help simplify their life as it becomes more complicated. So whether you are working with a financial…
Investors often think they are doing better than they actually are. But the reality is that most investors are actually underperforming their benchmark. Two recent articles regarding behavioral finance — Which Investor Personality Best Describes You? and 8 Common Investor Biases That Impact Investment Decisions — detail a concept which is the thought that our…
On Thursday, March 24th, Brad Sherman was asked to judge the MCPS Business Pitch Challenge, which is an annual local challenge inspired by the show “Shark Tank”. Students from seven high schools participated in this year’s event, including Blake, Churchill, Gaithersburg, Northwest, Kennedy, Northwood, and Paint Branch. Students pitched their business ideas for a solution…
We know many of you have been anticipating the Fed Meeting that occurred earlier this week. What you may be wondering now is how the hike in interest rates will affect your wallet and your future financial situation. Check out the transcription from our Fed Meeting episode of Launch Financial below or listen here! Brad:…
In the times of the coronavirus pandemic and with working-from-home becoming our new norm, we are all learning how to conduct our daily lives from the confines of our laptops and smartphones. Furthermore, while adjusting to this new way of life, it is crucial that the platforms and technology we use to connect with other…
Over the last few months, we’ve faced a great deal of economic turmoil and uncertainty, which has a great impact on the finances and mindsets of many all across the world. Through these hardships, we’ve seen individuals face and struggle with a great deal of biases in respect to their portfolios and investments. We want…
When you sign up for a credit card, you are often assigned a credit limit when that account is opened. These limits typically start at $200 and go up to tens of thousands of dollars. With so many people out of jobs and finding it hard to make ends meet these days, credit cards have…