5 strategies for making better decisions

The shortcomings in human decision-making abilities are well-documented, notes New York magazine. We’re often biased, over-confident and easily manipulated by our own state of being.

But there are ways of getting around our own fallibility when it’s time to make an important choice.

Read: A short-term approach to long-term returns

To start, don’t make a key decision when you’re hungry, sleepy or angry. Being highly emotional, or physically or emotionally stressed, affects decisions, says the magazine.

And whenever you can, make decisions ahead of time. For instance, those who are trying to stick to a diet or quit smoking are less likely to make healthy choices when confronted with an immediate decision. Research shows that if they decide to abstain from food or cigarettes before facing those items, they’re more likely to stick to their plans.

For the other three tips, read more here.

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How to deal with client complaints

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.