Resolutions and the Fear of Financial Loss (New Yorker)

Money128What’s the biggest threat to your New Year’s resolution? For some of us, the answer might be pure laziness — but in many cases, it’s a fear of losing money, like the expensive gym membership that you never end up using. Adam Alter of The New Yorker suggests following the lead of successful stock traders: think about your financial choices in aggregate, rather than agonizing over any individual one. “If you’re generally careful and prudent, there’s no reason to avoid occasional risky decisions if the potential benefits outweigh the risks,” Alter writes.

 

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