{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"120: Women, Retirement, and the Lessons of Behavioral Finance (rerun)","description":"\u201cThe human brain is actually wired to trip us up, to shoot ourselves in the foot when it comes to money and investing. A little bit of self-examination can help pull us out of these knee-jerk reactions.\u201d &amp;nbsp; Prepare for a knowledge voyage as our hosts Stephanie McCullough and Kevin Gaines redefine retirement for women, bringing insights from behavioral finance, a fascinating field that explores how we make decisions around money. By the end of this episode, you'll have a deeper understanding of financial behaviors and how to make smarter choices. &amp;nbsp; Our hosts dissect the concept of the gambler's fallacy to shed light on their own decision-making patterns, with Kevin sharing a personal anecdote to highlight its real-life impact. Following that, prepare for a compelling discussion on mental accounting, a concept that will change how you view your money's value depending on its source. Our hosts explore a study that reveals intriguing patterns in spending &quot;found money&quot; versus hard-earned cash. To wrap up, they look at practical ways to leverage mental accounting in creating a budget and improving your chances of financial success. This episode is a journey toward financial empowerment. &amp;nbsp; Key Topics:  Intro to Behavioral Finance (03:10) Biases (07:33) Recency Bias (AKA Availability Bias) (15:44) Mental Accounting (18:42) Flipping These Findings to Our Advantage (Action Steps) (25:55)  &amp;nbsp; &amp;nbsp; Resources:   Predictably Irrational (book) Seinfeld Skit: Even Steven  &amp;nbsp; &amp;nbsp; If you like what you\u2019ve been hearing, we invite you to subscribe on your favorite platform and leave us a review. Tell us what you love about this episode! Or better yet, tell us what you want to hear more of in the future. stephanie@sofiafinancial.com &amp;nbsp; You can find the transcript and more information about this episode at&amp;nbsp;www.takebackretirement.com. &amp;nbsp; Follow Stephanie on&amp;nbsp;Twitter,&amp;nbsp;Facebook,&amp;nbsp;YouTube&amp;nbsp;and&amp;nbsp;LinkedIn.&amp;nbsp; Follow Kevin on&amp;nbsp;Twitter,&amp;nbsp;Facebook,&amp;nbsp;YouTube&amp;nbsp;and&amp;nbsp;LinkedIn. ","author_name":"Take Back Retirement","author_url":"http:\/\/takebackretirement.com\/","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/38219240\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/3c1456\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/item\/38219240"}