Description
If you spend any time on the internet or watching the news, you will be bombarded with doom and gloom. In this webinar, Michael Finke makes the case for optimism. In his research, Michael has found that optimism helps people to invest more in the present with expectations of payoffs in the future in the realms of health, relationships, and personal finances, setting clients up with a higher chance of a happier retirement. Additionally, optimism can help clients be resilient when faced with inevitable setbacks in life and in their investments. However, overoptimism can negatively affect financial behaviors like risk tolerance. Finke uses this research to explain how advisors can work best with optimistic clients and encourage optimism in clients that tend to have a more pessimistic outlook.
Learning Objectives
1. Discuss how life experiences can impact a client’s sense of optimism
2. Explain how optimism can impact a person’s financial behaviors
3. Describe the relationship between optimism and investing for future payoffs
4. Evaluate how optimism and overconfidence may impact a person’s risk tolerance
5. Create personalized strategies to encourage optimism in clients