Today, I sit down with John De Goey, portfolio manager, author, and podcast host of Make Better Wealth Decisions, to discuss how psychology influences our financial choices. With over three decades of experience, Mr. De Goey has dedicated his career to helping people avoid common traps and make smarter decisions about money.
In this episode, we break down five key psychological biases that often lead to poor financial outcomes: time neglect, recency bias, herding, optimism bias, and risk-seeking behavior. Mr. De Goey explains how these biases shape our saving, investing, and spending habits, and why being aware of them is the first step toward building long-term wealth. From the tendency to delay retirement savings to the dangers of following the crowd, his insights highlight how our mindset can be just as important as our income.
We also talk about the role of misinformation, financial influencers, and consumer culture in pushing people toward bad decisions. Mr. De Goey emphasizes that while optimism and risk-taking can drive progress, unchecked confidence often blinds us to reality. He shares practical tools for managing biases, setting realistic expectations, and focusing on purpose-driven financial planning.
https://www.johndegoey.ca/
https://open.spotify.com/show/164ZrmvuxArL6kGYLCRPV3
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*Couple O' Nukes LLC and Mr. Whiskey are not licensed medical entities, nor do they take responsibility for any advice or information put forth by guests. Take all advice at your own risk.
